When one group controls an industry or market by being the only provider, this is called MONOPOLY.
Mono - Greek monos means one or single
Poly - Greek polein means to sell.
Monopoly is a market where only one sells a certain good or service. In this type of market there is no competition thus the monopolist is not driven to improve his commodity because consumers have no other choice but to buy his product.
The after sales services are included in the product category of market mix. Option C
<u>Explanation:
</u>
The set of ideas or actions taken by a business entity or a company to promote its product or brand in the market. The four P’s of marketing mix are namely,
- Product - The end product that is offered for sale.
- Price – The value set for the finished good for selling.
- Place – Direct or indirect markets.
- Promotion – Public relations, advertising, etc.,
From the given, discounts comes under pricing, product image used in advertising comes under promotion and substitute goods belong to a different topic. After-sales services comes under the service branch of the product category.
<u>d.) Title insurance</u> is one of the fees that is paid at the closing of a home purchase when it is finalized.
There are two types of title insurance.
1) Lender's Policy Title Insurance - this is an insurance to assure the lender the you own the home and that the mortgage applied is a valid lien. This happens when you buy a house through bank financing.
2) Owner's Policy Title Insurance - this is an insurance policy that protects you as the owner of the house when third party contests your ownership of the house.
Answer:
E. Sales, accounting, and manufacturing and production.
Explanation:
Order fulfillment first takes place in the Sales department - where the Sales team makes known to the customer the products and services available. then the human resources selects talent to help with the production and manufacturing. Accounting function helps determine the cost.
