Database Marketing Works by Using Multivariate Analysis, Data Segmentation, and Automated

question 58

True/False

Database marketing works by using multivariate analysis, data segmentation, and automated tools to transform marketing from a proactive to a reactive process.

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Definitions:

Utility Function

A utility function is a mathematical representation used in economics to depict the satisfaction or utility a consumer derives from consuming a good or service.

Price of X

The monetary value or cost assigned to a good or service denoted by "X."

Price of Y

Refers to the cost assigned to a good or service denoted by the variable "Y."

Bundle

A combination or collection of goods or services that is considered as a single unit by consumers or businesses.