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Understanding the Market — Entrepreneurship STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEntrepreneurshipUnderstanding the Market5 Marks
Question
Which factors affect Marketing Mix? Explain.
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Answer

While determining suitable marketing mix following factors must be taken consideration:
  1. 'Consumers' Buying Behaviour:
  1. Buying habits,
  2. Living habits;
  3. Purchasing power,
  4. Attitude and Preferences
  5. Local environment, situations;
  6. Number of consumers of the product.
  1. Dealers' Behaviour: The behaviour of wholesalers and retailers is studied:
  1. Motivation,
  2. Structure, practice and attitude of dealers;
  3. Financial strength of dealers,
  4. Expected change in the behaviour.
  1. Competitors Behaviour:
  1. Size and strength of competing units,
  2. Number of competitors;
  3. Practices and attitudes of the competitors,
  4. Motives;
  5. Trends in e demand and supply.
  1. Government Behaviour: It implies government controls regarding,
  1. Products,
  2. Prices;
  3. Competitive Practices,
  4. Restrictive Trade Practices;
  5. Advertising and Promotion.

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