Explain the concept of private enterprise. Explain the role of profit in a free enterprise system. Understand the concept of competition and explain its affect on product quality and prices. Understand the importance of the concept of productivity in both personal and business applications. Discuss the nature of international trade.
Distribution Explain the nature and scope of distribution.
List the key steps in the receiving process. Marketing Information Management Explain the nature and scope of marketing information. Explain the nature and scope of purchasing. Explain the nature and scope of pricing in establishing business image and profitability. Explain the role of promotion in the process of business communication.