Opportunity Cost of a Choice Is

question 61

Multiple Choice

opportunity cost of a choice is:

• A)the value of the opportunities lost.
• B)the net value of the opportunities gained.
• C)the difference between the benefits and costs of the choice.
• D)sometimes positive or negative.

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Definitions:

Neuromarketers

Marketing professionals who utilize neuroscience and psychological principles to better understand consumer behavior, preferences, and engagement strategies.

Observation Research

A data-collection tool that involves watching how people behave and recording anything about that behavior that might be relevant to the research objective.

Sales Tracking

A type of research that follows changes in sales during and after promotional programs to see how the marketing efforts affected the company’s sales.

Place

As one of the “four Ps,” includes the activities the firm undertakes to make its product available to potential customers. Also known as distribution.