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17 Cards in this Set
- Front
- Back
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LP Applications |
Production scheduling Media selection Financial planning Capital budgeting Transportation Distribution system design Staffing |
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communicating the value of a product, service or brand to customers, for the purpose of promoting or selling that product, service, or brand |
Marketing |
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Marketing applications |
Media selection Marketing research |
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Help marketing managers to allocate a fixed advertising budget to various advertising media |
Media selection |
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Media |
Newspapers Magazines Radio Television Direct mail |
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Objective of media selection |
Maximize reach Frequency Quality exposure |
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Restriction |
Company policy Contact requirements Media availability |
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Marketing research to learn about |
Consumer characteristics Attitudes Preferences |
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Financial application problems |
Portfolio selection Financial planning |
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involve situations in which a financial manager must select specific investments |
Portfolio selection (portfolio selection problems) |
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Objective function for portfolio selection problems |
Maximization of expected return or minimization of risk |
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An ongoing process to help you make sensible decisions about money that can help you achieve your goals in life |
Financial planning |
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Managing and directing the physical and/or technical functions of a firm or organization, particularly those relating to development, production, manufacturing |
Operation management applications |
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It determines how much of each of several component parts a company should manufacture and how much it should purchase from an outside supplier |
Make-or-buy decision |
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Establish an efficient low-cost production schedule for one or more products over several time periods |
Production scheduling |
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Frequently occur when production managers must make decisions involving staffing requirements for a given planning period |
Workforce assignment problems |
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Arise whenever a manager must decide how to blend two or more resources to produce one or more products |
Blending problems |
