Venus Was a Low-Cost Airline That Operated in the 1980s

question 34

Multiple Choice

Venus was a low-cost airline that operated in the 1980s. Industry analysts state that although Venus was able to provide all the services the customers wanted, it was thrown out of business because of aggressive pricing from larger airline firms. Which of the following aspects of the competitive environment does this scenario illustrate?

• A)Customers
• B)Rivals
• C)Regulators
• D)The economy
• E)Social trends

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Definitions:

Customer Satisfaction

A measure of how products or services meet or exceed customer expectations.

Geofencing

A location-based technology that creates a virtual boundary around a geographical area, enabling businesses to send targeted messages or ads to mobile devices within that region.

Relationship Marketing

A strategy focused on building long-term relationships with customers rather than focusing solely on individual sales.

Data Mining

The practice of examining large databases in order to generate new information or find hidden patterns and insights.