It is now established that customer profitability (CP) enables us to understand high yielding customers from a pool of consumers. However, to measure customer profitability, there are several ways to quantify the same.
The relationship between a company and its customer is affected by numerous factors. Competition, industrial growth, and even company’s offerings have an impact on customers.
The rise of newer technology has made the sale of goods available across a plethora of modes. Sellers are not restricted by traditional selling platforms to make sales; online selling has grown tremendously over the last few years.
One-Class SVM is used for unsupervised outlier and novelty detection. Normal data points to build the model so the algorithm can set a correct boundary for the given samples. Nu, Gamma, and Kernel are parameters for the model these impact the result significantly.
United States 2017 Infographic
What is Brand Reputation? Brand reputation is the knowledge, or feedback others have about the brand. The brand can be both individual or company. A startup has little or no brand recognition as they are new-born without much public knowledge, while an MNC with global operations has a more prominent brand reputation.
The process of gathering and quantifying information, data collection enables researchers to acquire the relevant information from different sources to answer various questions, evaluate outcomes, or even test hypotheses.
The customer journey is a critical component of any company. It is the ultimate verdict on how well the company has been performing over the years among its customers. Customer journey could be defined as the lifetime of the customer with the brand.
In this modern days where most of the information about products and brands are readily available online, marketers find it challenging to offer a shopping experience before the digital era.
One of the most significant concerns for marketers while conducting marketing campaigns is the return on investment. Often, an explanation on what the money is spent on a specific activity is needed.
