Price Is Considered to Be the Variable in the Marketing

question 60

Multiple Choice

Price is considered to be the variable in the marketing mix that is

• A) least flexible.
• B) most flexible.
• C) most difficult.
• D) first to be decided.
• E) last to be decided.

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Definitions:

Excess (Deficiency)

The difference between what was budgeted or expected in financial projections and the actual amount received or spent, indicating a surplus or shortfall.

Master Budget

A comprehensive financial planning document that consolidates all of an organization's budgets for various departments or activities.

Budgeted Selling Price

The projected price at which a product is expected to be sold, factored into business planning and budgeting processes.

Raw Materials

Basic materials and components used at the beginning of the production process to manufacture goods.