The Element of the Marketing Mix That Describes a Means

question 69

Multiple Choice

The element of the marketing mix that describes a means of communication between the seller and buyer is known as

• A) a product.
• B) promotion.
• C) the price.
• D) the place or distribution.
• E) advertising.

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Definitions:

Contribution Margin Percentage

A measure showing what percentage of sales revenue is available to cover fixed costs and contribute to net income, calculated as (Sales - Variable Costs) / Sales.

After-Tax Profit

The profit a company has left after paying all its taxes.

Tax Rate

The proportion of income that the government taxes an individual or business.

Profit and Loss Statement

A financial statement that summarizes revenues, costs, and expenses incurred during a specific period, usually a fiscal quarter or year.