After identifying its key customers in terms of profitability, a firm can look to see what similar characteristics those current customers have. Then, it can try to find prospective new customers who exhibit characteristics similar to its current customers. What type of research analysis is most likely to prove fruitful in identifying these new prospects?

Question

Quizplus · Accepted Answer

NAICS codes (North American Industry Classification System) classify businesses into specific industries based on their primary activities. By identifying the NAICS codes of current profitable customers, a firm can then search for potential customers in the same industries or with similar primary activities. This type of analysis may prove fruitful in finding new prospects with similar characteristics to current profitable customers. ISO 9000, Resident Buyer Codes, Intermediary Codes, and JIT codes are not directly related to identifying new prospects based on customer characteristics.

After Identifying Its Key Customers in Terms of Profitability, a Firm