Which of the Following Statements Is True of the Price

question 69

Multiple Choice

Which of the following statements is true of the price component of a marketing mix?

• A)It does not affect a firm's competitive advantage.
• B)It is the least important of the four Ps of the marketing mix.
• C)It is what a buyer must give up in order to obtain a product.
• D)It is decided independently of the external environment of the business.

---

Definitions:

Reciprocal Determinism

The interacting influences of behavior, internal cognition, and environment.

Heritability

The proportion of variation among individuals in a population that is due to genetic differences.

Heritability

A measure of how much of the variation in a trait within a population can be attributed to genetic differences among individuals.

Extraversion

A personality trait characterized by outgoingness, high energy, and a tendency to seek stimulation in the company of others.