answersLogoWhite

0

What else can I help you with?

Continue Learning about Marketing

What represents a factor that advertisers consider when they are trying to persuade people to buy their product?

all


What are factor markets and product markets?

Factor markets are markets for inputs into the workforce, such as labor markets, land markets, and capital markets. They represent items that are factors in the growth of business. Product markets are the the outputs produced by markets such as goods and services.


Distinguish between product markets and factor market?

Product markets are where goods and services are bought and sold, involving transactions between consumers and producers. In contrast, factor markets are where factors of production—such as labor, capital, and land—are exchanged, typically involving businesses seeking resources to produce their goods and services. Essentially, product markets focus on end products, while factor markets concentrate on the inputs required for production.


What is the difference between factor market amd product market?

Factor Market: Market where factors of production are traded for $$$ (Land, Labor, Capital, Entrepreneurship) AMD (:p lol) AND Product Market: Where final products from businesses or firms are sold by means of factors of production (i.e. target, best buy, etc.)


What make pricing of product an important product decision Justify its significance in the light of the growth and profitability of the business?

The pricing of a product is a key factor in determining demand for the product. For instance, if something is priced too high, demand will decrease. If an item is priced lower than competitors, all other factors being equal, then demand for the product will increase.