ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
CULTURAL DIFFERENCES AND ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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set up a promotional plan
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select a channel of distribution
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identify the market for the product
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determine the product’s price
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Detailed explanation-1: -Create Your Marketing Strategy A good place to start is by defining your marketing mix, which includes “the four Ps": Product, Price, Place and Promotion. Your marketing strategy will also identify your target audience(s). This is a smart way for a small business on a limited budget to focus its marketing efforts.
Detailed explanation-2: -These seven are: product, price, promotion, place, packaging, positioning and people. As products, markets, customers and needs change rapidly, you must continually revisit these seven Ps to make sure you’re on track and achieving the maximum results possible for you in today’s marketplace.
Detailed explanation-3: -Marketing strategy involves segmenting the market, selecting a target or targets, making differentiation and positioning decisions, and designing the marketing mix. The design of the product will include design of the company website.
Detailed explanation-4: -Define the market. Determine your value proposition. Define your product strategy. Discuss your channels. Consider external marketing. Support your customers. Evaluate success. 03-Jun-2019