HMGT- Marketing and Sales Final – Flashcards
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The social and managerial process by which individuals and groups obtain what they need through creating and exchanging products and value with others is called
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marketing
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Marketing mix elements do not include
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marketing information systems
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Instead of simply being defined as "freedom from defects," QUALITY should be defined
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In terms of customer satisfaction
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When backed by buying power, wants become...
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Demands
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anything that can be offered to the market to satisfy a want or need
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product
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it's important to assess this customer value in order to ensure long-term support
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long-term value
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describes a channel that stretches from raw materials, to components, to final products that are carried to final buyers
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supply chain
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The fact that a business traveler will have a very positive check-in experience during one stay at a hotel and then a very negative check-in experience the next time is an issue related to which service characteristic?
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variability
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If you manage a 200-room hotel, and only sell 150 rooms tonight, you can't stockpile the extra 50 rooms to sell tomorrow. This is a problem with the ________ of services
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perishability
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Perhaps the best measure of service quality is
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customer retention
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Studies have shown the best way to deal with service failure is to
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give the customer timely information regarding failure
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In a well-run hospitality organization, there are two customers—the paying customers and the
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employees
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Revenue management grew out of ___________ management, which was introduced in the 1980s.
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yield
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It is better to give the customer a time ____________ the anticipated wait time.
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longer than
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A system of values and beliefs in an organization that reinforces the idea that providing the customer with quality service is the principal concern of the business is called
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service culture
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A well worked-out ________ provides company employees with a shared sense of purpose, direction, and opportunity.
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mission statement
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The principal objective of a market-oriented mission statement is to
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satisfy basic customer needs
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If a hotel chain buys one of its suppliers, it is engaging in what type of growth?
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backward integration
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The ideal target market for a firm is the one in which it can profitably generate the greatest customer ________ and ________ it over time.
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value; sustain and grow
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growth makes sense when good opportunities can be found outside the present businesses.
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Diversification
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is the marketing logic by which the company hopes to create customer value and achieve profitable relationships.
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marketing strategy
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consists of the forces close to the company that affect its ability to serve its customers.
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microenvironment
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The most dramatic force shaping our destiny is
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technology
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environment includes institutions that affect society's basic values, perceptions, preferences, and behaviors.
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cultural
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The Internet has created both __________________________________ transparency
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disintermediation and pricing
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is any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives.
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public
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Each society contains _____________, groups of people with shared value systems based on common life experiences or situations
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subculture
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The single most important element in any hospitality information system is a process for
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capturing guest history information
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The type of research used to gather preliminary information to help generate a research hypothesis is called
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exploratory research
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If you are in a hurry to collect survey data, the worst method to use is
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mail surveying
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"Customers" who are in reality undercover employees of hotel management are called
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mystery shoppers
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A process that identifies and defines marketing opportunities and problems, monitors and evaluates marketing actions and performance, and communicates the findings and implications to management is called
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marketing research
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Among the four contact methods—mail, telephone, personal, and online—which is the poorest in terms of controlling the interviewer effect?
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internet
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The factor that exerts the broadest and deepest influence on behavior is
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culture
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The buyer decision process begins with
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need recognition
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The most important consumer buying unit in the United States (one that has been researched extensively) is the
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family
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When we screen out information coming at us, we are engaged in the act of
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selective retention
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Social scientists have identified _________ American social classes.
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seven
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may also have a strong influence on family buying decisions
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children
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Individuals that have the power to prevent sellers from reaching the buying center are called
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gatekeepers
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The first step in the buygrid framework is that of
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problem recognition
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are rewards that participants receive for achieving a goal
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incentive meetings
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SMERF stands for
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Social, Military, Educational, Religious, and Fraternal
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LEED stands for
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leadership in energy and environmental design
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Users, Influencers, Approvers, Buyers, and Gatekeepers are participants in the
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Organizational buying process
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With ________ the seller identifies market segments, selects one or more, and develops products and services tailored to each selected segment
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differentiation marketing
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The three stages of target marketing are market segmentation, market targeting, and
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market positioning
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Which of the following is a psychographic segmentation variable?
