Which of the Following Is True with Regard to Price

question 12

Multiple Choice

Which of the following is true with regard to price?

• A) Historically, price has had the least perceptible impact on buyer choice.
• B) Price is the least flexible element in the marketing mix.
• C) Unlike product features and channel commitments, prices cannot be changed quickly.
• D) Price is the sum of all the values that customers give up to gain the benefits of having a product.
• E) Prices only have an indirect impact on a firm's bottom line.

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Definitions:

Marketing Mix

The combination of factors that can be controlled by a company to influence consumers to purchase its products, including product, price, place, and promotion.

Market Fads

Short-lived trends or crazes in the marketplace that can suddenly explode in popularity but fade away just as quickly.

SWOT Analysis

A strategic planning tool that assesses a company's strengths, weaknesses, opportunities, and threats.

Strength

An organization's capabilities or resources that give it an advantage in meeting the needs of its target markets.