A Marketing Manager Decides What Combination of Variables Is Needed

question 50

Multiple Choice

A marketing manager decides what combination of variables is needed to satisfy customers' needs for a general type of product. What are the essential variables that the marketing manager combines?

• A) Product, price, distribution, and promotion variables
• B) Marketing environment variables
• C) Product and promotion variables
• D) Product, price, and customer variables
• E) Product, price, customer, and promotion variables

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Definitions:

Skimming Pricing

A pricing strategy where a high price is set for a new product to maximize profits from segments willing to pay more, before prices are lowered over time.

Demand-oriented

A pricing strategy where prices are set based on the perceived value to the customer or demand for the product, rather than on the cost of the product or market competition.

Pricing Approach

Strategies and methodologies used by companies to set the selling price of their products or services, taking into account costs, market demand, competition, and profit margins.

Price-setting Process

The method by which a company determines the selling price of its products or services, considering costs, demand, competition, and profitability.