While Many Catalog Retailers Send Out a Standard Catalog to All

question 54

Multiple Choice

While many catalog retailers send out a standard catalog to all potential customers,Land's End uses information it has gathered about customers in its CRM system to target the catalog to the individual.This approach used by Land's End is an example of the _____ approach.

• A) shotgun
• B) rifle
• C) Square peg,square
• D) Fishing pole
• E) All of these statements can be used to describe the approach used by Land's End.

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Definitions:

Unbundling

Separating out the individual goods, services, or ideas that make up a product and pricing each one individually.

Break-even Analysis

A calculation to determine the point at which revenue received equals the costs associated with receiving the revenue, marking the no-profit, no-loss situation.

Price Sensitivity

The degree to which the price of a product affects consumers' purchasing decisions, often influenced by their perception of value and disposable income.

Price Sensitive

Describes consumers or markets that are highly responsive to changes in the price of goods or services.