To Create Value for Customers and Build Meaningful Relationships with Them

question 78

Essay

To create value for customers and build meaningful relationships with them, marketers must ultimately _________.
perform thorough ethnographic research
implement marketing intelligence
gain a deep understanding of customers' needs and wants
provide attractive promotions
make consumers loyal

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Definitions:

68-95-99.7 Rule

A statistical rule stating that for a normal distribution, approximately 68% of data values fall within one standard deviation of the mean, 95% within two standard deviations, and 99.7% within three standard deviations.

Natural Tolerances

The inherent variability found within a natural process or system's parameters.

Normal Distribution

It is characterized by a symmetric shape around the mean, where data samples are more densely populated close to the mean and less so the farther they are from it.

Inside Diameter

The measure of the distance across the innermost part of a hollow object or space.