ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A business has found through conducting market research that a price reduction will increase product sales. This business might therefore decide to:
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Increase production levels when price is reduced
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Decrease production levels when price is reduced
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Increase production levels when price is kept the same
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Decrease production levels when price is kept the same
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Explanation:
Detailed explanation-1: -Market penetration is one of the four main business growth strategies. It involves focusing on selling your existing products or services into your existing markets, with the aim of increasing your market share.
Detailed explanation-2: -Market-share or sales analysis. A study of the effectiveness of coupons is an example of what kind of research?
Detailed explanation-3: -Identify New Opportunities and Needs. Understand Your Customers. Conduct Brand Research. Collect and Analyze Data. Don’t Make Assumptions. Apply Personalized Problem-Solving Techniques per Project. Improve Communication Skills. Gather Product Feature Insights. More items
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