A Marketer of Yo-Yos Wants to Know How an Increase

question 56

Multiple Choice

A marketer of yo-yos wants to know how an increase in price will affect its sales.It uses a test store where it increases the price of the yo-yos by 15 percent and then studies its impact on sales.Comparing its sales in the test store with those in other stores provides information about the likely impact of a price change in the overall market.Identify the type of market research method most likely used in this scenario.

• A)Experimental research
• B)Mathematical modeling
• C)Observational research
• D)Focus group

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Definitions:

Adjustment

The process of making small changes to achieve a desired result or fit.

Hospital Schedules

Systems and plans for the timing of medical services and procedures, staffing, and resource allocation within a hospital to ensure efficient and effective patient care.

Croup

A respiratory condition typically seen in young children characterized by a distinctive barking cough.

Care Plan

A detailed approach designed for an individual’s healthcare management, outlining specific goals and actions to manage a patient's condition.