Examlex
Direct marketers use three criteria to identify the characteristics of prospects and customers in an effective database. They are:
Least-Cost Combination
An economic principle where firms aim to achieve the lowest possible cost of production by efficiently combining resources.
Marginal Product
The additional output that is produced by adding one more unit of a specific input, while holding other inputs constant.
Total Dollars
The aggregate or total amount of money without adjusting for factors such as inflation or purchasing power.
Optimal Factor Mix
The most efficient combination of resources and inputs a firm uses to produce goods or services at the lowest cost.
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