For class this week, we needed to read chapters 4 and 5 of Mike Grisby's Marketing Analytics textbook. These chapters speak of what is the drive for demand. It also talked about a couple of different analytical statistics that helped answer the question. The chapters also talked a lot about who your main market is. It speaks on who is buying from you and how you as a company need to know who to market to. Between creating a matrix and picking variables, there can be a lot of information that is confusing.

Questions

What makes LCA the gold standard?
Modeling elasticity, I don't really understand much around it.
What does it mean when you are closer to 0% vs 100%?

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