BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Distribution
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Product
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Target market
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Pricing
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Detailed explanation-1: -Target market is not an element of the marketing mix. A target market refers to a group of potential customers to whom a company wants to sell its products and services.
Detailed explanation-2: -A target market can be translated into a profile of the consumer to whom a product is most likely to appeal. The profile considers four main characteristics of that person: demographic, geographic, psychographic, and behavioral.
Detailed explanation-3: -What are the 4Ps of marketing? (Marketing mix explained) The four Ps are product, price, place, and promotion. They are an example of a “marketing mix, ” or the combined tools and methodologies used by marketers to achieve their marketing objectives.
Detailed explanation-4: -Effective, efficient marketing requires an understanding of several key concepts, and how to best use them to reach your target market. These concepts are part of the marketing mix.
Detailed explanation-5: -"People” is not included with the marketing mix. The four P’s are : price, product, promotion, and place.