ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the starting point for a good marketing mix strategy?
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Needs of potential customers
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Product with higher sales ratio
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Research and study the competitors
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None of the above
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Explanation:
Detailed explanation-1: -Explanation: Marketing planning is the beginning point for all of an enterprise’s marketing and commercial actions.
Detailed explanation-2: -The first step in the market research process includes understanding customer wants and needs. Customer wants and needs are what create demand in a market. The market is where customers and businesses can engage in exchange relationships. In turn, demand is fulfilled by the market, specifically market offerings.
Detailed explanation-3: -Key term-MARKETING MIX-The combination of factors which help the business to take into account customer needs when selling a product – usually summarised as the 4P’s, which are price, product, promotion and place.
There is 1 question to complete.