Examination should include
- gathering, storing, and analyzing information, including marketing research
- obtaining funding to run a business and provide payment options for customers
- setting prices
- using a variety of communication methods to educate customers about a business and attract them to buy its product(s)
- designing and developing products
- transporting products to customers
- exchanging a product for an agreed-upon amount of money or value.
Process/Skill Questions:
- What are the various pricing strategies that businesses implement when setting prices on their products and services?
- How can marketing research help a business?
- What are possible results of failing to obtain marketing research information before launching a new product or service?