The Ritz Carlton Hotel Chain Is Renowned for Its Service

question 12

Multiple Choice

The Ritz Carlton hotel chain is renowned for its service and individual treatment of its customers.All service staff and employees have note pads and are taught to record every little piece of information they learn about a customer.If a business traveler ordered soft pillows,only wanted martinis in his mini bar,and needed access to a fax machine,he would find all of these amenities in his room when he arrived.The Ritz Carlton is basing its one-to-one marketing on which of the following trends?

• A) the growing number of customers who do not have time to spend shopping
• B) the fact consumers do not want to be treated like the masses
• C) data mining capabilities
• D) the use of reward systems to increase brand loyalty
• E) the growing market for luxury products

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Definitions:

Recessionary Period

A time of economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

Standard Deviation

A measure of the dispersion of a set of data from its mean, indicating how spread out the data points are.

Expected Return

The average return an investor anticipates receiving on an investment, considering all potential outcomes.

Expected Return

The potential return on an investment, taking into account both the probability of gains and the risk of loss.