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Match the Term with Its Definition

Question 81

Matching

Match the term with its definition

Premises:

Responses:

An interaction between a business and its customers

Perceptual categorization

An association between a business and a customer that begins (or ends) with a purchase or a business deal

Recency-frequency-monetary analysis

The individual processes that give meaning to the stimuli confronting consumers

Evaluative criteria

An analysis that reveals customers most likely to buy from a firm in the future because they have made purchases recently, frequently, and in amounts that exceed some established minimum

Perception

The psychological tension or anxiety that occurs when a customer has second thoughts immediately following a purchase

Customer segmentation strategy

A principle that maintains that 80 percent of a company's sales will come from 20 percent of its customers

Customer database

The features or charactistics of a product or service that customers use afor comparison

Post-purchase dissonance

A process of identifying customers that fit into smaller, more homogeneous groups

Touch point

A collection of information about a customer, inlcuding demographic data, attitudes, preferences, and other behavioral characteristics, as defined by CRM goals

80/20 Principle

A group of brands that a consumer is both aware of and willing to conisder as a solution to a purchase need

Transactional relationship

Evoked set