ENTREPRENEURIAL MARKETING
MARKETING MIX
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Lack of sales if target is incorrect.
|
|
|
Costs involved in market research.
|
|
|
Making of the trial product.
|
|
|
Expansion in other existing markets.
|
Detailed explanation-1: -Market expansion is a growth strategy which involves offering your existing product/service to a new market. This “new market” is generally outside of the current geographic regions in which you currently operate. Depending on your business, you might have multiple goals to accomplish with your market expansion plan.
Detailed explanation-2: -A product development strategy is a process of bringing a new product into an existing or new market by doing continuous market research, thorough testing, and careful product concept planning. It can also be about bringing an existing product into a new market.
Detailed explanation-3: -Perfect Competition. A perfectly competitive market type refers to a structure where no single business entity commands the market share. Monopolistic Competition. Monopoly Competition. Oligopoly Competition. 30-Aug-2021