Community Trust Bank Is Analyzing Its Customer Data to Determine

question 117

Multiple Choice

Community Trust Bank is analyzing its customer data to determine if groups other than the business customers can be identified.The bank is looking at the frequency of branch visits,use of ATMs,online banking activity,loan activity,and account balances for each customer.The bank has identified three groups of customers based on these factors and is considering offering different products to better meet the needs of each group.Which of the following marketing concepts is represented by this exercise?

• A) Total value concept
• B) Market segmentation
• C) Value reengineering
• D) Marketing audit
• E) Environmental scanning

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Definitions:

Social Conditioning

The process by which individuals absorb the values, beliefs, and norms of their society or social group, shaping their behavior and perceptions.

Daoist Sense

Pertains to the principles or perspectives rooted in Daoism, a Chinese philosophy emphasizing living in harmony with the Dao, the fundamental nature of the world.

Basic Rituals

Basic rituals refer to the fundamental, often traditional practices performed by individuals or groups as part of their cultural, religious, or societal customs.

Mexican Philosopher

Refers to philosophers from Mexico who have contributed to various areas of philosophy, including ethics, politics, and metaphysics, drawing from native, European, and global traditions.