ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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production
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management
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promotion
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competition
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Detailed explanation-1: -Place (or distribution): The activities that make the product available to consumers. Promotion: The activities that communicate the product’s features and benefits and persuade customers to purchase the product.
Detailed explanation-2: -That is why the distribution function is so important. This function gets products from producers to consumers so they are on hand when consumers want to buy. Efficient distribution allows businesses to have adequate supplies of products in the right place at the right time.
Detailed explanation-3: -Marketing/Sales The marketing function also includes promoting goods and services, determining how the goods and services will be delivered and developing a pricing strategy to capture market share while remaining competitive.
Detailed explanation-4: -Product management includes the development, design and improvement of products or services. The role of a marketer in product management is to ensure that a finished product meets customer needs.