Which of the Following Is a True Statement About the Four

question 37

Multiple Choice

Which of the following is a true statement about the Four Ps of the marketing mix?

• A)A decision about one of the Ps affects every other marketing-mix decision.
• B)Product is always the most important of the Four Ps.
• C)Place is typically the least important of the Four Ps.
• D)The Four Ps have little effect on a product's market position.
• E)The Four Ps are used to determine a product's target market.

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Definitions:

Fixed Costs

Costs that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.

Marginal Costs

The increase in total cost that arises from producing one additional unit of a good or service.

Output

The amount of goods or services produced by a company, industry, or economy within a certain period.

Variable Costs

Costs that vary directly with the level of output, such as raw materials and direct labor expenses.