Data Mining and Data Coding of a Firm's Database Can

question 42

True/False

Data mining and data coding of a firm's database can help a firm develop more personalized marketing communications and marketing programs.

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Definitions:

Economic

Pertaining to the production, distribution, and consumption of goods and services, as well as the study of how societies utilize limited resources to fulfill wants and needs.

Competitive Advantage

The unique attribute or attributes a company has that enable it to outperform its competitors.

Strategic Thinking

The process of analyzing critical factors and variables that will influence the long-term success of a business, then mapping out actions to achieve desired goals.

Industry Attractiveness

A measure of the potential profitability and prospects for growth within a particular industry or market sector.