A Detailed Customer Database, Containing Past Purchases and Other Segmenting

question 231

Multiple Choice

A detailed customer database, containing past purchases and other segmenting information, is used to focus marketing efforts on individual customers in a:

• A) Clustering management system.
• B) Product positioning matrix.
• C) Product differentiation matrix.
• D) Diversification management system.
• E) Customer relationship management system.

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Definitions:

Bowed Shape

A curve representing the relationship between two variables where the curve slopes outward, commonly used to describe certain types of economic functions.

Production Possibilities Frontiers

A figure that depicts the absolute maximum production capacities for two goods, based on a set of inputs that consist of resources and various additional components.

Technological Advances

Innovations and improvements in technology that enhance efficiency, productivity, and the quality of goods and services.

Trade-Off

The concept of giving up one benefit or advantage in order to gain another regarded as more favorable.