Marketing Simulation Involves

question 34

Multiple Choice

Marketing simulation involves

• A) recognizing and recording relevant objects, events, and important and commonplace activities
• B) intense investigation of prior situations that are analogous or appear relevant to the current one
• C) creating an analogous version of a real-world phenomenon through a likeness or formal model
• D) directly manipulating key variables and observing the effect on dependent variables

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Definitions:

Psychographic

Pertaining to the study and classification of people according to their attitudes, aspirations, and other psychological criteria, especially in market research.

Demographic

Statistical data relating to the population and particular groups within it, often used for marketing analysis.

Behavioral

Pertaining to actions or reactions of individuals or groups in response to external or internal stimuli, often studied in psychology and consumer research.

Geographic Segmentation

The process of dividing a market into different geographical units such as nations, states, regions, or cities.