Predictive Modelling in Strategic Marketing

The preferences and predilections of the consumers, and their behaviour and choices are needed to be carefully analyzed as, ultimately, their purchase preferences will increase the market share of the company, maximize its profit and enhance sustainability the most important goal of the company. Dr. Purba Rao's book, through predictive modelling theories, focuses on identifying and profiling of target market segments, developing positioning strategy and brand personality, finding the consumer preferences, offering marketing strategies and delivering value to the customer. The predictive modelling theories discussed in the book help streamline the decision-making process, in order to efficiently target the preferred consumer segment. The book further delineates the decision-making process which is determined by the three approaches: Heuristic approach RFM analysis; Statistical approach logistics regression and conjoint analysis; and Data mining approach Chi-square automatic interactive decision. Software applications such as Excel, SPSS and Answer Tree are used to explain the theories clearly. The book makes use of several examples to elucidate how effective predictive modelling is in identifying the most probable buyer and in determining the market share of a new product.