ENTREPRENEURSHIP

Detailed explanation-1: -Balancing value and satisfaction for the customer is part of the price element-because marketers know listing a low price will not always attract the desired customer, but finding the best balance will. The other options are the other elements of the marketing mix.

Detailed explanation-2: -Promotion. The goal of promotion is to communicate to consumers that they need this product and that it is priced appropriately. Promotion encompasses advertising, public relations, and the overall media strategy for introducing a product.

Detailed explanation-3: -Promotion refers to the various types of communication that marketers use to inform, persuade, or remind customers about their products.

Detailed explanation-4: -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.