Which Element of the Marketing Mix Is Affected When the Mandarin

question 44

Multiple Choice

Which element of the marketing mix is affected when the Mandarin Oriental hotel in New York increases its weekend rates to $795 per night?

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

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Definitions:

Interest

The charge for borrowing money or the compensation paid to a lender by a borrower for the use of borrowed funds.

Total Assets

The sum of all resources owned by a company, including cash, inventory, property, and equipment, reflected on the balance sheet.

Depreciation

A method of allocating the cost of a tangible asset over its useful life.

Interest Receivable

An accounting term for interest that has been earned but not yet received in cash.