Marketing Decision Support Systems Are Designed to Handle Information from Both

question 88

Multiple Choice

Marketing decision support systems are designed to handle information from both internal and external sources. Internal information is particularly important for:

• A) recognizing market responses to changes in technology.
• B) understanding the changes in the environment that could influence marketing strategies.
• C) shedding light on the changes in global economies and societies.
• D) investigating the efficiency and effectiveness of various marketing strategies.

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Definitions:

Shared Vocabulary

A set of words and terms commonly known and used within a particular group, facilitating effective communication.

Learning

The process of acquiring new understanding, knowledge, behaviors, skills, values, attitudes, and preferences through study, experience, or teaching.

Mental Models

are internal representations of how things work in the external world, shaping how individuals interpret events and make decisions.

Specialized Knowledge

Expertise or skills in a specific area or field, which sets individuals or teams apart from others in terms of capabilities.