Which of the Following Techniques Used to Analyze Marketing Databases

question 21

Multiple Choice

Which of the following techniques used to analyze marketing databases considers whether a customer has made a purchase recently as well as how often that customer makes a purchase?

• A)recency-frequency-monetary analysis
• B)predictive modelling
• C)data mining
• D)lifetime value analysis

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Definitions:

Cross-Price Elasticity

A measure of how the quantity demanded of one good changes in response to a price change of another good.

Complementary Goods

Products or services that tend to be used together, where the consumption of one enhances the use of the other.

Income Elasticity

A measure of how much the demand for a good changes in response to a change in consumers' income.

Cross-Price Elasticity

A measurement of how the quantity demanded of one good responds to a change in the price of another good.