The Dentist's Office Calling to Remind You of Your Scheduled

question 4

Multiple Choice

The dentist's office calling to remind you of your scheduled appointment for the next day is an example of ________.

• A) CRM
• B) customer equity
• C) undifferentiated targeting
• D) share of customer
• E) repositioning

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Definitions:

Target Market

The target market is a specific group of consumers at which a company aims its products and services, identified by demographic, geographic, or psychographic characteristics.

Price Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the sensitivity of consumers to price changes.

Inelastic Demand

This economic concept describes a situation where the demand for a product does not significantly change with the price change.

Contribution Margin

A financial metric that represents the amount of revenue from sales that exceeds variable costs, used to cover fixed expenses and generate profit.