A Typical Customer Database Is an Organized Collection of Geographic,demographic,psychographic,and

question 26

Multiple Choice

A typical customer database is an organized collection of geographic,demographic,psychographic,and ________ data about individual customers or prospects.

• A) ethical
• B) cultural
• C) medical
• D) behavioral
• E) emotional

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Definitions:

Manufacturers Decide

The process by which companies determine what products to produce, how much to produce, and at what price to sell based on market demand and other factors.

Market Economy

An economic system where supply and demand from consumers and businesses drive economic decision-making and the allocation of resources.

Economic Decisions

Choices made by individuals, firms, or governments regarding allocation of resources to satisfy needs and desires.

Laissez-Faire Economy

An economic system in which transactions between private parties are free from government intervention such as regulation, privileges, tariffs, and subsidies.