To Qualify as an ERP System,it Must Be Flexible,modular and Open,and

question 16

True/False

To qualify as an ERP system,it must be flexible,modular and open,and comprehensive,and it must extend beyond the company.

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Definitions:

Market Penetration

The extent to which a product or service is recognized and used by customers in a particular market.

Diversification

A strategy in finance and business development that involves entering into a variety of markets or developing a range of products to minimize risks.

Product Development

The process of creating, designing, and bringing a new product to market.

Market Development

Market development is a strategic effort to expand into new markets or segments, aiming to increase the customer base for a product or service.