Explain Why Large Firms Use Data Warehouses

question 52

Essay

Explain why large firms use data warehouses.

Acknowledge the essential conditions for an exchange to take place in marketing.

Grasp the importance of customer relationship management and market orientation for sustained business success.

Understand the evolution of marketing activities and priorities across different historical periods.

Identify ineffective practices in implementing the marketing concept.

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Definitions:

Maslow Hierarchy

A psychological theory proposed by Abraham Maslow that outlines a five-tier model of human needs, from basic (physiological) to higher needs (self-actualization).

Lowest Level Need

Refers to the most basic or foundational requirements in a hierarchy of needs, typically associated with physiological or survival needs.

Personal Needs

Personal needs refer to the essential requirements necessary for an individual to achieve basic satisfaction, including physical, social, and psychological needs.

Need For Achievement

A psychological trait characterized by a strong desire to accomplish challenging tasks and meet high standards of success.