A product's classification can influence its price, distribution, and promotion.

Question

Quizplus · Accepted Answer

A product's classification can affect how it is perceived by consumers and can therefore impact its price, distribution channels, and promotional strategies chosen by the company. For example, luxury goods are typically priced higher and marketed through exclusive channels compared to budget products that are often sold through mass-market retailers.

A Product's Classification Can Influence Its Price, Distribution, and Promotion