What Are the Basic Steps in the K-Means Algorithm

question 19

Essay

What are the basic steps in the K-means algorithm?

Analyze the impact of product life cycles on marketing and business strategies.

Differentiate between product classes, forms, and lines.

Understand the diffusion of innovation model and its significance in product adoption.

Identify the specific characteristics and life cycle patterns of fad and fashion products.

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Definitions:

Representatives

Individuals or entities appointed or elected to act or speak on behalf of others.

Union-Free

A workplace or environment where no labor unions are present or involved in worker representation.

Competitive Wages

Wages that are equal to or higher than those offered by competitors within the same industry, aimed at attracting and retaining top talent.