A Company Which Wants to Objectively Estimate the Reaction of Customers

question 74

Multiple Choice

A company which wants to objectively estimate the reaction of customers to possible changes in its marketing mix should use:

• A) trend extension.
• B) jury of executive opinion.
• C) sales force estimates.
• D) surveys, panels, and market tests.
• E) None of these is a good answer.

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Definitions:

Microdimension

Involves the analysis of small-scale or detailed aspects within a field of study, often looking at individual or minor elements and their effects.

Marxist Theory

A sociopolitical and economic theory developed by Karl Marx that critiques capitalism and advocates for a society where workers own the means of production.

Erik Olin Wright

was a sociologist known for his work on class structures, social stratification, and egalitarian alternative futures within capitalist societies.

Empirical Application

The use of empirical methods, including observation and experimentation, to apply theories or hypotheses in real-world settings.