ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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WHEN IS A BUSINESS MOST LIKELY TO ADJUST TH MARKETING MIX OF A PROUCT?
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IF COSTS CHANGE
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IF CUSTOMERS NEEDS CHANGE
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -This is the last optional strategy for the maturity stage. Modification of marketing mix involves changing the elements of marketing mix. This may stimulate sales. Company should reasonably modify one or more elements of marketing mix (4P’s) to attract buyers and to fight with competitors.
Detailed explanation-2: -Over time, a business may adapt its marketing mix to suit the business climate, changes in trends relating to customers’ wants and needs, changes in the size and scale of the business, changes in the business’ aims and objectives, or changes in demand for a product or service.
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