Community Trust Bank Is Analyzing Its Customer Data to Determine

question 4

Multiple Choice

Community Trust Bank is analyzing its customer data to determine if groups other than simply consumer and business customers can be identified. It is looking at the frequency of branch visits, use of ATMs, online banking activity, loan activity, and account balances for each customer. The bank has identified three groups of customers based on these factors and is considering offering different products to better meet the needs of each group. What marketing concept do these different groups of customers represent?

• A) target marketing
• B) market segmentation
• C) positioning
• D) marketing audit
• E) environmental scanning

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Definitions:

Education and Involvement

Processes of learning and actively participating in activities or causes to gain knowledge, skills, and experience.

Facilitation and Support

Assistance provided to individuals or groups to make tasks easier or to help ensure successful outcomes, often involving guidance, resources, or tools.

Organizational Development (OD)

A domain focused on enhancing our understanding and efficiency in achieving more effective organizational change and improvement through research, theory, and application.

Diagnosis

The process of identifying and determining the nature of a problem or disease from its symptoms.