ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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change the price of the product
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redesign the product
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establish the target audience for the product
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introduce an extension strategy for the product
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Detailed explanation-1: -The type of advertising that you and your company choose to engage in should align with your ideal customer profile and work to engage with them often. On top of this, the method you choose should be cost-effective and make sense with the product or service you’re advertising.
Detailed explanation-2: -Company’s general and advertising objectives are the prime considerations in media selection. Those media capable to meet company’s expectations are likely to be selected. Advertising objectives may be to inform, remind, convince, create prestige, or to increase sales and profits.
Detailed explanation-3: -Cost is an important factor to consider when choosing your medium. Ads in certain types of media are more expensive than others. You will likely pay more for television and radio ads, whereas magazine and newspaper ad placements are more affordable. Even within each medium, there are varying costs.