Which of the following statements about pricing is true?
A) It cannot determine the long-term viability of an enterprise.
B) It should be determined in isolation from the other marketing mix elements.
C) It is a major competitive tool in meeting and beating close rivals and substitutes.
D) It is the only element in the marketing mix that produces fixed costs.

Question

Quizplus · Accepted Answer

Pricing is a major competitive tool that can help a business meet and beat its close rivals and substitutes. The pricing strategy a business uses can have a significant impact on its market share and profitability. While pricing should not be determined in isolation from the other marketing mix elements, it is one of the most important factors that businesses need to consider when developing their marketing strategies.

Which of the Following Statements About Pricing Is True