BUSINESS ADMINISTRATION
INTERNATIONAL MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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focus
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cost leadership
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differentiation
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related diversification
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Detailed explanation-1: -What are the 4 P’s of marketing mix? The 4 P’s are Product, Price, Place, and Promotion.
Detailed explanation-2: -The marketing mix is the set of controllable, tactical marketing tools that a company uses to produce a desired response from its target market. It consists of everything that a company can do to influence demand for its product. It is also a tool to help marketing planning and execution.
Detailed explanation-3: -According to the text, the product is the central focus of the marketing mix. The physical product includes the total product, brand name, accessoeies, after sales-service, warranty and instructions for use, company image, and package.
Detailed explanation-4: -How is a marketing plan used by marketers to set up a business on a journey towards success? It helps marketers present the recommended marketing strategy to various stakeholders in the company and creates a common vision in the company to coordinate resources and efforts.