For Many Organizations, Custom Software Is More Expensive Than Packaged

question 21

True/False

For many organizations, custom software is more expensive than packaged applications. However, if a package does not closely fit the company's needs, the savings are often diluted when the information systems staff or consultants must extend the functionality of the purchased packages.

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Definitions:

Market Characteristics

Features or attributes of a market, including its size, growth rate, competitiveness, and customer demographics.

Competitors

Entities that contest with others for the same objective, such as market share or recognition.

Real Potential

The genuine capacity or likelihood for success, growth, or development, often based on tangible factors like market demand or unique capabilities.

Asset-Intensive

Describes businesses or industries that require significant investments in physical assets, such as machinery, plants, or equipment, to operate.