Bus 402 quiz 3_chapters9_10_11_13.docx - Bus 402 Quiz chapter 9 10 11 and 13 Question 1 2 out of 2 points One"natural advantage small businesses have

Bus 402 quiz 3_chapters9_10_11_13.docx - Bus 402 Quiz...

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Bus 402 Quiz chapter 9, 10, 11, and 13 Question 1 2 out of 2 points One "natural" advantage small businesses have over large businesses, which can be a significant competitive advantage, is: Selected Answer: relationship marketing. Correct Answer: relationship marketing. Response Feedback: Good work Question 2 2 out of 2 points ________ is the vehicle for gathering the information that serves as the foundation for the marketing plan. Selected Answer: Market research Correct Answer: Market research Response Feedback: Good work Question 3 2 out of 2 points Companies do a number of things to focus on their customers, including: Selected Answer: fixing customer complaints quickly. Correct Answer: fixing customer complaints quickly. Response Feedback: Good work Question 4 2 out of 2 points ________ is a process in which computer software that uses statistical analysis, database technology, and artificial intelligence finds hidden patterns, trends, and connections in data so that business owners can
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make better marketing decisions and predictions about their customers' behavior. Selected Answer: Data mining Correct Answer: Data mining Response Feedback: Good work Question 5 2 out of 2 points The key to marketing success is: Selected Answer: understanding customers' unique needs, wants and preferences.
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