Customer Profitability-Focused Marketing ________

question 20

Multiple Choice

Customer profitability-focused marketing ________.

• A) tracks costs and revenues of individual customers and then categorizes those consumers into tiers based on consumption behaviors that are specific to the company's offerings
• B) minimizes the cost of production in order to offer the product at the best price possible
• C) aggressively markets products to consumers who do not necessarily think that they need the product
• D) continually updates the product without regard to the needs of the consumer
• E) invests money in attracting customers that are very sensitive to price and are not loyal to any given brand

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Definitions:

Total Revenue

This is the total amount of money a firm receives from the sale of its products or services, calculated by multiplying the price per unit by the number of units sold.

Sellers' Total Revenue

The total amount of money received by sellers from selling a certain amount of goods and services.

Total Revenue

The complete revenue a firm earns from its sales of products or provision of services within a given period.

Elastic Demand

A situation in which the quantity demanded of a product changes significantly in response to changes in the product's price.