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BRM CH. 8 Questions & answers with Complete Solutions 100%correct
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BRM CH. 8 Questions & answers with Complete Solutions 100%correct
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BRMCH.
8
Database
marketing
-
ANS-the
practice
of
using
CRM
databases
to
develop
one-to-one
relationships
and
precisely
targeted
promotional
efforts
with
individual
customers.
Examples
include
enhancing
customer
databases
and
developing
prospect
lists
External
data
-
ANS-generated
or
recorded
by
an
entity
other
than
the
researcher's
organization.
Traditionally,
this
information
has
been
in
published
form,
but
today
computerized
data
archives
and
electronic
data
interchange
make
external
data
as
accessible
as
internal
data.
Because
secondary
data
have
value,
they
can
be
bought
and
sold
like
other
products,
and
channels
of
distribution
include
(1)
libraries,
(2)
the
Internet,
(3)
vendors,
and
(4)
producers.
Classifying
external
secondary
data
by
the
nature
of
the
producer
of
information
yields
five
basic
sources:
periodicals,
government
sources,
media
sources,
trade
associations,
and
commercial
sources.
Fact-finding
-
ANS-this
is
the
simplest
form
for
secondary-data
research.
It
includes
identification
of
consumer
behavior
for
a
product
category,
trend
analysis,
and
environmental
scanning.
Internal
and
proprietary
data
-
ANS-data
that
originated
in
the
organization,
or
data
created,
recorded,
or
generated
by
the
organization.
Most
organizations
routinely
gather,
record,
and
store
internal
data
to
help
them
solve
future
problems.
Routine
documents
such
as
sales
invoices
allow
external
financial
reporting,
which
in
turn
can
be
a
source
of
data
for
further
analysis.
Sales
information,
customer
complaints,
service
records,
and
warranty
card
returns
are
other
examples
of
this
type
of
secondary
data
Model
building
-
ANS-involves
specifying
relationships
between
two
or
more
variables,
perhaps
extending
to
the
development
of
descriptive
or
predictive
equations.
Examples
include
estimating
market
potential,
forecasting
sales,
data
mining,
and
selecting
trade
areas
and
sites.
Three
broad
objectives
achieved
using
secondary
data:
-
ANS-1.
Fact
finding
2.
Model
building
3.
Database
marketing
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