Database Marketing
Information technologies have made the
collection and analysis of data for decision
making much easier. Database marketing,
or customer relationship management (CRM),
is a process of designing, creating, and managing customer lists. These customer lists
contain information about individuals’ characteristics and transactions with a business.
Customer lists are developed from customer
touch points such as face-to-face sales, directmail responses, telephone or e-mail purchases,
service requests, or Web site visits. Marketing
lists can also be obtained through third-party
companies that specialize in selling databases of names and addresses to specific markets.
Once a customer list is developed, it can be
used for locating, selecting, and targeting customers with special programs and services