ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Of the following, it is the purpose of a decision support system.
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Gathering a random sample
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Gathering competitive intelligence
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Gathering and manipulating marketing information
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None of the above
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Explanation:
Detailed explanation-1: -A system used to manipulate a collection of data to interpret and explore potential business scenarios in order to make management decisions. Marketing decision support systems (MDSS) are considered by some businesses a key tool in gaining the edge over competitors.
Detailed explanation-2: -Statistical models. These models are used to establish relationships between events and factors related to that event. Sensitivity analysis models. These models are used for “what-if” analysis. Optimization analysis models. Forecasting models. Backward analysis sensitivity models. 14-Nov-2022
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