Data Mining Has Allowed Federal Express to Identify Existing Customers

question 85

Multiple Choice

Data mining has allowed Federal Express to identify existing customers as 'the good,the bad,and the ugly.

• A)customer acquisition; market basket analysis
• B)customer acquisition; customer abandonment
• C)customer abandonment; customer retention
• D)customer retention; customer loyalty
• E)customer loyalty; customer acquisition

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Definitions:

Age Group

A segment of a population defined by age. People in the same age group generally face similar life experiences and challenges.

Services

Intangible products provided to consumers, including healthcare, education, banking, and entertainment, distinct from physical goods.

Savings Function

A mathematical expression that depicts how savings vary with changes in income, usually stating that savings are a function of disposable income.

Induced Consumption

The portion of consumer spending that varies with changes in disposable income, suggesting that as people earn more, they spend more.