Identify the Ways That Small Businesses Can Benefit from an Understanding

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The Answer is Small businesses need to understand the marketing mix,products,pricing,distribution,and promotion.Small businesses need a thorough understanding of what customers want.Small-business pricing errors usually result from a failure to estimate operating expenses accurately,but when small businesses set prices by carefully assessing costs,many earn satisfactory profits.Small-business distribution is the ability of many small businesses to attract and retain customers depending partly on the choice of location,especially for new service businesses.Small-business promotion includes holding down costs by using less expensive promotional methods,like publicity in local newspapers or identifying themselves and their products with associated groups,organizations,and events.

Identify the Ways That Small Businesses Can Benefit from an Understanding

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