Why Are Firms So Obsessed with the Pricing Element of the Marketing

question 35

Multiple Choice

Why are firms so obsessed with the pricing element of the marketing mix?

• A) Because pricing is the most difficult element of the marketing mix to change.
• B) Because it is considered to be one of the few ways to differentiate a product in commoditized and mature markets.
• C) Because pricing is the only marketing element that matters to customers.
• D) Because pricing is the best part of the marketing mix in which to make an educated guess about the most appropriate strategy.
• E) Because pricing is directly responsible for demand.

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Definitions:

Earnings Gap

The disparity in income between different groups of workers, often analyzed by gender, race, or education level.

Discrimination Victims

Individuals who have suffered unfair treatment or prejudice in various contexts (e.g., workplace, public services) based on personal characteristics such as race, gender, or age.

Charter Of Rights

A formal document or legislation that outlines the fundamental rights and freedoms of citizens, protected by law.

Fundamental Rights

Basic human freedoms and protections that are guaranteed by the constitution or recognized universally, such as freedom of speech and right to equality.