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Description
If you don't understand the details about customer segmentation, you're most likely letting customers--and sales--slip through your fingers, says a marketing expert.
Neil Portnoy, vice president, Consumer Durables, for Claritas Inc., San Diego, Calif., says concentrated customer focus will define retailing in the future. Retailers who reinvent their businesses around the customer will see sales and margins soar. Those who don't won't survive, he says.
"Retailers need to understand the composition of households surrounding their trade area to understand the market potential of consumers to purchase digital cameras, camcorders, and more," says Portnoy. "Once they understand the demand, we can help them reach those customers efficiently."
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Customers have more choices today than ever--and more ways of exercising that choice. Retailers must do all the "right" things, says Portnoy, to connect with customers.
That means targeting the:
* Right people with the
* Right message in the
* Right place at the
* Right time and then evaluating success with... |
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