Market __________ Analysis Analyzes Such Items as Web Sites and Checkout

question 21

Short Answer

Market __________ analysis analyzes such items as Web sites and checkout scanner information to detect customers' buying behaviour and predicts future behaviour by identifying affinities among customers' choices of products and services.

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Definitions:

Monopolist

A market participant that is the sole seller of a good or service, thereby controlling the market.

Nondiscriminating Monopolist

A monopolist who charges the same price to all consumers regardless of their individual demand or willingness to pay.

Marginal Revenue

The supplementary income earned from the sale of one extra unit of a good or service.

50th Unit

A reference to the specific item in a series or set, often used in discussions about production and consumption at various levels.