The Ability of a Marketer to Identify Customers Before They

question 156

Multiple Choice

The ability of a marketer to identify customers before they make a purchase is called

• A) connectivity.
• B) addressability.
• C) interactivity.
• D) accessibility.
• E) control.

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Definitions:

Price Elasticity

A metric determining how the quantity of a good demanded fluctuates with a shift in that good's price.

Quantity Demanded

The total amount of goods or services that consumers are willing to buy at a given price over a certain period.

Inelastic

Describes a situation where the demand or supply for a good or service is relatively unaffected by changes in price.

Midpoint Method

A technique used to calculate the elasticity of demand or supply, offering a more accurate measure by averaging the beginning and end prices and quantities.