Is It Always Worthwhile Gathering More Information About Customer Needs

question 30

Multiple Choice

Is it always worthwhile gathering more information about customer needs and preferences?

• A) Yes, the cost of gathering information is always negligible.
• B) Yes, provided that this information is relevant to the firm's decisions.
• C) No, a good rule of thumb is not to spend on information more than 2% of what is at stake in the decision.
• D) No, the value of additional information must be compared to its additional cost.
• E) Yes, gathering more information enables the firm to forecast demand more accurately.

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