Analytical CRM Provides Customer Segmentation, Which Divides a Market into Categories

question 49

True/False

Analytical CRM provides customer segmentation, which divides a market into categories that share similar attributes such as age, location, gender, habits, and so on. By segmenting customers into groups, it becomes easier to create targeted marketing and sales campaigns, ensuring that you are not wasting resources marketing products to the wrong customers.

---

Definitions:

JIT

Just-in-Time is a management strategy that aligns raw-material orders from suppliers directly with production schedules, aiming to reduce inventory costs.

Setup Costs

Setup Costs are the expenses incurred to prepare equipment, machinery, or systems for a manufacturing process or a batch of production.

Inventory

Represents the goods and materials that a business holds for the ultimate goal of resale, production, or utilization in manufacturing.

Basic Commodities

Products or raw materials that are fundamental to an economy or production process, often with minimal processing or refinement.