Which Component of the Marketing Mix Refers to the Goods-And-Services

question 3

Multiple Choice

Which component of the marketing mix refers to the goods-and-services combination a company offers to its target market?

• A) promotion
• B) product
• C) price
• D) place
• E) position

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Definitions:

Corporations

Legal entities that are separate and distinct from their owners, providing limited liability, easy transferability of shares, and perpetual existence.

Joint Ventures

A business agreement between two or more parties to develop a new entity and new assets by contributing equity.

Common Laws

Laws that have developed through court decisions, traditions, and legal precedents rather than through legislative statutes.

Agency

A legal relationship in which one party (the agent) acts on behalf of another party (the principal) in dealing with third parties.