If a Marketing Manager Queries a Marketing Information System to Determine

question 111

Multiple Choice

If a marketing manager queries a marketing information system to determine the effect of three different levels of price for a new product, he is using

• A)action analysis.
• B)an environmental scan.
• C)a problem search.
• D)situational analysis.
• E)sensitivity analysis.

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Definitions:

Bootstrap Tool

A statistical method used for estimating the distribution of a statistic by resampling with replacement from the original data.

Lowest Average Profit

The minimum average profit realized over a specified period.

Purchase Quantity

The number of units of a product that consumers buy over a specified period.

Tornado Chart

A graphical method used to display the sensitivity of a result to changes in its input variables, usually in the form of a horizontal bar chart.