Properly Use, Data Mining Allows the Firm to _________________

question 97

Multiple Choice

Properly use, data mining allows the firm to _________________.

• A) Move to the marketing planning phase
• B) Choose elements of the marketing mix
• C) Use marketing communications to customize approaches to different segments
• D) A and C
• E) All of the above

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Definitions:

Numeraire

A standard unit of account in economics used to compare the value of goods and services.

Perfect Substitutes

Goods that a consumer is completely indifferent between, meaning they will substitute one for another at a constant rate regardless of any change in price or utility.

Perfect Complements

Goods that are always used together in fixed proportions, where the utility or value of one item increases with use of the other.

Pareto Efficient

An allocation condition in resources where any attempt to favor one individual results in a disadvantage to another.