Almost Every Industry Includes Firms That Specialize in Serving Target

question 42

Multiple Choice

Almost every industry includes firms that specialize in serving target subsegments called market ________.

• A) niches
• B) mavens
• C) baskets
• D) indicators
• E) mixes

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Definitions:

Decision Variable

A variable in optimization or decision-making models whose value is subject to choice within a set of permissible values.

Monte Carlo Simulation

A computational algorithm that relies on repeated random sampling to obtain numerical results, often used in physical and mathematical problems.

Sales Forecasts

Predictive analysis to estimate the amount of product or service a business will sell during a particular period.

Poisson Distribution

A probability distribution that expresses the probability of a given number of events occurring in a fixed interval of time or space.