The universal functions of marketing are performed in the same way in all nations and economic systems. This is false.
<h3>How to illustrate the information?</h3>
A consumer economy is driven by marketing, which promotes goods and services and focuses on people who are most likely to make purchases. More sales for a company that uses effective marketing techniques lead to expansion, the creation of jobs, increased tax revenue for governments, and eventually, general economic growth.
The seven components of marketing include distribution, market analysis, price setting, financing, product management, advertising outlets, and product-to-consumer matching.
In this case, the universal functions of marketing are performed in the same way in all nations and economic systems. This is false. It should be noted that different economic system has its own role to play in the market. The economic systems are capitalist, socialism, and mixed economy.
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