Hands-On Data Science for Marketing

Customer segmentation

Given today's competition within the market, it is critical to understand the different behaviors, types, and interests of customers. Especially in targeted marketing, understanding and categorizing customers is an essential step in forming effective marketing strategies. By segmenting the customer base, marketers can focus on one segment of customers at a time. It also helps marketers to tailor their marketing messages to one specific audience at a time. Customer segmentation is the backbone of successful targeted marketing, with which you can target specific groups of customers with different pricing options, promotions, and product placements that capture the interests of the target audience in the most cost-effective ...