ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Price
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Determined by the franchisee rather than the franchiser
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Always based on cost plus a particular rate of mark up
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Setting the price that retailers must pay, which in turn affects the customer price
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The cost of producing the product for the business
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Explanation:
Detailed explanation-1: -If the product is already in abundance in the market, then pricing will definitely play an important role because the increase in price will discourage customers from buying it. Similarly, if prices are lowered under such market conditions, then consumers will increase the amount that they purchase significantly.
Detailed explanation-2: -Product Cost. The Utility and Demand. The extent of Competition in the market. Government and Legal Regulations. Pricing Objectives. Marketing Methods used.
There is 1 question to complete.