Response Management

Response data includes:-

The information given by the customers during their response which are the simple facts about where they live and who they are.

The fact, which they have given a particular response to the particular approach.

What does this data tell?

What products do your customer buy, when they buy, and what they have not bought, what they will buy in future and when they will buy it?

What types of promotions they responded and what promotions they would respond to in future?

Market Segmentation:

Market segmentation is done on four bases:

Demographic
This includes Age, Occupation, Marital Status, Income, etc.

Life stage
This includes Young + No kids, with kids (by age), Old + No Kids, etc.

Behavioral
This includes survey vs. observation purchase response etc.

Lifestyle
This includes interests, attitudes, psychographics etc.