According to Peter G

question 56

Multiple Choice

According to Peter G. Keen, a former MIT professor, which is a benefit of a decision support system (DSS) ?

• A)Easy assessment of costs and benefits
• B)Ability to cause improvements
• C)Focus on efficiency rather than effectiveness
• D)Fast response to unexpected situations

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Definitions:

Marketing Mix

A foundational marketing model that combines the four Ps: Product, Price, Place, and Promotion, to meet customers' needs and achieve business goals.

Hybrid Strategy

A strategy in business that incorporates aspects of various tactics, like being the cost leader and offering unique products or services, in order to gain an edge over competitors.

Order Costs

Expenses associated with placing and receiving orders, often including shipping, handling, and procurement expenses.

Retailer

A business entity that sells goods to consumers for personal or household use, varying from small shops to large chain stores.