Which function identifies prospects in the marketplace, works with research and development to create products, develops promotion strategies, and establishes prices?

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24-08-2022
Business

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Which function identifies prospects in the marketplace, works with research and development to create products, develops promotion strategies, and establishes prices?

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Tundexi Tundexi · Answer 1 · 2022-08-30T14:05:45+02:00

The function that identifies prospects in the marketplace, works with research and development to create products, develops promotion strategies and establishes prices is known as Marketing.

What is Marketing?

It refers to the process of creating, distributing, pricing and promoting goods, services in order to facilitate satisfying exchange relationships with customers and develop and maintain favorable relationships with stakeholders in a dynamic environment.