One of the Major Tools Used by Marketers to Meet

question 79

Multiple Choice

One of the major tools used by marketers to meet the needs of loyal customers is

• A) SKU.
• B) PDQ.
• C) IMF.
• D) CRM.
• E) GATT.

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Definitions:

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a person's mind when evaluating a specific topic, concept, method, or decision.

Representativeness Heuristic

Judging the likelihood of things in terms of how well they seem to represent, or match, particular prototypes; may lead us to ignore other relevant information.

Algorithm

A fixed, step-by-step procedure or set of rules for solving a problem or accomplishing a task.

Concept

A mental grouping of similar objects, events, ideas, or people.