When Managers Use Small Convenience Samples Such as Asking Customers

question 8

Multiple Choice

When managers use small convenience samples such as asking customers what they think or inviting a small group out to lunch to get reactions,they are using ________.

• A)informal surveys
• B)experiments
• C)observation
• D)direct marketing
• E)marketing intelligence

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Definitions:

Variable Costs

Expenses that vary directly with the level of production or output, such as materials and labor costs.

Fixed Cost

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.

Net Operating Income

A measure of a company's profitability, calculated by subtracting operating expenses from operating revenues, excluding taxes and interest.

EBIT

A financial performance metric that calculates a company's profits before accounting for interest and income tax costs, including all other expenses.