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social class
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In using a(n) ________ marketing strategy, a company ignores market segmentation and goes after the entire market with one market offer.
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undifferentiated
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Loyal customers are price _____________ compared to brand-shifting patrons.
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insensitive
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Undifferentiated marketing is more suited for _____________ products.
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homogeneous
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The ________ product level answers the question of what is really being bought.
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core
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The additional consumer services and benefits built around the actual product are called the:
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supportive product
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The added value endowed on products and services is the:
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brand equity
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In the ________ phase of the new product development process, prototypes appear for the first time.
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product development
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In the ________ of the product life cycle, sales decrease and supplies start to exceed demand.
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maturity
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The most important source of new product ideas is
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the customer
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A moment of truth occurs when employees and ________ have contact
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customers
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An internal marketing program requires a strong commitment from
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management
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In a service-oriented organizational culture ________ are at the top of the organization.
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the customers
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is when a firm moves the authority and responsibility to make decisions to the line employees from the supervisor.
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empowerment
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Marketing by a service firm to effectively train and motivate its customer-contact employees and all the supporting service people to work as a team to provide customer satisfaction is called
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Interactive marketing
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Training employees to do two or more jobs within the organization is called
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Cross-training
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A server in a restaurant who convinces a patron to buy a t-shirt at the front counter is
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cross-selling
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For which goods could the demand slope curve upward?
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prestige goods
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In the short run, the most important pricing strategy is
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sales maximum
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The basic break-even price is
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fixed costs divided by selling price
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Costs that do not vary with production levels are called
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Fixed Costs
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During periods of weak demand very few competitors escape the effect of a ________ market
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weak
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A restaurateur buying produce from a grower at a farmers' market is an example of
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direct marketing channel
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computerized reservation systems that serve as a product catalog for travel agents and other distributors of hospitality products
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Global distribution system (GDS)
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The chances of succeeding are the highest if you
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buy a franchise
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In a supply chain, "downstream" from the company is a set of firms that
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connect them to their customers
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Conflicts between different levels of the same channel are termed
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vertical conflict
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In the buyer readiness process, the state that immediately precedes purchase is
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conviction
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The most logical method of setting the promotion budget is the
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objective and task method
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The ________ method of promotion budgeting views sales as the cause of promotion rather than as the result.
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percentage-off sales method
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advertising is used when introducing a new product
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informative
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Viral marketing messages have a higher chance of being opened because they come from a
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friend
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The process by which the receiver assigns meaning to the symbols encoded by the sender is called
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decoding
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advertising is used for mature products
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informative
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covers internal and external communications and promotes understanding of the organization
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corporate communication
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Cause-related marketing is directly used to create
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goodwill
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crises give a warning before they occur
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smoldering
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Lobbying involves dealing with legislators and government officials to _____________ legislation and regulation
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promote or defeat
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In preparing for crisis communication, it is important to train employees regularly and document such training for
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crisis management
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The first step in the personal selling process is
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prospecting
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Sales representatives deciding how to allocate their scarce time among prospects and customers is known as
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targeting
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responsibility increases the sales representative's incentive to cultivate local business and personal ties.
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territorial
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The ________________ department should be trained to make inquiries of guests representing companies to find out if more business exists from those companies.
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reservations
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A basic model of motivating sales representatives is
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motivation, effort, performance, rewards, satisfaction
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Making direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships is known as
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DIrect Marketing
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A central repository of an organization's customer information is known as
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Data Warehouse
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The most basic type of website is the
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idk
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Which of the following is a reason that direct marketing has grown?
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precision targeting
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The most powerful approach to integrated direct marketing is
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Ethical Appeal
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In periods of low demand, companies can use direct marketing to target _________ customers and produce quick results.
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known
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Do-not-call legislation has ________ the telemarketing industry.
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hurt
