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:

Local Property Tax

A tax assessed on real estate properties, usually levied by local government entities such as cities or counties.

Salary

A fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee.

Progressive Tax

A tax whose burden, expressed as a percentage of income, increases as income increases.

City Wage Taxes

Taxes imposed by some cities on the earnings of individuals working within their jurisdiction.