BUSINESS ADMINISTRATION
RETAIL MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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target market, product assortment, procurement, and price
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target market, marketing strategy, supply chain, and price
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Marketing strategy, procurement, price, and supply chain
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Price, place, product, and procurement
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Detailed explanation-1: -In practice, marketing decisions encompass decisions about market segmentation, product quality and design, the choice of distribution channels, corporate image-building, advertising budgets, sales promotions, etc.
Detailed explanation-2: -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-3: -The objective of product decisions is to ensure that the ‘product’ element of the marketing mix is effective. Marketers make individual product decisions (attributes, branding, etc.), product line decisions, and product mix decisions.