Which Tasks Are Considered to Be Marketing Applications of Simulation

question 60

Multiple Choice

Which tasks are considered to be marketing applications of simulation modeling?

• A) determining the effect of entry of new brands into the market
• B) discovering customer preferences for different attributes of products
• C) investigating brand-switching behavior of customers
• D) investigating the effect of advertising on sales
• E) all of these choices

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Definitions:

Storage

In the context of psychology, it refers to the retention of information in the brain over time; a key component of the memory process.

Trace Consolidation

The process by which memories become more stable in the brain, transforming from a vulnerable state to a more permanent one.

Encoding Specificity

The principle that the recall of information is improved if the cues present at the time of encoding are also present at the time of retrieval.

Context and Memory

The way in which the situation or environment in which information is learned can affect recall of that information.