Goal of Market and Submarket Analysis Is to Understand the Dynamics

question 8

True/False

goal of market and submarket analysis is to understand the dynamics of the market.

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Definitions:

Representativeness Heuristic

A mental shortcut that involves making a probability judgment by comparing an object or event to a prototype of the object or event.

Prototype

An early sample, model, or release of a product that is used to test a concept or process or to act as a thing to be replicated or learned from.

Category Membership

The belonging of an item or individual to a defined group based on shared characteristics or criteria.

Representativeness Heuristic

A mental shortcut used for making decisions about the likelihood of an uncertain event by comparing it to what is considered a normal instance.