All of the Following Are Common Model Building Objectives, Except

question 34

Multiple Choice

All of the following are common model building objectives, except:

• A) estimating market potential.
• B) sales forecasting.
• C) site selection.
• D) developing prospect lists.

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Definitions:

Extrinsic Value

The portion of an item's worth that is not inherent to the item itself but is attributed by external factors or circumstances.

Snob Effects

The phenomenon where the demand for a certain good increases as its price increases, because it is perceived as a status symbol.

Price Effect

The impact that changes in price have on the consumer's choice and allocation of their income.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level in a given period.