Examlex
Discuss the creation of a marketing plan. What are the major components of a marketing plan?
Product
An item or service that is created through a process and is offered for sale or use.
Luxury Goods
High-end products and services that are perceived to be more prestigious and are usually purchased by individuals with more disposable income.
Price Elastic
Refers to the degree to which the quantity demanded or supplied of a good or service changes in response to a change in its price.
Necessities
Basic needs essential for maintaining life, such as food, water, shelter, and clothing, which take precedence over other types of spending.
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