The _________________ - the systematic reductions in production costs that have been observed to occur over the life of a product. A product's production costs decline by some quantity about each time cumulative output doubles.

A marketing mix strategy differs from a strategic market plan in that a marketing mix strategy ________

A) is a long-term strategy B) needs to be reviewed each year C) has specific performance objectives D) has a 3- to 5-year time horizon E) has a 5-to 10-year time horizon

If all the variables in a model are under the control of the decision maker, then the model is considered to be:

A) probabilistic B) random C) mathematical D) schematic E) deterministic