question 3\nselect an industry from this table:\nindustries\nagriculture and mining\thospitality and…

question 3\nselect an industry from this table:\nindustries\nagriculture and mining\thospitality and tourism\nconsumer electronics\tconsumer services\nmanufacturing\tenergy and utilities\nfinancial services\thealth, pharmaceuticals, and biotech\nnow create a sample business model to describe how you expect to make a profit from this business. include these topics in your answer:\n- pricing\n- marketing\n- location\n- costs\n- profit

question 3\nselect an industry from this table:\nindustries\nagriculture and mining\thospitality and tourism\nconsumer electronics\tconsumer services\nmanufacturing\tenergy and utilities\nfinancial services\thealth, pharmaceuticals, and biotech\nnow create a sample business model to describe how you expect to make a profit from this business. include these topics in your answer:\n- pricing\n- marketing\n- location\n- costs\n- profit

Answer

Brief Explanation:

Let's choose the "health, pharmaceuticals, and biotech" industry. Pricing would be set based on research - development costs and market demand. Marketing could target healthcare providers and consumers through medical journals and online health platforms. Location might be near research institutions for access to talent. Costs include R&D, manufacturing, and marketing. Profit is made by selling products at a price higher than the sum of all costs.

Answer:

Industry: Health, pharmaceuticals, and biotech Pricing: Set based on R&D and market demand. Marketing: Target healthcare providers and consumers via medical journals and online health platforms. Location: Near research institutions. Costs: R&D, manufacturing, marketing. Profit: Selling products at a price higher than total costs.