Cluster Analysis is a method of statistical analysis that involves grouping individuals or objects by common characteristics of interest to the researcher. This technique is extensively used in various fields like marketing, finance, and sociology to identify patterns or behaviors among different groups for targeted actions.
Database marketing refers to a marketing strategy that relies on the collection, analysis, and usage of customer data to devise targeted marketing campaigns. Utilizing detailed information from various consumer interactions, this method ensures messages are relevant and personalized but can be costly due to extensive data collection and analysis.
Direct mail is a form of advertising in which physical promotional materials are sent directly to the recipients via postal mail. It is the third-largest advertising medium following newspapers and television. This method allows businesses to target specific segments of the population effectively, leveraging addresses and other niche data to tailor campaigns. Direct mail can take various forms, including postcards, catalogs, brochures, and letters.
