Explain why data mining is an important activity for ...

[Diane]

Explain why data mining is an important activity for marketers.

Question 2

The major green communications efforts include all of the following EXCEPT ____.
 a. packaging
  b. sales promotion
  c. seal-of-approval programs
  d. cause-oriented communication efforts
  e. point-of-purchase displays

[kusterl]

Answer to Question 1

The goal of data mining is to discover hidden facts contained in databases. Sophisticated data miners look for revealing relations among the variables contained in a database for purposes of using these relationships to better target prospective customers, develop cooperative marketing relations with other companies, and otherwise better understand who buys what, when, how often, and along with what other products and brands. Another use of databases is to segregate a company's customer list by the recency (R) of a customer's purchases, the frequency (F) of purchases, and the monetary value (M) of each purchase. The R-F-M system offers tremendous opportunities for database manipulation and mail targeting.

Answer to Question 2

b