Why Is It Important to Explain the Marketing Mix Before

question 19

Multiple Choice

Why is it important to explain the marketing mix before starting a company?

• A)It will help in pitching the product.
• B)It will prevent loss of time and money marketing to the wrong target group.
• C)It will crystalize the offering and determine how the product or service will be taken to the market.
• D)It will help categorize the service for formal Internet and print advertising media.

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Definitions:

Tax Revenues

The income that is collected by governments through the imposition of various taxes, which is used to fund public services and policies.

Deadweight Losses

The loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved, leading to a net loss in societal welfare.

Incentives

Motivational factors or mechanisms that encourage individuals or groups to behave in a certain way or to take specific actions.

Lump-Sum Taxes

Taxes that are the same amount for everyone, regardless of the taxpayer’s income level or ability to pay.