Marketers Use Quantifiable Characteristics Known as ________ and Psychological Characteristics

question 18

Multiple Choice

Marketers use quantifiable characteristics known as ________ and psychological characteristics known as ________ to help them understand the needs of an audience.

• A)social graphics,intuitional data
• B)demographics,psychographics
• C)crowdsourcing,regionalism
• D)psychometrics,cryptography

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Definitions:

Profit-Maximizing

A strategy or goal of businesses to achieve the highest possible profit, where the marginal cost of production equals the marginal revenue from sales.

Total Revenue

The total amount of money generated by a business from selling goods or services before any expenses are subtracted.

Loss-Minimizing

A strategy or approach aimed at reducing losses as much as possible, often used in business and economic contexts.

Marginal Cost

The cost incurred by producing one additional unit of a good or service.