The Terms Below Refer to the Use of the Four

question 22

Multiple Choice

The terms below refer to the use of the four Ps of traditional marketing strategies. Match the term with the definition.
-_____ refers to physical goods, a service, an experience, an event, a person, a place, a property, an organization, information, or an idea.

• A) Product
• B) Price
• C) Place
• D) Promotion

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Definitions:

Income

The financial gain earned or received by an individual or entity, usually through work, investments, or other forms of economic activities.

Expected Utility

A concept in economics and finance that represents the total utility that an entity expects to gain under uncertain conditions.

Insurance Premium

The sum of money required to be paid by a person or company for obtaining an insurance coverage.

Risk-Averse

A description of an individual or entity that prefers to avoid risk, choosing safer options over potentially higher-reward alternatives.