Which of the Following Is the Continual Collection of Information

question 124

Multiple Choice

Which of the following is the continual collection of information from various sources to assist businesses in product development and providing customer satisfaction?

• A) environmental scanning
• B) distribution strategy
• C) global marketing mix
• D) business market segmentation

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Definitions:

Exchange

The act of giving one thing and receiving another in return, particularly in terms of goods, services, or other valuables in a market setting.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, labor, etc.).

International Trade

The exchange of goods and services between countries, allowing nations to expand their markets and access goods that are not produced domestically.

Absolute Advantage

Refers to the ability of a country, individual, or firm to produce more of a good or service with the same amount of resources than competitors.