Consumer Profiling - Definition & Meaning
What is Consumer Profiling?
Consumer profiling is summarizing consumer data which include their shopping habits, lifestyles, income level, preferences, demographics, and psychographics and purchase behavior patterns. It offers additional insight into customers and to help to identify and gain a deeper understanding of the target market.
Profiling uses similar characteristics to group consumers into profiles, who are more likely to have common habits and interests. It gives a clear picture of who your consumers are and most importantly, how they are likely to behave in the future.
Advantages of Consumer Profiling:
• Helps to define a better targeting strategy
• Stronger customer relationships
• Create more successful and relevant marketing campaigns
• Generates higher response rates from campaigns
• Attract new consumers and increase lifetime value of customers
• It is easy to manage customer database
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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