________ Are Measures That Predict Consumers' Future Purchases on the Basis

question 89

Multiple Choice

________ are measures that predict consumers' future purchases on the basis of past buying information and other data.

• A) Showroom analytics
• B) Predictive analytics
• C) Geofencing analytics
• D) Social analytics
• E) Consumer spying analytics

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Definitions:

Reference Pricing

A type of psychological pricing in which a lower-priced item is compared to a more expensive brand in hopes that the consumer will use the higher price as a comparison price.

Price Skimming

A pricing strategy involving setting an initially high price before gradually lowering it over time as the product's novelty wears off.