Customer Profiles

ALSO CALLED: Profile Customers, Profiling Customers, and Customer Analysis
DEFINITION: Customer segmentation is the practice of dividing a customer base into groups of individuals that are similar in specific ways relevant to marketing, such as age, gender, interests, spending habits, and so on. Using segmentation allows companies to target groups effectively, and allocate marketing resources  … 
Definition continues below.

CUSTOMER PROFILES DEFINITION (continued): …  to best effect. According to an article by Jill Griffin for Cisco Systems, traditional segmentation focuses on identifying customer groups based on demographics and attributes such as attitude and psychological profiles. Value-based segmentation, on the other hand, looks at groups of customers in terms of the revenue they generate and the costs of establishing and maintaining relationships with them.

Customer segmentation procedures include: deciding what data will be collected and how it will … 
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