Understanding Customer Needs and Online Behaviour. MARK 430 Week 2. Error in Assignment 1 instructions. Question 2c It should read Your operational margin seems a bit low . If you increase it to 60% from 50%, what impact does that have on the “Average Order Contribution” and the CLTV?.
Understanding customer needs and online behaviour (market research, data mining, web analytics)
Formulate a strategy to fill needs
Implement effectively and efficiently (web usability, stickiness, advertising, search engine optimization, email marketing, pricing, distribution, product development)
Build trusting relationships with customers
Focus for this week
Sales Force Management
and Customer Experience
Quickly gain crucial market intelligence
Act upon first-mover advantages
Stay afloat in a fast-paced environment
Reduce market research costs
Awareness / learning
How to segment the market?
Who are mycustomers?
Discrete Choice Modeling
What are the growth trends?
Who are my competitors?
= No ability to draw a random sample
= Researchers cannot generalize results to the entire population being studied.