Week 3 - The death of Marketing Segmentation

I read the article on 'The Death of Segmenation' by IBM's CEO Ginni Rometty. Internet and big data are going to change the way marketers have traditionally targeted their customers. Some of the key take-aways:

• CMOs will spend more on technology than CIOs by 2017
• Big Data is going to make customers want individual attention and they get tailor made offers and services from competitors
• The three Vs of big data are Volume, Velocity and Veracity. Companies must use tools and processes to respond accurately and quickly to the vast amount of data generated by business intelligence tools.

My impressions about the article

Traditionally marketing uses segmentation to target groups of customers. Mass-media still accounts for a large percentage of media consumption, so I don't think traditional segmentation will go away. But customized and individually tailored products and offerings help increase the accuracy and effectiveness of targeting customers. This may be more for customer service and one-on-one interactions than for advertising.