Which Tool Would You Use If You Were Tasked with Reviewing

question 37

Multiple Choice

Which tool would you use if you were tasked with reviewing company data in order to look for trends in sales, identify problems with elements of the marketing mix, and provide quick feedback to managers concerning proposed marketing plans?

• A)a decision support system
• B)a behavioral targeting system
• C)a demand analysis
• D)ethnographic research
• E)competitive intelligence

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Definitions:

Leisure

Time spent away from work and essential activities, during which an individual can engage in activities of personal interest or enjoyment.

Wage Rate

The payment received by a worker or employee per unit of time or per unit of output, typically expressed as an hourly rate or piece rate.

Perfect Market System

A market structure characterized by an ideal scenario where there are many buyers and sellers, all having perfect information and no transaction costs, leading to efficient pricing.

Utility Function

A mathematical representation that describes the level of satisfaction or happiness that a consumer derives from consuming a set of goods and services.