Question

a(n) identifies how a company uses marketing to achieve its goals.
your answer
a marketing mix is the blending of four marketing elements: , , , and .
your answer
solving a current problem with existing information gathered for another purpose is research; studies carried out to gather new information is research.
your answer
the difference between the selling price and the product costs is .
your answer
the exchange of information so there is common understanding by all participants is called .
your answer

Explanation:

• For the first blank, a marketing plan outlines how a company uses marketing to achieve its goals.
• The four elements of the marketing mix are product, price, place, and promotion.
• Secondary research uses existing information, while primary research gathers new information.
• The difference between selling price and product costs is profit.
• The exchange of information for common understanding is communication.

Answer:

1. marketing plan
2. product, price, place, promotion
3. secondary, primary
4. profit
5. communication