Advancing Business Success Through Precision Marketing: A Study on Customer Segmentation and Profitability in the Republic of Macedonia

Abstract

The basic function of businesses is communication between the business and customers. From a company-wide perspective, customers can be divided into profitable and non-profit customers. Companies have a special interest in profitable customers, and all marketing activities are aimed at retaining them and turning them into loyal customers. It's never fun to manage to let go of customers who aren't good for the company. On the contrary, it may appear to violate human rights in business-consumer relations. The economic value of a business tells us that resources should be transferred from customers providing negative economic benefits to customers providing positive economic benefits. In this case, the concept of marketing needs to be studied and updated to understand that it is a means of communication between the company and the market. Precision Marketing is a concept that facilitates the integration and understanding of segmentation and positioning techniques to better serve customers, thereby increasing overall profits and profits. It is a good relationship. The main purpose of business sensitivity is to understand the customer as the core value of the business, especially now the number of businesses with customers in the market is increasing.