When Toronto-Based Fairmont Resort Hotels Used Data Mining to Find

question 4

Multiple Choice

When Toronto-based Fairmont Resort Hotels used data mining to find out what kinds of vacations their customers preferred, and then placed ads where they were more likely to reach those customers, this was an example of

• A) consumer relationship management.
• B) product differentiation.
• C) data warehousing.
• D) aggregate marketing.
• E) industrial marketing.

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Definitions:

Book Value

The net value of a company's assets minus its liabilities, as recorded on the balance sheet.

Operating Costs

Expenses associated with the day-to-day operations of a business, including rent, utilities, payroll, and raw materials.

Useful Life

The estimated period that an asset is expected to be usable for its intended purpose, impacting depreciation calculations.

Variable Cost Concept

The principle that costs vary in proportion to the level of production or activity. These costs increase as production increases and decrease as production decreases.