Your Marketing Department Is Attempting to Improve Strategic Decision Making

question 50

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 only
• C) company reports only
• D) marketing intelligence
• E) the Internet

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Definitions:

Poisson Distribution

A distribution of probability that denotes the likelihood of a specific number of occurrences happening within a set period of time or space.

Discrete Distribution

A statistical distribution that shows the probabilities of outcomes with finite values or countable outcomes.

Interval of Time

A specific duration or length of time between two points or events.

Probability

A mathematical concept that quantifies the likelihood of an event happening, ranging from 0 (impossible) to 1 (certain).