Answer: Option D
Explanation: The set of activities done by a company for marketing its product is called marketing mix. These are the factors that affect the marketing results of the entity and should be considered thoroughly while decision making.
Seven elements of marketing mix are :-
1. Product
2. Price
3. Place
4. Promotion
5. Packaging
6. Positioning
7. People
THUS, DISTRIBUTION IS NOT ITS PART.
Answer:
The correct answer is the option 1: high pressure for cost reductions and low pressure for local responsiveness.
Explanation:
To begin with, the concept known as <em>"Global Standardization"</em>, in the field of marketing and business, refers to the strategy that the companies can use when they decide to implement the same marketing strategy or campaign to every country in where the organization works. Therefore that the term refers to the standardization of the strategy that the company use in the marketing area to the whole globe due to the fact that mainly they look for the reduction of the costs and also because the pressure from the local responsiveness from the other foreign countries tend to be very low.
When there is highly inelastic supply of the factor and highly inelastic demand of the factor, in these situations the owners supply factors of production are the most likely to earn economic rent. So, the answer should be:
factors of production are the most likely to earn economic rent when they are highly inelastic supply of factor and highly inelastic demand of the factor.
