BUISENESS MANAGEMENT
MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Allows customers to gain an advantage over competitors
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Allows suppliers to gain an advantage over competitors
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Allows consumers to gain an advantage over competitors
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Allows the business to gain an advantage over competitors
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Detailed explanation-1: -A marketing mix includes multiple areas of focus as part of a comprehensive marketing plan. The term often refers to a common classification that began as the four Ps: product, price, placement, and promotion. Effective marketing touches on a broad range of areas as opposed to fixating on one message.
Detailed explanation-2: -Businesses adapt their marketing mix to try to convince customers that their product is better than the products of their competition. The aim of these adaptations is to gain a competitive advantage . They can do this by: offering a product or service that fills a gap in the market.
Detailed explanation-3: -Importance of Marketing Mix Helps understand what your product or service can offer to your customers. Helps plan a successful product offering. Helps with planning, developing and executing effective marketing strategies. Helps businesses make use of their strengths and avoid unnecessary costs.
Detailed explanation-4: -Product, price, place, and promotion are important elements to create an effective marketing strategy, with a controllable variable that will assist in creating the intention of the customer (Singh, 2012) .