Which Element of the Marketing Mix Relates to Services Like

question 52

Multiple Choice

Which element of the marketing mix relates to services like warranties and guarantees that accompany a good or service?

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

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Definitions:

Producing Product

The process of creating goods or services that are offered in the market for consumption or use.

Resources

Assets or inputs used to produce goods and services.

Economic Profit

The difference between a firm's total revenues and its total costs, including both explicit and implicit costs, indicating the financial gain in excess of opportunity costs.

Accounting Profit

The total revenue of a firm less its explicit costs; the profit (or net income) that appears on accounting statements and that is reported to the government for tax purposes.