Unlike the Other Marketing Mix Elements, Price Plays a Minor

question 78

True/False

Unlike the other marketing mix elements, price plays a minor role in creating customer value and building customer relationships.

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Definitions:

Organization

An entity comprising multiple people, such as a business or club, structured to achieve specific goals or tasks.

Market Segments

Divisions of a market into distinct groups of buyers with different needs, characteristics, or behaviors who might require separate products or marketing mixes.

Multiple Products

Offering a range of different products within a company's portfolio to appeal to varied consumer needs and preferences.

Segmentation Strategy

A marketing approach that involves dividing a broad target market into subsets of consumers with common needs or characteristics.