Place Is Concerned with the Selection and Use of Marketing

question 260

True/False

Place is concerned with the selection and use of marketing specialists-intermediaries and collaborators-and making goods and services available in the right quantities and locations when customers want them.

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Definitions:

Root Mean Square of Errors

A measure of the differences between values predicted by a model or an estimator and the values observed, expressing the square root of the mean of the squares of these differences.

Actual Value

The true, factual, or real value of a measurement, differing from an estimated or theoretical value.

Forecast Value

The estimated or predicted value of a variable or set of variables at some point in the future.

Mean Square Error

A measure of the average of the squares of the errors—that is, the average squared difference between the estimated values and the actual value.