One Advantage of a Market-Product Grid Is That It Can

question 118

Multiple Choice

One advantage of a market-product grid is that it can be used to:

• A)relate likely sales of products to prospective market segments.
• B)make optimal decisions under conditions of uncertainty.
• C)select representative samples of consumers for marketing research studies.
• D)screen many new product ideas in order to select the one with the best long-run market potential.

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Definitions:

Null Hypothesis

A default hypothesis that indicates no effect or no difference, and against which the alternative hypothesis is tested.

Proportions

The ratio of part to whole, expressed as a fraction or percentage, describing the relative size of parts within a population or a whole.

Nominal Variables

Categorical variables that represent different categories or types which do not have a natural order or ranking among them.

Relationship

The method of connection between two or more concepts, objects, or individuals, or the existence of such a connection.