LLBean Is a Retailer Best-Known for Direct Marketing Through Catalogs

question 37

Multiple Choice

L.L.Bean is a retailer best-known for direct marketing through catalogs and the Internet. Laurie purchased from the retailer quite frequently, but since her daughter started college she hasn't had as much disposable income and stopped ordering merchandise. The elapsed time since her last purchase triggered an offer for $20 off her next purchase from the retailer. This is an example of _____.

• A) database marketing
• B) neural networks
• C) customer discovery
• D) electronic marketing

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Definitions:

Price Ceiling

A legally established maximum price that can be charged for a good or service, aimed at preventing prices from rising too high.

Creates Shortage

A market condition where the quantity demanded exceeds the quantity supplied at a given price, often due to price controls like price ceilings.

Price Floor

A government-imposed minimum price level for a particular commodity or service, aimed at protecting producers.

Legal Minimum

A legally established lower threshold for payments or conditions, such as minimum wage.