3.3 Flashcards
1
Q
What are marketing objectives concerned with a firms growth measured by?
A
Market Share and Cash Flow
2
Q
What is making it harder to set realistic marketing objectives?
A
Rapid Technological Development
3
Q
What is a drawback of using secondary market research?
A
The data can be out of date or not directly relevant
4
Q
What is the confidence Interval?
A
Percentage probability that an estimated range of possible values includes the actual value being estimated is known as the confidence interval
5
Q
How do you calculate Net Gain?
A
Expected Value - Initial Cost Of Decision
6
Q
How do you calculate Expected Value?
A
multiply the probability of each given outcome by its expected value and add them together
