The Characteristics of an Effective Control System Include the Following

question 20

Multiple Choice

The characteristics of an effective control system include the following EXCEPT FOR:

• A)economy.
• B)timeliness.
• C)inflexibility.
• D)understandability.
• E)reasonable criteria.

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Definitions:

Delivering Value

The process of providing products or services that are of high value to the consumer, often exceeding their expectations relative to the cost.

Marketing Mix

Encompasses the four key elements of marketing strategy: product, price, place, and promotion used to meet marketing objectives.

Production-oriented Era

A historical period in marketing where the focus was on production capabilities and efficiencies rather than on a deep understanding of consumer needs or desires.

Sales-oriented Era

A business approach focusing on the promotion and selling of products, often irrespective of consumer demand, prevalent in the mid-20th century.