Data-driven marketing in the context of "Marketing research"

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⭐ Core Definition: Data-driven marketing

Targeted advertising or data-driven marketing is a form of advertising, including online advertising, that is directed towards an audience with certain traits, based on the product or person the advertiser is promoting.

These traits can either be demographic with a focus on race, economic status, sex, age, generation, level of education, income level, and employment, or psychographic focused on the consumer values, personality, attitude, opinion, lifestyle, and interests. This focus can also entail behavioral variables, such as browser history, purchase history, and other recent online activities. While this may appear efficient, targeted advertising should not be underestimated. It has created new channels for algorithmic oppression and has made many consumers more vulnerable to discrimination and marginalization.

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👉 Data-driven marketing in the context of Marketing research

Marketing research is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services. The goal is to identify and assess how changing elements of the marketing mix impacts customer behavior.

This involves employing a data-driven marketing approach to specify the data required to address these issues, then designing the method for collecting information and implementing the data collection process. After analyzing the collected data, these results and findings, including their implications, are forwarded to those empowered to act on them.

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