_____ Are Rules of Thumb That Simplify the Decision-Making Process

question 27

Multiple Choice

_____ are rules of thumb that simplify the decision-making process.

• A)Dialectical inquires
• B)Cognitive biases
• C)Heuristics
• D)Intuitions
• E)Reasoned judgments

---

Definitions:

Marketing Mix

A foundational marketing model comprising four key components: product, price, place, and promotion, used in developing a marketing strategy.

Situation Analysis

A systematic collection and evaluation of past and present economical, political, social, and technological data, aimed at identification of internal and external forces that may influence the organization's performance.

Strategic Marketing Process

An organized technique for planning, executing, and evaluating marketing plans aimed at meeting business targets.

Planning Stage

The initial phase in a project or business strategy where goals are set, resources are allocated, and plans are developed to achieve objectives.