Question

In: Economics

Controllable Variable means to you and Mass Merchandising? provides examples for both please and thank you

Controllable Variable means to you and Mass Merchandising?

provides examples for both please and thank you

Solutions

Expert Solution

Ans. A. Mass Merchandising

Definition:

Mass Merchandising refers to a retailing system or selling store that seeks to sell large quantities of goods, services. In common this term is used by insurance companies which involve working with a company or organization to offer a range of insurance policy for employees or members. By working directly with a company, the insurer markets reach to a larger number of potential policyholders. It drives down underwriting costs. It means, mass merchandising is somewhat akin to the mass production. In the term of Goods and retailing Mass merchandising is a system of retailing that provides one stop shop for all the groceries and provides multiple items like appliances, furniture, accessories, clothing etc.

Example:

The Telecom companies generally use mass marketing because telecommunications is a need based service and not depends on brand or specific used. I do not need a targeted marketing strategy. Same as Soaps and detergents use mass marketing. The most appropriate example for mass merchandisers are Supermarkets and Molls.

B. Controllable Variable  

Definition:

Controllable Variable is actually that can be controlled during research. There are three main types Variables in research. Variable that vary with the number of interventions called dependent Variable on other hand variables remains constant or not vary with any incidents called Independent variable. Except these two variables there are many other factors that can affect the result of experiments and intervention on the dependent variables and a researcher must need to control them. These Variables called controllable or Extraneous Variable.

Example:

            The Noise or Heat is a common type of controllable variable in an experimental research. If a temperature is held constant during an experiment, Heat and noise can be easily controlled in lab .   


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