BUISENESS MANAGEMENT
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a process of designing, creating, and managing customer lists
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a set of procedures and methods that regularly generates, stores, analyzes, and distributes information for making marketing and other business decisions.
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marketing designed to obtain information on how people feel about certain products, services, companies, or ideas.
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marketing that focuses on issues of media effectiveness, selection, frequency, and ratings
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Detailed explanation-1: -A process of designing, creating, and managing customer lists that contain information about an individual’s characteristics and transactions with a business; also known as customer relationship management (CRM). A collection of electronic data organized in a manner that allows access, retrieval, and use of that data.
Detailed explanation-2: -Database marketing is a systematic approach to the gathering, consolidation and processing of consumer data. Database marketing is also a form of direct marketing and may be called customer relationship management. Data of both customers and potential customers are collected and are maintained in a company’s database.
Detailed explanation-3: -A customer database is a collection of information that includes lead contact details like a person’s first and last names, phone numbers, email addresses, etc. It can also include the following data: Demographic characteristics: age, gender, marital status, household composition.
Detailed explanation-4: -It involves collecting customer data like names, addresses, emails, phone numbers, transaction histories, customer support tickets, and so on. This information is then analyzed and used to create a personalized experience for each customer, or to attract potential customers.
Detailed explanation-5: -Database marketing falls under the customer relationship management umbrella, as CRM includes all sales, marketing and customer service initiatives in an organization. Database marketing is a data-driven approach toward improving customer experience, while CRM is process-driven.