Question

1.Empirical data is:

Group of answer choices

quantitative.

secondary.

2.The majority fallacy may best be defined as:

Group of answer choices

believing the largest segment is the most profitable.

defining the majority of consumers who are the most unique.

assuming the majority of consumers will buy your product instead of those of your competitors.

concentrating on the most homogeneous market segment.

3.Extracting information from large amounts of data is referred to as:

Group of answer choices

information processing.

data sorting.

information mining.

data mining.

qualitative.

observational.

4.The ideal market segment is:

Group of answer choices

heterogeneous.

homogeneous.

large.

consistent.

5.The major advantage of a mass market strategy is recognizing people's differences in shopping patterns.

Group of answer choices

True

False

Government data used by a hospital in answering market research questions is secondary data.

Group of answer choices

True

False

Answer 1

1. The correct option is Quantitative

2. The correct option is believing the largest segment is the most profitable.

3. The correct option is Data mining

4. The correct option is homogeneous

5. The given statement is TRUE

6. The given statement is TRUE

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