All of the Following Are Benefits of Modeling Except

question 53

Multiple Choice

All of the following are benefits of modeling except:

• A) Modeling delivers needed information on a more timely basis.
• B) Modeling finds the right answers to incorrect or flawed problem statements.
• C) Modeling is helpful in examining things that would be impossible to do in reality.
• D) Modeling is less expensive than implementing several alternative solutions.

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Definitions:

Technical Sophistication

The level of advanced technical knowledge and capability incorporated into products, processes, or services.

Complexity

A characteristic of systems or situations that involves multiple interrelated parts, making them difficult to understand, predict, or manage.

Product Life Cycle

A model that describes the stages a product goes through from its introduction to the marketplace until its decline and eventual withdrawal. These stages typically include introduction, growth, maturity, and decline.

Promotional Mix

The blend of different marketing strategies (advertising, sales promotion, public relations, personal selling, and direct marketing) used to achieve marketing goals.