Some Companies Have Large Databases They Have Examined to Determine

question 90

Essay

Some companies have large databases they have examined to determine who their best customers are.Banks,in particular,have analyzed customer data and have learned that the top 5 percent of their customers are very profitable for the bank and the bottom 5 percent are very unprofitable.Name and describe the concept that many marketers are using to assess the value of customer loyalty.

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Definitions:

Essence

The intrinsic nature or indispensable quality of something, especially something abstract, that determines its character.

Self-Identity

An individual's conscious recognition of themselves, comprising elements such as personal values, beliefs, and characteristics.

Universal Spirit

A concept referring to an all-encompassing, omnipresent spiritual presence or force believed to exist throughout the universe.

Hegel

A German philosopher of the late Enlightenment period, known for his dialectical method and his contributions to absolute idealism.