The Last Step of the Decision-Making Process Is to

question 13

Multiple Choice

The last step of the decision-making process is to

• A) develop a model
• B) evaluate each alternative
• C) pick the best alternative
• D) implement the decision
• E) check the decision with senior management

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Definitions:

Frequency

The rate at which an event occurs or is repeated over a specific period of time, often used in statistics, communications, and media studies.

Competitive Parity

A firm’s strategy of setting prices that are similar to those of major competitors. Status Quo Pricing: A competitor-oriented strategy in which a firm changes prices only to meet those of competition.

IMC Budgeting

Involves allocating financial resources across various marketing communication channels as part of an Integrated Marketing Communications strategy.

Communication Budget

The financial allocation for all communication and promotional activities within a company, including advertising, public relations, and direct marketing.