During which era did businesses switch their focus to place special emphasis on pleasing customers after the sale?
A) customer relationship era
B) production era
C) marketing era
D) societal marketing era
E) sales era
A
Explanation: A) CRM, or customer relationship management, is the process of establishing long-term relationships with individual customers to foster loyalty and repeat business. CRM goes one step further than the marketing concept by attempting to please customers after they have purchased products. In the sales era, public advertising was used heavily to increase the initial sale of products. And in the production era, it was a seller's market so the companies that produced the products had a strong customer base because demand was greater than supply. Societal marketing challenges companies to profit by working for the benefit of both consumers and society.
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A) 5% B) 10% C) 15% D) 20% E) 25%
Perception is the process by which an individual selects, organizes, and interprets information inputs to create a meaningful picture of the world. For a marketer, what is the key point of perception?
What will be an ideal response?
The average number of customers that visited a particular store during the past year is 160 per day and a standard deviation of 25 customers per day. A random sample of 64 days is chosen from this population. The standard deviation of the sample mean equals:
a. 12.649. b. 25.0. c. 2.56. d. 3.125. e. 8.0
If there is a very weak correlation between two variables, then the coefficient of determination must be
A. much larger than 1, if the correlation is positive. B. much smaller than -1, if the correlation is negative. C. equal to one. D. closer or equal to zero.