BUISENESS MANAGEMENT
MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Transportation of products to consumers was quite easy.
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Consumers had many choices of products on which to spend money.
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Businesses were mostly concerned about producing products that customers could afford and would purchase.
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All are true
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Detailed explanation-1: -Promotion is the marketing function which is concerned with informing the customers about the firm’s products.
Detailed explanation-2: -Businesses that do not use the marketing concept are more concerned about producing products than understanding customer needs. The “4 Ps of Marketing” are product, price, promotion, and planning. In the past, businesses expected customers to take most of the responsibility for completing marketing activities.
Detailed explanation-3: -As a creator and marketer of your product, you must consider social, environmental, government and safety issues associated with your business. Price and cost are only a part of your strategy. The brands with staying power realize their consumers want to feel good about their product or service.
Detailed explanation-4: -According to Entrepreneur, there are several critical factors to consider when marketing a new product, including the competition, the ideal customer, the unique selling proposition (USP), testing, media campaigns and understanding the life cycle of the product.