What is the major difference between the "Price" element of the marketing mix and its other elements?
A) All of the other elements can be tightly controlled, however with pricing, companies have to set prices at the market rate
B) All of the other elements represent costs, for example, expenditure on product design (product) , advertising and salespeople (promotion) and transportation and distribution (place)
C) All the other elements are of lesser concern than that of price. Setting prices that maximize profit is crucial in order to achieve commercial success and even survival
D) All of the other elements are influenced by internal organizational factors, whereas pricing is influenced by external factors which are outside the organization's control
Correct Answer:
Verified
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