Marketing Researchers Must Use the Combination of Data, Technology, and Analytics

question 252

Multiple Choice

Marketing researchers must use the combination of data, technology, and analytics to convert the data into useful information that will answer marketing questions and lead to effective marketing actions. An organization that accomplishes this successfully is often referred to as

• A) an external data source specialist.
• B) a results-oriented enterprise.
• C) an intelligent enterprise.
• D) an internal data source user.
• E) an information entrepreneur.

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Definitions:

1950s

A decade marked by post-World War II recovery, economic growth, and significant social and cultural changes, including the beginning of the Civil Rights Movement in the United States.

Economics Definition

The study of how societies use scarce resources to produce valuable commodities and distribute them among different people.

Equilibrium

A market phase where demand is matched by supply, which in turn stabilizes prices.

Limited Resources

The scarcity of resources in comparison to the potentially limitless wants and needs, forcing the need for allocation decisions.