ENTREPRENEURSHIP

ENTREPRENEURIAL MARKETING

MARKETING MIX

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

When is a business most likely to adjust the marketing mix of a product?

A	If costs change
B	If customer needs change
C	If management changes
D	None of the above

Explanation:

Detailed explanation-1: -by changing the selling price of products or bringing out budget products to match the state of the economy-eg during a recession, customers will spend less money and businesses may need to reduce their prices or develop a budget range to encourage customers to continue to purchase.

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.

Detailed explanation-3: -Identify Your Key Audiences. The first step is to identify your target audiences. Determine Critical Business Goals. You have to know where you are going before you can get there. Define Your Brand Persona. Develop Key Messaging.

There is 1 question to complete.