What is Customer Satisfaction ?
February 12, 2025
Setting up a web page and promoting online business has become a necessity for all business organisations, irrespective of the size of the organisation and the business. Every minute, several thousands of people from all over the world are accessing the internet and searching for products and information. A few hundred of them could be […]
The Why and How of Corporate Philanthropy Corporate and business leaders often have humanitarian urges and instincts to help society after they have achieved a certain amount of success in their professional careers and fulfillment in their personal lives. Indeed, most corporate and business leaders once they have become legends often have an attitude of […]
Introduction This article analyzes the strategy of the world’s leading furniture retailer, IKEA using the SWOT Methodology. The company was founded in 1943 and is known for its simple yet effective approach to retailing with the DIY or the Do It Yourself concept, which ensures that the company keeps costs to a minimum and passes […]
AT&T Universal Card Services entered the credit card market at a time when the market was mature and there were numerous retail banking companies dealing with credit cards. In such a situation, the company chose to introduce their credit card with a competitive edge over competition. Against a market where in customers were paying huge […]
What Are Green Supply Chains and what is meant By Net Zero and Carbon Footprint? With concerns over climate change mounting and with the global push towards sustainability and the commitments to Net Zero carbon emissions in the near future, businesses have to look for ways and means to incorporate environmentally friendly practices in their […]
Regression scoring is one of the difficult but more precise and faithful marketing technique as compared to profiling and modeling. For targeting new and esteemed customers all the organization substantially pursue regression scoring techniques. Following is the process involved in regression scoring:
Following are the general types of regression scoring which are implemented according to specific need by the organization:
Regression scoring has many advantages over other marketing methods. The primary advantage is that it measures the usefulness of variables that helps in determining which prospect to target and when. Secondly it provides a sophisticated and scientific process to determine the cutoff values or scores for a particular marketing campaign. The outcome of regression scoring helps in enhancing marketing efficiency. The primary and the only disadvantage of regression scoring is that the whole process is very complex and costlier as compared to profiling which is easy to perform.
Even if regression scoring is considered as complex and costly process but it is hardly recommended for an organization to implement regression scoring as it usually targets high marketing efficacy and effectiveness. In acquiring new customers regression scoring is the most capable and important marketing process that yields great results, hence organization should usually compromise on complexity and cost.
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