The marketing mix is the four P's of the company, which include product, place, price, and promotion. The four P's are the strategies developed by the company prior to the release of its products into the market.
<h3>What is marketing mix?</h3>
The four factors of the marketing mix are the main components that define the success or failure of any good or service.
It is decided by keeping in mind the internal and external factors of the business, like the competitors, resources, targeted customers, and substitute goods.
Thus, option A, marketing mix is the correct option.
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Answer:
Option D Its market share divided by that of the largest other competitor.
Explanation:
The market share is usually calculated using the following formula:
Market Share = Company's gross sales / Total sales of Industry firms
This gives a percentage view of how much the business has captured the total of the market share. So if their is not available much data that provides information about the industry sales then the business can use the greatest competitor's gross sales as a total sales of industry firms. The market share calculated would help here in assessing the pace of market share growth of its firm.
Answer:
C.
Explanation:
Market Orientation refers to a business approach that focuses on what the customers want and need and then creating the products to satisfy them. Therefore based on the information provided in this question it can be said that the likeliest answer is that Leyton Electronics Inc. satisfies its customers' wants and needs legally and responsibly.
Organizational policies originate with top level of management and are disseminated to lower levels for implementation.
Top level of management consists of an organization’s board of directors and the chief executive or the managing director of the company.
It is the ultimate source of power and authority because it oversees the goals or policies, and procedures of a company. Main priority of the top level management is on the strategic planning and execution of the overall business success.
The roles and responsibilities of the top level of management can be summarized as given below:
To lay down the objectives and the broad policies of the business enterprise.
To issue necessary instructions for the preparation of department-specific budgets, as well as schedules or procedures, etc.
To preparing strategic plans and policies for the organization.
To establish controls of all organizational departments.
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