BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Geographical area covered
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Type of buyers
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Quantity of good transacted
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All of the above
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Detailed explanation-1: -Market refers to some geographical area, which has many types of buyers and sellers. The market is an area where transactions are processed. Transaction refers to the transaction of goods and money.
Detailed explanation-2: -Market refers to the place, where buyers and sellers gather to facilitate the exchange of goods and services.
Detailed explanation-3: -Solution(By Examveda Team) The term marketing refers to a philosophy that stresses customer value and satisfaction.
Detailed explanation-4: -Exchange Mechanism: The process of marketing works through the exchange mechanism. The individuals obtain what they need and want through the process of exchange.
Detailed explanation-5: -Solution. If the demand for a product is inelastic.