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An Objective, Logical, Systematic Approach for Making Major Decisions in an Organization

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An objective, logical, systematic approach for making major decisions in an organization is a way to describe the strategic-management process.


Definitions:

Customer Group

A segmentation of customers based on shared characteristics, behaviors, or needs, often targeted with specific marketing strategies.

R&D

Research and Development, which involves investigative activities that a business chooses to conduct with the intention of making a discovery that can lead to the development of new products or procedures.

Product Mix

The complete range of products that a company offers for sale, including variations in product lines, sizes, flavors, and other characteristics.

Product Lines

A group of related products offered by a single company that serve a similar customer segment or have been developed from the same technology.

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