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If you haven't already, plan to buy and install a database marketing system in 1998. You may also need to train a staff person to run it. Also referred to as a Marketing Customer Information File, this could be the most important investment for your future growth and survival.
Database marketing systems allow you to compile data about your customers from various electronic sources (in-house, vendor or processor) and analyze this data at the account level, by household, by product line and by branch. The results give you the objective information you need for pricing, product development, cross-selling and employee incentive decisions. Such a system also keeps you informed about …
