ENTREPRENEURSHIP

Detailed explanation-1: -Market planning involves understanding the concepts and strategies used to develop and target specific marketing strategies to a select audience. This is the function that involves deciding on the products that a business will produce or offer.

Detailed explanation-2: -What are the 4Ps of marketing? (Marketing mix explained) The four Ps are product, price, place, and promotion. They are an example of a “marketing mix, ‘’ or the combined tools and methodologies used by marketers to achieve their marketing objectives.

Detailed explanation-3: -A marketing strategy is a long-term plan for achieving a company’s goals by understanding the needs of customers and creating a distinct and sustainable competitive advantage. It encompasses everything from determining who your customers are to deciding what channels you use to reach those customers.

Detailed explanation-4: -Marketing planning involves deciding on marketing strategies that will help the company attain its overall strategic objectives. In order to carry out effective planning a detailed marketing plan is needed for each business.