|Overview: Marketing Economics|
The science of markets including product, pricing, promotion and place.
5 Types of Marketing Economics
John Spacey, updated on July 23, 2018
Marketing economics is the science of markets including product, pricing, promotion and place. Marketing is often viewed as an art that includes social elements such as influencing and creative elements such as design. These elements are built on top of economic fundamentals such as the forces of competition and customer demand. The following are key economic principles and theories related to marketing. business models that explain how you capture value. Product economics also includes the basic economics of production such as economies of scale that predict your cost competitiveness.
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