Tabak catalog retailer studies about 3,500 variables over the lifetime of a customer's relationship.Through ________,it has found that customers who change residences are three times more likely than customers who do not move as frequently to buy tables,fax machines,and decorative products but are no more likely to buy jewelry or footwear.

Question

Quizplus · Accepted Answer

Data mining refers to the process of analyzing large sets of data to discover patterns and relationships, which is exactly what Tabak is doing by studying 3,500 variables about customers. Additionally, the finding about customers who change residences being more likely to purchase certain products is a result of analyzing this data and identifying a pattern. Prospecting refers to seeking out new customers, sampling involves collecting a smaller representative sample of data to make inferences about a larger group, latitudinal research is not a term commonly used in marketing research, and customer acquisition refers to the process of gaining new customers, not analyzing data about existing ones.

Tabak Catalog Retailer Studies About 3,500 Variables Over the Lifetime