In Addition to Rewarding Customers, Gatersby Inc

question 74

Multiple Choice

In addition to rewarding customers, Gatersby Inc.'s loyalty program provided the firm with reams of customer information in its database._____ is the most efficient way to use this information to make better marketing decisions.

• A)Relationship marketing
• B)Data mining
• C)Data warehousing
• D)Database marketing

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Definitions:

Absolute Advantage

The capacity of a nation, person, or company to generate a greater quantity of a product or service than its rivals with an identical level of resources.

Trade

The exchange of goods, services, or both between parties, often involving the transfer of money.

Commodity

A basic good used in commerce that is interchangeable with other goods of the same type; commodities are often used as inputs in the production of other goods or services.

Comparative Advantage

The competency of a country, individual, corporation, or region to manufacture a good or provide a service at a reduced opportunity cost than that of its competition.