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"Optimizing Rhenania’s Direct Marketing Business Through Dynamic Multi-Level Modeling (DMLM)" by Ralf Elsner, Arnd Huchzermeier, Manfred Krafft Rhenania, a German direct mail-order company, turned its catalog mailing practices around within one year and consequently moved up in market position from number five to number two. A new dynamic multi-level modeling (DMLM) approach was developed to answer the most important direct market questions: (1) when, (2) how often, and (3) to whom in our customer base should we mail to? The uniqueness of this modeling approach is that (1) customers are being dynamically evaluated based on their past purchase history, and (2) it allows for a derivation of a threshold level of sales per customer for profit maximization of mailing campaigns over time and across multiple customer segments. The DMLM approach was so effective that Rhenania outperformed the market by far and in a relatively short period of time could acquire two of its major competitors (one of them bigger than Rhenania, i.e., a subdivision of the Springer Publishing Company).
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Video Length: 471
Date Found: June 16, 2010
Date Produced: June 16, 2010
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MIT TechTV |
July 13, 2011
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MIT TechTV |
July 07, 2011
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MIT TechTV |
June 27, 2011
The emerging cleantech venture`s pilot has been supported by government grants now it is time to scale. Cleantech requires significant funding, often larger than traditional vc`s are structured to support. How does a cleantech venture scale to grow? Hear from national project developer ...
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MIT TechTV |
June 27, 2011
Three leading New York venture capital firms will provide their strategies for 2011. Understanding venture capital firms’ strategies is critical in order to obtain venture capital. Prior to the panel discussion, PwC will present a summary of the 3rd quarter 2010 MoneyTree Report. The MoneyTree ...
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MIT TechTV |
June 27, 2011
With the recent passage of healthcare reform legislation, corporate consolidations, and a `get tough` policy at the FDA, it is difficult to tell what the commercial healthcare landscape will look like during the next five years. A distinguished panel of experts representing biopharmaceuticals, ...
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