Topic 3- Marketing

Question 1

Marketing:

Answer 1

all business activities designed to develop, price, promote & distribute products to present & potential customers.

Question 2

Profit Maximisation:

Answer 2

maximum difference between total revenue coming into the business and total costs being paid out

Question 3

What is the Strategic Role of Marketing goods and services?

Answer 3

to develop a combination of strategies to maximise sales, increase brand awareness and improve customer satisfaction to achieve the goal of profit maximisation.