Marketing concepts and pricing | Intro to business

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Marketing is about creating exchanges. . . . when two parties give something of value to each other to satisfy their respective needs and wants” (Gitman et al., 2018, p. 413). As a start up business owner of a sole proprietorship you are confronted with two questions by your financial backers.

  • Can the marketing concept be applied effectively? Explain why or why not?
  • How does the stage of a product’s life cycle affect price? Give an example of how products in your business will be impacted.

I have a skincare business called

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