Modern Retailers Will Increasingly Rely on Data Analytics to Distinguish

question 37

True/False

Modern retailers will increasingly rely on data analytics to distinguish patterns or trends in consumer shopping behavior across channels to identify the best ways to satisfy customer needs.

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Definitions:

Differentiate

The act of differentiating a product or service from competitors in order to appeal more to a specific target audience.

Loyal Customers

Individuals who consistently prefer and choose a particular brand or product over competitors, often due to satisfaction, rewards, or emotional connections.

Marketing Expenditures

The total costs associated with activities aimed at creating demand for products or services, including advertising, promotions, and distribution.

Mobile Phone

A mobile phone that enables users to make and receive calls using a radio frequency connection as they move around within a service provider's coverage area.