The Process of Systematically Gathering, Recording, and Analyzing Data Concerning

question 164

Multiple Choice

The process of systematically gathering, recording, and analyzing data concerning a particular marketing problem is called

• A) marketing research.
• B) target marketing.
• C) marketing segmentation.
• D) market sampling.
• E) decision research.

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Definitions:

Simple Thinking

The process of reasoning or problem-solving in a straightforward, uncomplicated manner, often involving direct observation and practicality.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a person's mind when evaluating a specific topic, concept, method, or decision.

Representativeness Heuristic

Judging the likelihood of things in terms of how well they seem to represent, or match, particular prototypes; may lead us to ignore other relevant information.

Algorithm

A fixed, step-by-step procedure or set of rules for solving a problem or accomplishing a task.