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The concept upon which a marketing plan is developed is calledQuestion 7Answera.Marketingb.Marketing designc.Marketing Mixd.Market structure

Question

The concept upon which a marketing plan is developed is called

  • a. Marketing
  • b. Marketing design
  • c. Marketing Mix
  • d. Market structure
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Solution

The concept upon which a marketing plan is developed is commonly referred to as the Marketing Mix. The marketing mix encompasses the key elements of a marketing strategy, traditionally known as the 4 Ps: Product, Price, Place, and Promotion. These components work together to define how a product or service is marketed to consumers and how it meets their needs.

Here’s a brief overview of the options:

  1. Marketing: A broad term encompassing all activities related to promoting and selling products or services.
  2. Marketing Design: Focuses more on the design and presentation aspects of marketing materials rather than the foundational plan.
  3. Marketing Mix: A foundational framework that ensures a comprehensive approach to addressing market needs and consumer behaviors.
  4. Market Structure: Refers to the competitive environment in which a marketing plan operates, not the foundational concept for planning itself.

Thus, the most accurate choice is c. Marketing Mix.

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