BUISENESS MANAGEMENT
MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Single men, 40 and under, who live in the Midwestern U.S.
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Amateur photographers who prefer first-rate equipment to capture quality images
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Large businesses who have internal marketing departments
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People between the ages of 16 and 30 who work at least part-time and are paid hourly
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Detailed explanation-1: -Identify environmental factors The first step in the environmental analysis process is identifying the factors that can affect an organization or industry. Typical elements include economic, technological, social, and legal forces. Marketers make sure that they pick only factors that apply to the organization.
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. Typically, businesses consider the four Ps when creating marketing plans and strategies to effectively market to their target audience.
Detailed explanation-3: -Product mix, also known as product assortment or product portfolio, refers to the complete set of products and/or services offered by a firm.
Detailed explanation-4: -Definition: The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The 4Ps make up a typical marketing mix-Price, Product, Promotion and Place.