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Data Mining and Data Fusion in Direct Marketing - Coursework Example

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The "Data Mining and Data Fusion in Direct Marketing" paper overview of direct marketing. It also includes the influence of data mining and data fusion on direct marketing. The effectiveness of data mining and data fusion in improving the process of direct marketing is also explained in this report…
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Data Mining and Data Fusion in Direct Marketing
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Download file to see previous pages Marketing is a broad concept that includes all the activities regarding the target market, segmentation, positioning, product, price, promotion, and distribution. Marketing also includes the activities of selling the final products and providing after-sales services. Today marketing is done in various forms, but conceptually there are only two different forms of marketing, one is direct marketing and another one is indirect marketing. This report is all about direct marketing which is one of the oldest concepts of marketing. Since the present age is the age of information, it is quite expected that each and everything in business would be influenced by ‘information’. Direct marketing is not an exception. It is also influenced by various information gathering and filtering processes like data mining.

The concept of direct marketing is as old as the concept of mail-order selling. In early 19th century customers of mail order servicing companies were directly contacted. In 1966 the toll-free telephone numbers arrived in the US and this made the interaction between the customer and service provider easier. Since then direct marketing is practiced heavily in various forms of business. As far as the definition is concerned different experts believe in different ways. According to Drayton Bird, direct marketing is “an advertising activity, which creates and exploits a direct relationship between you and your prospect or customer as an individual”. As per Direct Marketing Association, direct marketing is the “communications where data are used systematically to achieve quantifiable marketing objectives and where direct contact is made or invited, between a company and its customers and prospective customers”. (Mullin, 2002).

In the process of direct marketing direct interaction takes place between the marketer and the seller. As a result, it is very important for the marketer to have all the information regarding the customer before getting into the interaction process and this requires a large amount of data regarding the a customer. ...Download file to see next pagesRead More
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