Changing the Hours of Operation for a Service Business Involves

question 8

Multiple Choice

Changing the hours of operation for a service business involves the ____ component of the marketing mix.

• A) product
• B) price
• C) distribution
• D) promotion
• E) marketing concept

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Definitions:

Diversification

A risk management strategy that involves adding variety to a portfolio to spread out exposure and reduce the impact of volatility.

Market Penetration

The process of increasing the market share of a product or service within an existing market.

Marketing Plan

A comprehensive document or strategy that outlines an organization's marketing efforts, goals, and tactics for a specific period.

Marketing Tactics

Specific actions or strategies designed to achieve marketing objectives.