The Marketing Managers at Omaha Steaks Used Airlines' Databases to Mail

question 30

Multiple Choice

The marketing managers at Omaha Steaks used airlines' databases to mail a special offer to frequent flyers. Eight weeks after shipping the steaks to the frequent flyers who responded to the offer, the company's salespeople followed up by telephoning customers to ask for new orders. This is an example of which types of nonstore retailing?

• A) direct selling and telemarketing
• B) direct mail and telemarketing
• C) telemarketing and online retailing
• D) online retailing and direct mail
• E) direct mail and direct selling

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Definitions:

Reserve Ratio

The fraction of depositors' balances that banks must have on hand as cash, a regulation enforced by central banking authorities.

Reserves

Funds or materials set aside or saved for future use or to cover unforeseen expenses; in banking, it refers to the fraction of deposits that a bank keeps in hand to ensure liquidity.

Deposits

Funds placed into an account at a financial institution for safekeeping, which can include savings accounts, checking accounts, and certificates of deposit.

Excess Reserves

Banking reserves that are held by a bank in excess of what is required by regulations or central bank requirements.