BUISENESS MANAGEMENT
MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Adding value to a product by making it more useful
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A company’s portion of the total industry sales for a certain type of product
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Communication directed toward customers to educate them about a product
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Determining how to get the product to the right people, in the right amounts, at the right time and place
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Detailed explanation-1: -Marketing is all about putting the right product in the right place, at the right price, at the right time. Sounds simple!
Detailed explanation-2: -A distribution channel, in simple terms, is the flow that a good or service follows from production or manufacturing to the final consumer/buyer. Distribution channels vary but typically include a producer, a wholesaler, a retailer, and the end buyer/consumer.
Detailed explanation-3: -The four Ps of marketing-product, price, place, promotion-are often referred to as the marketing mix. These are the key elements involved in planning and marketing a product or service, and they interact significantly with each other.
Detailed explanation-4: -Physical distribution is concerned with making the goods and services available at the right place so that people can purchase the same.