BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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4 P’s
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Promotional Mix Strategy
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Product Mix Strategy
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Marketing Strategy
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Detailed explanation-1: -Product, price, promotion, and place form the four Ps of the marketing mix. These are the key factors that are involved in introducing a product or service to the public.
Detailed explanation-2: -A product mix strategy is a marketing strategy that analyzes the company’s existing products and allocates resources and efforts on product lines and individual products to best promote them to a specific market or audience and in this way to maximize the company’s growth and market share.
Detailed explanation-3: -A product mix is the total number of product lines and individual products or services offered by a company. Additionally referred to as product assortment or product portfolio. Product mixes vary from company to company.
Detailed explanation-4: -Captive product pricing – complementary products. Product line pricing – the products in the product line. Product bundle pricing – several products. Optional product pricing – optional or accessory products.