Allows a Marketing Manager to Use Sales Data to Find

question 108

Multiple Choice

allows a marketing manager to use sales data to find out how many consumers stay with his brand and how many switch,and thus project market shares over time.

• A)On- line research
• B)Internal company data
• C)Modeling software
• D)Acquired databases
• E)Marketing research

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Definitions:

Optimal Output

The level of production at which a firm maximizes its profits, determined by equating marginal cost and marginal revenue.

Market Price

The current market valuation at which services or products are exchanged.

Minimum Price

A set floor on the price at which a good or service can be sold, often used to ensure fair compensation for producers or to avoid market collapse.

Short Run

A period in economics during which at least one input, such as plant size or capital equipment, is fixed and cannot be changed.