Your Marketing Department Is Attempting to Improve Strategic Decision Making

question 54

Multiple Choice

Your marketing department is attempting to improve strategic decision making, track competitors' actions, and provide early warning of opportunities and threats. To achieve this goal, which of the following would be the best for your department to use?

• A)internal databases
• B)external databases
• C)marketing intelligence
• D)the Internet
• E)company reports only

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Definitions:

Predicting Variables

Variables in statistical models that are used to predict outcomes or responses of interest.

Regression Analysis

A statistical method used to model the relationship between a dependent variable and one or more independent variables.

Dependent Variables

Variables in an experiment that are expected to change as a result of an experimental manipulation of the independent variable(s).

Independent Variables

Factors that are manipulated or selected by the researcher to determine their effect on an outcome.