With Database Marketing,firms Use Technology to Analyze Data About Customers

question 92

Multiple Choice

With database marketing,firms use technology to analyze data about customers and their transactions.It has many implications for firms including:​

• A)​It helps firms identify their most profitable customers.
• B)​It eliminates the need for loyalty programs.
• C)​It leads to 100% customer retention.
• D)​It gets some of its data from employer records.
• E)​It increases the lifetime value of each customer's business.

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Definitions:

Short-Run Phillips Curve

A graphical representation that shows the inverse relationship between short-term inflation and unemployment rates, suggesting a trade-off.

Inflation Rate

The percentage increase in the general level of prices for goods and services in an economy over a period of time, often measured annually.

Natural Rate

Often referred to as the natural rate of unemployment, it is the level of unemployment consistent with a stable rate of inflation.

Unemployment

Unemployment is the state of being without a job despite actively looking for work, reflecting the portion of the labor force unable to find gainful employment.