Examlex
Which of the following is used by firms to collect data about customer responses to the marketing mix?
Information
Data that is processed, organized, and structured in a given context to make it meaningful.
Perfect Rationality
A theoretical concept where decision-making entities are assumed to have unlimited cognitive abilities to make the most optimal decision, fully informed by all available information.
Nobel Prize
Prestigious international awards given annually in several categories, including Physics, Chemistry, Medicine, Literature, Peace, and Economics, to individuals or organizations who have made significant contributions in these fields.
Herbert Simon
Herbert Simon was an American economist and cognitive psychologist known for his research on decision-making processes and artificial intelligence, receiving the Nobel Prize in Economic Sciences.
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