Most Marketing Plan Budgets Are Created and Maintained by the Use

question 64

Multiple Choice

Most marketing plan budgets are created and maintained by the use of ______________ that provide formulaic capabilities to perform scenario analysis on a variety of contingencies and see the impact on the budget.

• A)Custom software
• B)CRM software
• C)Excel spreadsheets
• D)All of these
• E)None of these

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Definitions:

Group Attribution Error

The tendency to erroneously attribute the behavior or attitudes of individual members to the characteristics of the group as a whole.

Extremity Bias

A cognitive bias where individuals tend to remember and give disproportionate weight to the most extreme examples or experiences.

Law of Small Numbers

A cognitive bias that leads people to draw broad conclusions from small data sets or limited information.

Outgroup Heterogeneity Bias

The tendency to view members of an out-group as more diverse and individual than members of one's own in-group.