Answer:
Customer relationship management system (CRM)
Explanation:
A <em>CRM </em>system is what keeps the customer coming back. Instead of targeting each customer with a default bundle of products that are trending, the customer relationship management system tracks down the customer's habits and preferences, creating a tailor-made approach. Every customer is different in things he/she wants to buy. This way, marketing gets more customized and customer statistics generates better reports (more insight for the long-term).
Answer:
A target customer profile is simply a specific group of customers most likely to respond positively to your promotions, products, and services. 4 points regarding the nature of target customers:
- What kind of people we’re looking?
- Where to find them?
- What our customers want from our brand, to adapt our value proposition so that our brand is relevant to a specific need or problem?
- How they compare and choose products to adjust marketing campaigns to make our offering seem the most compelling?
Digital marketing has led to the growing importance of ‘Persuasive function of Promotion' because customers can learn about promotions from home and even compare the campaigns.
Explanation:
Persuading function of Promotion is to motivate customers to buy products under promotion due to intense competition among different industries producing similar types of products.
Answer:
C. shared resources.
Explanation:
A partnership is a form of business ownership. Partners contribute funds and their expertise towards the success of their business. They are able to put together a large sum of capital than they would raise as individuals. A partnership is formed and managed through the combined efforts of the partners.
A sole proprietor is a one-person venture. The owner sources for the capital and makes all business decisions by themselves. Unlike in sole proprietorship, a partnership has the advantage of shared resources and responsibilities. Partners can brainstorm and share ideas on how to improve the performance of their business.
By employing such an organizational structure, Century Motors most likely set up a <u>Matrix Organization. </u>
A Matrix organization:
- Incorporates people from multiple departments and functions
- Will see people answering to multiple managers of those various departments
- Usually disband after a project is done
The actions of Century Motors are in line with a Matrix Organization in that people from multiple functions were incorporated into the team and the team will disband when the project is done.
We can therefore conclude that this is a matrix organization.
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Answer:
e. None of these alternative is correct.
Explanation:
Sales promotion is a pull marketing technique of promoting product by persuading customer to buy the product. It is beneficial technique at maturity stage of product life cycle. Short term stimulas been offered to customer, so that sales can increase, it is also helpful in tackling competition in the market and keep existing customer with the brand. A product can be promoted for limited time with inumerable tactics.
