In order to develop the "right strategy" to succeed in business, managers must make the right decisions; and in order to make the right decisions, they must have objective, accurate, and timely:
A) reports about the competition
B) reports about customers wants and needs
C) the number and sizes of market segments
D) information
E) marketing mix elasticity coefficients

Question

Quizplus · Accepted Answer

The statement emphasizes on the need for objective, accurate and timely information for making the right decisions to develop the right strategy to succeed in business. Hence, the "information" option (D) is the best choice. Options A, B, and E are only specific types of information that may be needed but not the only ones, while option C relates to the number and sizes of market segments which is not directly related to the decision-making process.

In Order to Develop the "Right Strategy" to Succeed in Business