Write a short essay explaining the differences between a marketing information system and a decision support system
What will be an ideal response?
Developed to overcome the limitations of MIS, decision support systems (DSS) enable decision makers to interact directly with databases and analysis models. The table below gives the comparison information shown in Figure 1.7 in the text.
Marketing Information System Decision Support Systems
? Structured Problems ? Unstructured Problems
? Use of Reports ? Use of Models
? Rigid Structure ? User-Friendly Interaction
? Information Displaying Restricted ? Adaptability
? Can Improve Decision Making by Clarifying Raw Data ? Can Improve Decision Making by Using "What If" Analysis
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The incremental cost of building the next unit of a good is called the:
A. Law of One Price. B. variable cost. C. marginal cost. D. fixed cost.
Answer the following statements true (T) or false (F)
1. Setting standards too high with strong incentives to get the reward and avoid the punishment can lead to resistance to control. 2. For standards to be complete, they must cover performance levels in quantity, quality, time, cost, and behavior. 3. Plans are the ends and objectives and standards are the means to those ends. 4. When controlling employee performance, the greater the employee’s capability, the less frequently you need to exert controls over that employee’s performance.
A forward contract gives its holder the option to conduct a transaction involving another security or commodity
Indicate whether the statement is true or false
Liquidity premiums reflect the risk associated with firms that possess few liquid assets
Indicate whether the statement is true or false