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B120: An Introduction to Business Studies

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... carefully defined marketing problems or opportunities. It helps in identifying consumer needs and market segments, furnishes information necessary for developing new products and formulating marketing strategies, enables managers to measure the effectiveness of marketing programmes and promotional a ...
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Bayesian inference in marketing



Bayesian inference in marketing is the application of Bayes’ theorem to marketing. Here, Bayesian inference allows for decision making and market research evaluation under uncertainty and with limited data.
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