When Companies Constantly Take the Pulse of Changing Customer Needs

question 22

Multiple Choice

When companies constantly take the pulse of changing customer needs and wants, then quickly adapt to meet them, they are able to ________.

• A)create marketing after products are developed and produced
• B)create a buyer's market
• C)convince customers to buy existing products
• D)satisfy customer preferences before they are expressed or even known by customers

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Definitions:

Two-way ANOVA

A statistical test used to determine the effect of two nominal predictor variables on a continuous outcome variable, allowing for interactions between the factors to be analyzed.

Interaction Effect

The impact that the combination of variables has on a dependent variable, which is different from the effect of any single variable.

Two-way ANOVA

A statistical procedure for investigating the effect of two categorical predictors on a continuous outcome.

Profile Plots

A graphical tool for exploring the interaction effects in a multivariate analysis, particularly applicable in the visualization of interactions between factors in factorial experiments.