Market Research Becomes Unnecessary When Managers Are

question 32

Multiple Choice

Market research becomes unnecessary when managers are:

• A)aware of the causes of a problem at hand.
• B)uncertain about consequences of decision alternatives.
• C)certain about the consequences of decision alternatives.
• D)certain about the symptoms of a problem at hand.
• E)uncertain about the symptoms of a problem at hand.

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Definitions:

Minimizes Inventory

Strategies or practices aimed at keeping the amount of goods stored by a business as low as possible to reduce costs and increase efficiency.

Supply Chain Management

The administration of the movement of products and services encompassing every process that turns raw materials into finished goods.

Purchasing

The process of obtaining goods or services, typically for business purposes, by paying a price or agreeing to a contract.

Transportation

The action of moving people or goods from one location to another using various modes such as by road, rail, air, or sea.