Unlike the other marketing mix elements, price plays a minor role in creating customer value and building customer relationships.

Question

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Price is a critical component of the marketing mix and plays a significant role in creating customer value and building customer relationships. Pricing strategies can impact consumer perception of a product's quality, value, and brand image, and pricing decisions can directly affect a company's profitability and market share. Therefore, pricing is an essential element of marketing strategy and must be carefully planned and executed to support the overall goals of the organization.

Unlike the Other Marketing Mix Elements, Price Plays a Minor