The Overall Concept or Model That Guides the Firm as It

question 3

Multiple Choice

The overall concept or model that guides the firm as it weaves various marketing elements together into a coherent strategy is called its:

• A) marketing strategy.
• B) operational focus.
• C) strategic posture.
• D) marketing thrust.
• E) strategic focus.

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Definitions:

Bundling

The practice of selling multiple products or services together as a single combined package, often at a discount compared to purchasing each one separately.

Downselling

Downselling involves offering a lower-priced alternative to a product or service a customer is considering, aiming to make a sale when the original item is beyond the customer's budget.

Upselling

A sales technique where a seller invites the customer to purchase more expensive items, upgrades, or other add-ons in an attempt to make a more profitable sale.

Analytical CRM

A type of Customer Relationship Management (CRM) focused on capturing, interpreting, and analyzing customer data to improve decision-making and customer relationships.