A Marketing Orientation Requires the Organisation-Wide Generation of Market Intelligence

question 22

True/False

A marketing orientation requires the organisation-wide generation of market intelligence pertaining to current and future customer needs, dissemination of the intelligence across departments, and organisation-wide responsiveness to it.

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Definitions:

Coefficient Of Determination

A statistical metric, typically denoted as R², that measures the proportion of the variance for a dependent variable that's predicted from the independent variable(s) in a regression model.

SSE

Sum of Squared Errors, a measure used in statistical analysis to quantify the discrepancy between the data and an estimation model.

SST

Total sum of squares in statistical analysis, measuring the total variation in the observed data.

Least Squares Estimate

A method in statistics for estimating the best-fitting line through a set of points by minimizing the sum of the squares of the differences between observed and estimated values.