Customer Clustering Is Attractive to Marketers Because It

question 18

Multiple Choice

Customer clustering is attractive to marketers because it:

• A)creates clusters from names purchased from a direct marketing vendor.
• B)allows marketers to identify external data lists that match the firm's target customers.
• C)creates clusters of a firm's actual customers based on important purchase criteria.
• D)creates clusters based on the profile of a firm's best customers.

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Definitions:

Opportunity Cost

Skipping over the possibility of gain from multiple options by deciding on a single one.

Opportunity Cost

The cost of choosing one option over alternative uses of resources or opportunities.

Inflation

A sustained increase in the general price level of goods and services in an economy over a period of time, leading to a decrease in the purchasing power of currency.

Government Policies

Government policies are the actions and strategies that governments implement to achieve specific objectives, including economic stability, growth, and social welfare.