Identify and Describe Two Possible Challenges a Marketer May Face

question 54

Essay

Identify and describe two possible challenges a marketer may face in developing marketing-mix models.

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Definitions:

Law of Consideration

A principle in contract law that requires an exchange of something of value between the contracting parties.

Specific

Clearly defined or identified; particular and distinct.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise made to a second party if the latter has reasonably relied on that promise.

Equitable Estoppel

A legal principle that prevents a party from denying or asserting anything to the contrary of a previous commitment or action if it would be unjust or harm the other party who relied on the initial stance.