Uniform Uses of Common Terms and Common Methods for Sharing

question 53

Multiple Choice

Uniform uses of common terms and common methods for sharing data are called

• A) data model.
• B) data standards.
• C) information systems.
• D) data quality.

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Definitions:

Environmental Scanning

The process of systematically gathering, analyzing, and interpreting data about trends, events, and relationships in an organization's external environment to identify opportunities and threats.

Market Segments

Subsets of a market made up of people or organizations with one or more characteristics that cause them to demand similar product and/or services based on qualities of those products such as price or function.

Marketing Mix

The combination of factors that can be controlled by a company to influence consumers to purchase its products, including product, price, place, and promotion.

Market Fads

Short-lived trends or crazes in the marketplace that can suddenly explode in popularity but fade away just as quickly.