When an Organization Attempts to Offer the Right Products and Services

question 9

Multiple Choice

When an organization attempts to offer the right products and services to customers at the right time through the offer of individual promotions tied to specific events,like birthdays and anniversaries,this is referred to as:​

• A)​Event-based marketing
• B)​Segmented selling
• C)​Personal holiday marketing
• D)​Extreme segmentation marketing

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Definitions:

Economically Most Efficient

The state of achieving the highest level of output with the lowest possible input, optimizing the use of resources without waste.

Resource Prices

The cost of inputs used in the production of goods and services, such as labor, raw materials, and capital.

Market System

An economic system relying on market forces to allocate resources and to determine and regulate prices for goods and services.

What Will Be Produced

A fundamental economic question that addresses the kinds of goods and services to be made available in an economy, determined by factors such as resources, technology, and consumer preferences.