ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the price of a product.
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how the product looks.
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how the product works and whatit does.
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how easy it will beto make a profit.
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Detailed explanation-1: -What is Cost-Effective? A transaction is cost-effective when the greatest benefit is gained for a comparatively low price. The concept is commonly employed when choosing from a variety of investment options, so that the greatest possible return is generated in exchange for the amount invested.
Detailed explanation-2: -Cost efficiency is important because it ensures your business is profitable, successful, and sustainable. If you’re not cost-efficient, you’ll end up spending more money than you generate-and that’s the fast track to business failure.
Detailed explanation-3: -Cost effective refers to a situation where the cost of an action is low relative to the benefit that is achieved. This means that the action is worth the cost, and that it is a good use of resources. Cost efficient, on the other hand, is a measure of how efficiently resources are used to achieve a desired outcome.