The Term Marketing Strategy Is Used to Address Both the __________

question 59

Multiple Choice

The term marketing strategy is used to address both the __________ and the __________.

• A)product groupings; target markets
• B)target market; marketing program
• C)subjective; objective
• D)revenues generated; market share achieved
• E)feasibility; time required to implement

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Definitions:

Confirmation Bias

The tendency to search for, interpret, favor, and recall information in a way that confirms one’s preexisting beliefs or hypotheses.

Mental Sets

A tendency to solve problems using methods that have worked in the past rather than considering new approaches.

Functional Fixedness

A cognitive bias that limits a person to using an object only in the way it is traditionally used, hindering problem-solving.

Intuitions

The ability to understand something instinctively, without the need for conscious reasoning.