Why Are Firms So Obsessed with the Pricing Element of the Marketing

question 3

Multiple Choice

Why are firms so obsessed with the pricing element of the marketing mix?

• A) because pricing is the most difficult element of the marketing mix to change
• B) because the firm's pricing has a direct bearing on its ability to increase revenue
• C) because pricing is the only marketing element that matters to customers
• D) because pricing is the best part of the marketing mix in which to make an educated guess about the most appropriate strategy
• E) because pricing is directly responsible for demand

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Definitions:

Group Therapy

A form of psychotherapy where a small group of patients meet regularly to talk, interact, and discuss problems with each other and the therapist.

Inferiority Feelings

Emotions arising from the conscious or unconscious perception of one's self as being less than others in some way, which may motivate compensatory behaviors.

Motivating Force

A psychological or physiological factor that drives an individual towards a goal or satisfies a need.

Behavior

The actions, reactions, or mannerisms exhibited by individuals, often studied in psychology to understand and predict human motives and development.