Evaluating market segments and appeal of products
How to evaluate the profitability and stability of market segments and how a range of products may appeal to different market segments.
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The principles of market segmentation
The importance of defining market segments and how the characteristics, motivations and behaviours of potential target customers
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How can you test and optimise digital marketing campaigns?
Agile approach: The traditional approach is known as waterfall and projects are completed through a number of sequential ad overlapping phases
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Tools used for tracking data
Tracking codes can be in the form of website URLs that an organisation to track the effectiveness of their marketing campaign, it tracks and records how users interact with a website and where they came from
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Features of analytics software and how you can customise it
Ecommerce tracking: This feature allows you to track and find out where your most profitable customers come from, therefore if you know where they’re coming from, you can use it to find more ways to gain more customers that make you money
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Why is statistically significant data important
Validity Statistically significant data needs to be valid, this means that it needs to be genuine and credible as well as have sufficient research behind it to support any relationship findings. Reliability Statistically significant data also needs to be reliable, this means that the results or findings should yield the same results if they were
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The stages of the customer experience of the sales funnel
The awareness stage of the sales funnel is about generating and increasing the visibility and awareness about the brand and the products and services it offers to its target consumers
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How a range of factors affect the sales funnel conversion rates
Consumer life cycle The consumer lifecycle is the different stages which consumers go through before, during and after they make a purchase, the stages of the consumer lifecycle are awareness, engagement, purchase, retention/loyalty, growth and advocacy. The consumer lifecycle can affect the conversion rates of the sales funnel, this is because once a consumer becomes
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