Quality Data Can Be Defined as Being

question 4

Multiple Choice

Quality data can be defined as being:

• A) unique.
• B) inaccurate.
• C) historical.
• D) precise.

Assess the strengths and weaknesses associated with sales promotions and direct marketing.

Understand how promotions can be customized to match the specific needs of target markets.

Recognize the role of indirect promotional elements such as publicity in enhancing product or service awareness.

Appreciate the diverse approaches in selecting and balancing the elements of the promotional mix based on the product's life cycle, buyer’s stage, and market conditions.

---

Definitions:

Single-Price Monopoly

A market situation where a monopoly exists and sells its product or service at a single price to all consumers without price discrimination.

Deadweight Loss

An economic inefficiency that emerges when an optimal market condition for a product or service isn't reached or is unreachable.

Pay-per-view

A type of television or online streaming service where viewers pay a fee to watch a specific event or program, typically special sports events or movies.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service versus what they actually pay, measuring consumer benefit.