After World War II, Consumers Were Able to Make Purchase

question 84

Multiple Choice

After World War II, consumers were able to make purchase decisions based more on their wants and desires than necessity. As a result, more companies discovered the benefits of

• A)personal selling.
• B)economies of scale.
• C)marketing.
• D)mass customization.
• E)online shopping.

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Definitions:

Marketing Databases

Collections of data and information regarding customers, potential customers, market trends, and competitor analysis, used to inform marketing strategies and campaigns.

Environmental Scan

The process of collecting and analyzing external and internal data to understand the market environment, including trends, opportunities, and threats.

Action Analysis

The process of examining and breaking down the actions required to achieve a particular goal or objective.

Situational Analysis

The process of identifying internal and external factors that can affect an organization's performance, often as a part of strategic planning.