Explain the four primary traits that that determine the value of information. Which trait do you feel is most important? Briefly explain your answer.
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Explain the four primary traits that that determine the value of information. Which trait do you feel is most important? Briefly explain your answer.
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- What are your thoughts on determining what is real and what is fake while reading content online?How is data different from information? Information from knowledge?Prepare a list of five products purchased by your family. Indicate who is the information gatherer, the influencer the decision maker, the purchaser and the user.
- What type of database should your university maintain on its students? In general, what ethical concerns surround the use of such databases by institutions and companies?what is the relationship between information content and value relevance in an inefficient market?How can the push-pull strategy be applied to marketing and sales management in a hypothetical business scenario, and what are the potential benefits and drawbacks of this approach in terms of attracting new customers, increasing sales revenue, and improving brand recognition and loyalty?
- Define the nature and scope of the questions you must answer with regard to your market. Identify the types of information you will need about the market to answer those questions. For example, do you need to know about the buying habits, household income levels, or attitudes of potential customers?Experience is defined as “mental impact felt and remembered by an individual caused by the personal perception of external stimuli”. When it comes to entertainment products, how is the experience impacted by elements like 1. temporality, 2. presence of others, and 3. sharing with others?Were you familiar with the DRIs prior to reading this chapter? Do you think most Americans are familiar with them? Are the DRIs valuable to the average consumer? Why or why not?