INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A business should consider the impact that changes in the environment will have on the business’s marketing mix because
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Most businesses want to be reactive
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The business can change its marketing mix
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The marketing mix is affected by technology
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Government regulations can increase costs
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Explanation:
Detailed explanation-1: -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-2: -The four Ps are a “marketing mix” comprised of four key elements-product, price, place, and promotion-used when marketing a product or service.
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