ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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product
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price
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place
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promotion
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Detailed explanation-1: -In essence, the term “product” refers to anything offered by a firm to provide customer satisfaction, tangible or intangible.
Detailed explanation-2: -Services are intangible because they can often not be seen, tasted, felt, heard, or smelled before they are purchased.
Detailed explanation-3: -The four Ps are a “marketing mix” comprised of four key elements-product, price, place, and promotion-used when marketing a product or service. Typically, businesses consider the four Ps when creating marketing plans and strategies to effectively market to their target audience.
Detailed explanation-4: -In marketing, a product is an object, or system, or service made available for consumer use as of the consumer demand; it is anything that can be offered to a market to satisfy the desire or need of a customer.