Week 7 Event Based Marketing

Week 7 Event Based Marketing


Starting off with the basic Rule “Rubbish in Rubbish out rule” Daniel explained how the data to be gathered in the process of evolving a Good CRM for an organisation. The step by step development of the CRM process and how the analytical and operational CRM should coordinate to achieve best result was in depth and practical knowledge of how and efficient CRM to be deployed in an organisation.


The marketing strategies used by organisations are interesting and could prove to be beneficial to organisations, I personally believe that Event based marketing depends cannot be depended up on too much as its response will differ with the same customer based on their current situation. It was interesting to know that banks target customers making large deposit to attract them to change it to high interest accounts to gain the trust to push the business down the line. I’m still not sure if the banks are doing it for their profit, or understanding the customer needs. Taking example given by Daniel Tehan, banks first call the customers to change their money in high interest accounts and target them for a home / car loans and any other product which the customer wouldn’t have taught of. I believe this provokes the customer to take some attractive product (remembering the seminar by Barry Schwartz in week 3 – more choices worsening the lives) just because it’s offered, rather going by his own plan. Customer might have deposited the money for another purpose or simply saving the money to buy a car/ home in later stages
Of course organisation eyes for potential customer and for its profit but the question here is are they doing it having the interest of their customer as first priority?
As explained by Daniel, banks know who the individual is. What are his commitments and how much money coming in and going on regularly and what product can we offer the customer.
To get very accurate information banks have access to every detail and financial situation of an individual. My question here is where does the individual privacy stand here I believe this lacks some ethical issues as well. Thought the banks would have got the consent of the customer to access their personal information, this doesn’t simply allow the employees to access another individual’s information.

Like I mentioned earlier, this strategy may be of great help for the business to understand the customer behaviour, analyse the best product suited for the customer and increase the revenue, it may prove to be a great success but are the customers needs and good will considered in the long run? This question needs to be answered