Describe the components of a marketing information system (MIS), and list its three main functions
What will be an ideal response?
A typical MIS consists of people and procedures for assessing information needs, developing the needed information, and helping decision makers use the information to generate and validate actionable customer and market insights. A well-designed information system begins and ends with users. There are three main components.
First, it interacts with information users to assess information needs. Next, it develops needed information from internal company databases, marketing intelligence activities, and marketing research. Finally, it helps users to analyze and use the information to develop customer insights, make marketing decisions, and manage customer relationships.
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What is one reason that Six Sigma is more difficult to apply to service processes?
A) There is no manual that suggests how Six Sigma can be applied to services. B) The work product is more difficult to see. C) There is no way to measure process capability of a service product. D) The National Six Sigma Society cautions against using it for services.
While there are 20 percent more companies in the United States than the mid-1990s, the number of firms that are publicly traded on a major stock exchange has dropped 45 percent compared to 1995. Which of the following is one of the reasons why?
A. It lessens the threat of hostile takeovers. B. Stock exchange fees are too high. C. Firm managers want more money for themselves. D. It permits managers the freedom to think shorter term.
Piekos Corporation incurred $90,000 of actual Manufacturing Overhead costs during June. During the same period, the Manufacturing Overhead applied to Work in Process was $92,000. The journal entry to record the application of Manufacturing Overhead to Work in Process would include a:
A. debit to Manufacturing Overhead of $92,000 B. credit to Work in Process of $90,000 C. debit to Work in Process of $90,000 D. credit to Manufacturing Overhead of $92,000
The stage in which the economy hits a peak is called:
A. expansion. B. contraction. C. stagnation. D. recession. E. depression.