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Question
Community Trust Bank is analyzing its customer data to determine if groups other than the business customers can be identified. The bank is looking at the frequency of branch visits, use of ATMs, online banking activity, loan activity, and account balances for each customer. The bank has identified three groups of customers based on these factors and is considering offering different products to better meet the needs of each group. Which of the following marketing concepts is represented by this exercise?a. Total value concept
b. Market segmentation
c. Value reengineering
d. Marketing audit
e. Environmental scanning
Answer
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