Which of the Following Terms Refers to the Process of Collecting

question 29

Multiple Choice

Which of the following terms refers to the process of collecting and using information for marketing decision making?

• A) Market engineering
• B) Marketing research
• C) Market capitalization
• D) Marketing sampling

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Definitions:

Price Elasticities

Measures of how the quantity demanded or supplied of a good responds to a change in its price.

Marginal Revenue

The additional income gained from selling one more unit of a product or service.

Third-Degree Price Discrimination

A pricing strategy where a seller charges different prices to different consumer groups for the same product or service, based on varying demand elasticities.

Third-Degree Price Discrimination

A pricing strategy where a seller charges different prices to different consumer groups based on their elasticity of demand.