Examlex
_____ refers to a group of offerings that serve similar needs and are sold under the same name.
Marketing Mix
The set of controllable tactical marketing tools—product, price, place, and promotion—that a company uses to produce a desired response from its target market.
Right Price
The optimal price point for a product or service that reflects its value to the customer while allowing a business to make a reasonable profit.
Price Elastic
Describes a situation where the demand for a product changes significantly in response to a change in the product's price.
Price Inelastic
A situation where the demand for a product does not change significantly in response to price changes.
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