Which of the Following Is True About Database Marketing

question 40

Multiple Choice

Which of the following is true about database marketing?

• A)It is at the core of customer relationship marketing.
• B)It assumes that all customers have the same needs.
• C)It avoids building a more personal relationship between the business and the customer.
• D)It treats all customers as the same,instead of assuming that each customer is unique.
• E)It prioritizes creating efficiency through technological advances over building customer relationships.

Understand the process of determining customer demand using Poisson distribution and modeling cancellations with Crystal Ball functions.

Learn how to predict overbooked situations and calculate net revenue in reservation systems using simulations.

Comprehend the use of various Crystal Ball tools (e.g., spider chart, sensitivity chart) to analyze and display the impact of model variables.

Practice fitting distributions with Crystal Ball and using decision tables for analysis to maximize profits or other metrics.

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Definitions:

Unit Variable Cost

The cost associated with producing one additional unit of a product, including labor and materials, which varies with the production volume.

Monthly Expenses

The total amount of money spent by an individual or organization within a month, covering all necessary and discretionary expenses.

Unit Variable Cost

The cost associated with producing one additional unit of a product, not including fixed costs.

Variable Cost

Costs that vary directly with the level of production or service activity, such as materials and labor costs, unlike fixed costs which remain constant regardless of activity levels.