Which of the Following Statements About Pricing Decisions in Marketing

question 4

Multiple Choice

Which of the following statements about pricing decisions in marketing strategy is TRUE?

• A) Price is one of two elements of the marketing mix that leads to revenue.
• B) Price has a direct connection with customer demand.
• C) Pricing is the least manipulated element of the marketing mix.
• D) Pricing is the most difficult element of the marketing mix to change.
• E) Customers will always equate higher prices with higher quality products.

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Definitions:

Severable Contracts

Agreements composed of independent clauses or sections, where the invalidation of one part does not necessarily void the entire contract.

Independent Contracts

Agreements between individuals or organizations where one party offers services to another as a non-employee.

Exculpatory Agreement

A contract provision that relieves one party of liability if damages are caused during the execution of the contract.

In Pari Delicto

A legal doctrine stating that if both parties involved in a lawsuit are equally at fault, the court will not assist either party.