Customer data platform A customer data platform (CDP) is a computer system used by marketing departments that assembles data about individual people from various sources into one database, with which other software systems can interact.As of February 2017 there were about twenty companies selling such systems and revenue for them was around US$300 million.
9. Key Psychological Processes – Clarify Marketing Stimuli and effects.
Stimuli (stimulus in the singular) are any materials or items used to prompt respondents in a market research setting. Stimuli may be physical (such as a product) or audio / visual, such as a film or website. Stimuli are generally visual, auditory, written or tactile and are used to augment traditional interviewing techniques, aiming to direct respondents to focus on the key research point without any verbal or direct prompting and to solicit a response. Stimuli also help to make market research, which can often deal in abstract terms or ideas, more real and engaging - i.e. through the use of a physical t-shirt which respondents may then draw on to create their ideal design, as opposed to describing it to the researcher.
The use of stimulus materials is incredibly wide spread and varied. Stimuli may range from t-shirts or clothes as described above, to ideas for packaging, advertisements, building blocks, snippets of sound and a wide array of other items or interactive applications. The choice of stimuli is often related to the market research project in question - for instance, research in to a new brand of cat food may call for several differently branded cat food tins for respondents to give their opinions on.
10. The Power of Sensory Marketing – Indicate each element of Sensory Marketing with explanation.
Sensory marketing relies on the human senses of customers. It appeals to the judgment and behavior of each individual. In short, it focuses on understanding perceptions and stimuli and applying them to marketing campaigns. Thus, we enter the field of consumer psychology, a discipline that plays on many tableaux:
Cognitive processes
Emotional palette
Learning
Personal preferences
Therefore, it proves effective in refining its target marketing. In addition, brands better understand the motivations and restraints of their customers. Such a knowledge base is an essential contribution to account-based marketing. As a reminder, the latter strives to consider its “best” customers as market segments in their own right.
In short, sensory marketing simplifies customer conversion because it contrasts greatly with traditional advertising, which lacks sensory triggers. This process encourages the public to form a positive image of the brands, and, unconsciously. It is then that the perceived quality of products and services is impacted by to: