Analytical Techniques,when Applied to Large Sets of Data,can

question 52

Multiple Choice

Analytical techniques,when applied to large sets of data,can

• A)describe consumer behavior.
• B)predict future consumption actions.
• C)prescribe courses of action for a firm and its management.
• D)All of these are correct.
• E)None of these are correct.

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Definitions:

Highly Differentiated

Refers to products, services, or markets where there is significant variation in features, quality, or branding, making each distinct from others.

Marginal Revenue

The extra income a company gains by selling an additional unit of a product or service.

Average Revenue

The revenue a company receives per unit of sales, calculated by dividing total revenue by the number of units sold.

Differentiate Product

The strategy businesses use to make their products or services stand out from competitors, often through unique features or branding.