An impact/likelihood matrix helps a marketer manage risk and develop a contingency plan.

Question

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An impact/likelihood matrix is a tool used in risk management to assess the level of risk associated with a particular situation. It helps a marketer to identify the potential impact of a risk and the likelihood of it occurring. Based on this information, the marketer can then develop a contingency plan to mitigate the risk and minimize its impact on the business. Therefore, the statement is true.

An Impact/likelihood Matrix Helps a Marketer Manage Risk and Develop