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What is the role of a marketing mix in a business case study?
What is the role of a marketing mix in a business case study?
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Practice Questions
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Q1
What is the role of a marketing mix in a business case study?
To analyze financial performance
To develop a comprehensive marketing strategy
To manage human resources
To improve production efficiency
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The marketing mix is used to develop a comprehensive marketing strategy that includes product, price, place, and promotion.
Questions & Step-by-step Solutions
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Q
Q: What is the role of a marketing mix in a business case study?
Solution:
The marketing mix is used to develop a comprehensive marketing strategy that includes product, price, place, and promotion.
Steps: 6
Show Steps
Step 1: Understand what a marketing mix is. It includes four key elements: product, price, place, and promotion.
Step 2: Identify the product your business offers. What are its features and benefits?
Step 3: Determine the price of your product. How much will customers pay for it?
Step 4: Decide on the place where your product will be sold. Will it be in stores, online, or both?
Step 5: Plan the promotion strategies. How will you let customers know about your product?
Step 6: Combine all these elements to create a marketing strategy that meets your business goals.
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