Information Importance
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Title: Information Importance

Essay Details:

Subject: Business
Author: Kathy P
Date: May 5, 2013
Level: University
Grade: A
Length: 2 / 438

Essay text:

The lemon effect makes two predictions about markets with asymmetric information. First, the low quality products in a market will reduce the number of high quality products in the market and can even push them out. Second producers and consumers respond to the lemon conflicts by researching in information and other means of making wise and informed decisions between low and high quality products. Companies have long realized the need for information technology to meet their business strategy and grow their businesses by ensuring that their objectives are realized. Information date provides the company with a greater understanding of their competition or market; establishes product innovation, builds profits and customer satisfaction...

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