Sources of Data
Although organizations of any size can employ database marketing, it is particularly well-suited to companies with large numbers of customers. This is because a large population provides greater opportunity to find segments of customers or prospects that can be communicated with in a customized manner. In smaller (and more homogeneous) databases, it will be difficult to justify on economic terms the investment required to differentiate messages. As a result, database marketing has flourished in sectors, such as financial services, telecommunications, and retail, all of which have the ability to generate significant amounts of transaction data for millions of customers.
Database marketing applications can be divided logically between those marketing programs that reach existing customers and those that are aimed at prospective customers.
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—Harriot K. Hunt (1805–1875)
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—P.J. (Patrick Jake)
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—F. Scott Fitzgerald (1896–1940)