Review Exhibit 8-49. What are some marketing strategies that might meet the needs and wants of customers within the four different clusters?

 Exhibit 8-49.

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SEGMENT NAME Silver: weakest customers. Gold: valuable customers when they decide to shop. Platinum: valuable customers with significant potential. Ambassadors: best customers. CUSTOMER CHARACTERISTICS High Recency Low Frequency Low Monetary Value (Red) Medium Recency Medium Frequency Medium value customer because they produce a modest monetary Medium-Low Monetary Value value and fall in the middle when it (Green) comes to the frequency of purchase history and most recent visit to the online store. This segment might benefit from cross-selling offers. Valuable customer because they produce a modest monetary value, Medium-High Monetary Value fall in the middle when it comes to (Orange) the frequency of purchase history, and have a history of recent purchases. This segment could use a reminder to return for special offers. High Recency Medium Frequency DEFINITION Low value customer because they produce less monetary value, have not visited the online store in a while, and do not have a history of frequent purchases. This segment can potentially benefit from new product announcements. Low Recency High Frequency High Monetary Value (Blue) Extremely valuable customer because they produce high monetary value, have a history of frequent purchases, and have recently visited the online store. This segment could be targeted with exclusive offers for best customers.