BUSINESS ADMINISTRATION
INTERNATIONAL MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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standard
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two-tiered
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market
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global
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Detailed explanation-1: -The four Ps are a “marketing mix” comprised of four key elements-product, price, place, and promotion-used when marketing a product or service. Typically, businesses consider the four Ps when creating marketing plans and strategies to effectively market to their target audience.
Detailed explanation-2: -A marketing mix includes multiple areas of focus as part of a comprehensive marketing plan. The term often refers to a common classification that began as the four Ps: product, price, placement, and promotion. Effective marketing touches on a broad range of areas as opposed to fixating on one message.
Detailed explanation-3: -Exporting is the direct sale of goods and / or services in another country. It is possibly the best-known method of entering a foreign market, as well as the lowest risk.
Detailed explanation-4: -Pricing is the only revenue-generating element in the marketing mix (the other three elements are cost centres-that is, they add to a company’s cost). Pricing is strongly linked to the business model. The business model is a conceptual representation of the company’s revenue streams.