Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
Related questions
Question
What are the main ingredients of a business process?
Use an example to illustrate your answer.
Expert Solution
Step 1
Talking about the ingredients of a business process then, the following four are given below:
1) The first ingredient is the information gathering about the products or the competitors that are there in the market giving intense competition to the business. We meed to understand what competitors are doing and what we have to offer in order to satisfy customers.
2) The second is the looking foe the alternatives so that business will make maximum profit by looking at the strength and weakness.
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