Discussion Post: Marketing Concepts and Pricing
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.
a) Can the marketing concept be applied effectively? Explain why or why not?
b) How does the stage of a product's life cycle affect price? Give an example of how products in your business will be impacted.
The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.