In What Ways Can an Industrial Classification System Be Used

question 159

Essay

In what ways can an industrial classification system be used by business marketers to analyze target markets?

Distinguish between merit pay and incentive pay.

Recognize examples of various reward systems used in organizations.

Identify the most effective forms of pay for improving performance as viewed by managers.

Understand the essential components and considerations for effective performance-based systems.

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Definitions:

Brightness Contrast

The difference in light intensity between two adjacent areas, making one appear brighter than the other.

Mach Bands

An optical illusion where the contrast at the edges of adjacent light and dark areas appears exaggerated.

Contrast Effects

A phenomenon in psychology where the evaluation of something is influenced by comparisons with recently encountered contrasting objects or people.

Lateral Inhibition

A process in neural networks of the brain where the activity of neurons inhibits the activity of neighboring neurons, enhancing contrast and sharpness in sensory pathways.