The Basic Goal of One-To-One Marketing Is To

question 215

Multiple Choice

The basic goal of one-to-one marketing is to:

• A) increase the market for the product category to new and current customers
• B) eliminate the use of mass media for promotion and locate a direct communications channel
• C) increase operating costs and locate new customers
• D) reduce the number of company employees and increase overall sales
• E) reduce costs through customer retention and increase revenue through customer loyalty

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Definitions:

Income Effect

How an individual's or economic income shift influences the demand for goods or services.

Substitution Effect

The substitution effect describes the change in consumption patterns due to a change in the relative prices of goods, leading consumers to substitute one good for another.

Higher Wage

The increased remuneration or salary received by an employee, often as a result of promotions, market adjustments, or successful salary negotiations.

Labor for Leisure

The trade-off between working hours for income and spending time on relaxation or enjoyment activities.