PRIZM Is _ _

question 131

Multiple Choice

PRIZM is _ _.

• A)a positioning strategy used in the introduction of new consumer products
• B)a method of removing heterogeneous variables from a target market
• C)a method of data mining used by marketing managers to implement market development strategies
• D)a method of confirming that the chosen target market is representative of the ideal market segment
• E)a database that classifies every U.S.zip code according to demographic and lifestyle characteristics

---

Definitions:

Statistically Significant

An observation or effect sufficiently large or important to be unlikely to have occurred by chance, as per a predefined threshold in hypothesis testing.

Confidence Interval

An aggregation of values, hailing from sample statistics, anticipated to envelop the value of an unseen population parameter.

Sample Mean

The average value of a sample set, calculated by summing all observations and dividing by the number of observations.

Symmetric

A shape or distribution is considered symmetric if it looks the same to the left and right of the center point.