What Is Enterprise Resource Planning

question 281

Multiple Choice

What is enterprise resource planning?

• A)The analysis and redesign of workflow within and between enterprises
• B)A standardized set of activities that accomplish as specific task, such as processing a customer's order
• C)Integrates all departments and functions throughout an organization into a single IT system so that employees can make decisions by viewing enterprisewide information on all business operations
• D)Involves managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability

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Definitions:

Predatory Pricing

A strategy where a company sets extremely low prices with the intent to eliminate competition or deter new entrants to the market.

Experience-Curve Pricing

A pricing strategy that assumes costs will decrease over time as experience in production increases, leading to lower prices for consumers.

Marketing Strategies

Plans and tactics implemented by companies to promote and sell their products or services, aiming to achieve competitive advantage and meet customer needs.

EDLP Retailer

A retailer that consistently offers low prices across its products as part of its pricing strategy, avoiding traditional sales or discounts.