What is true about the price element in the marketing mix?
A) Price is the only element to start with the letter P.
B) Price has no affect on the other variable elements.
C) Price is the only element of the marketing mix that is revenue generating.
D) Prices are always static.

Question

Quizplus · Accepted Answer

Price is the only element of the marketing mix that generates revenue for the company. It also affects the other elements of the mix like product, place, and promotion. The price has to be set in such a way that it covers the costs and earns a profit for the company. However, the price is not always static and can be adjusted based on market conditions and competition. Therefore, option A and D are incorrect and option B is untrue as well.

What Is True About the Price Element in the Marketing