Why are firms so obsessed with the pricing element of the marketing mix?
A) because pricing is the most difficult element of the marketing mix to change
B) because the firm's pricing has a direct bearing on its ability to increase revenue
C) because pricing is the only marketing element that matters to customers
D) because pricing is the best part of the marketing mix in which to make an educated guess about the most appropriate strategy
E) because pricing is directly responsible for demand

Question

Quizplus · Accepted Answer

Pricing has a direct impact on a company's revenue. Pricing strategy affects the demand for the product/service, which ultimately leads to the revenue generated by the company. Therefore, it is essential for firms to be obsessed with the pricing element of the marketing mix.

Why Are Firms So Obsessed with the Pricing Element of the Marketing