Isaac,a Marketing Manager,performs Internet Searches and Customer Surveys to Develop

question 26

Multiple Choice

Isaac,a marketing manager,performs Internet searches and customer surveys to develop and analyze new information about a market his company is planning to enter.Identify the procedure that Isaac is following to get the desired information.

• A) Marketing research
• B) Marketing information system
• C) Frequency monitoring program
• D) Marketing plan
• E) Management information system

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Definitions:

Production Possibilities

A graphical representation that shows the maximum number of goods or services that can be produced with a given set of resources and technology.

Law Of Comparative Advantage

An economic principle that states countries should specialize in producing goods for which they have a lower opportunity cost of production relative to other countries, leading to increased economic efficiency and trade benefits.

Gain From Trade

The benefits that entities receive from exchanging goods, services, or resources with others, often leading to an increase in overall welfare.

Law Of Comparative Advantage

A principle in international trade that states countries should specialize in producing goods for which they have a lower opportunity cost than their trading partners.