Description should include
- the importance of the marketing mix (i.e., product, price, place, promotion) within the global marketplace
- examples of how a change in one component of the mix can affect the others
- definition of the functions of marketing and activities/applications involved in each:
- Risk management
- Selling
- Promotion
- Pricing
- Purchasing
- Marketing information management
- Product service planning
- Distribution
- Financing
Process/Skill Questions:
- How does each component of the marketing mix affect the others?
- What contribution does each of the functions bring to marketing?
- How are the marketing functions interdependent?
- How does each marketing function relate to global marketing?
- What current issues in the news relate to the marketing mix and functions of marketing in global marketing?
- How does the use of the marketing mix change based on the country where the product or service is marketed?