Which of the Following Has the Ability to Crunch Large

question 68

Multiple Choice

Which of the following has the ability to crunch large amounts of structured and unstructured data,taking the guesswork out of various marketing tasks in order to identify messages that are more likely to be well received?

• A)competitive intelligence
• B)demand analysis
• C)machine learning
• D)predictive modeling
• E)ethnographic research

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Definitions:

Elastic

Refers to the responsiveness of the quantity demanded or supplied of a good to a change in its price.

Inelastic

Describes a situation where a change in the price of a good or service has a relatively small effect on the quantity demanded or supplied.

Network Externalities

The effect that the number or size of users of a product or service has on the value of that product or service to other users.

Market Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good that all consumers in the market are willing to purchase at each price point.