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Clark, a College Student, Was Hired by a Consumer Research

question 92

Multiple Choice

Clark, a college student, was hired by a consumer research firm to help a pizza joint learn more about a consumer segment comprising college students. His job entailed observing what factors influenced students to decide when to order pizza and where to order it from. Clark learned from his observations that most students liked Italian dips with their pizza. This led the pizza joint to advertise and offer free Italian dips with all its orders. Which of the following research techniques did the pizza joint use in the given scenario?

Understand how to use Solver to find solutions to problems involving multiple input values.

Identify and apply different types of Solver constraints.

Utilize Goal Seek for conducting what-if analysis.

Generate various reports (Answer, Sensitivity, Scenario Summary) to summarize solutions and analyses.

Definitions:

Behavioral Economics

The study of how psychological, social, cognitive, and emotional factors affect economic decisions and the implications for market prices, returns, and resource allocation.

Retail Stores

Physical or online outlets that sell goods directly to consumers for personal or household consumption.

Behavioral Economist

An economist who studies the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions.

Individual Decision Making

The process by which an individual selects among alternative choices based on preferences, resources, and information.