Which Element of the Marketing Mix Is Responsible for Communicating

question 53

Multiple Choice

Which element of the marketing mix is responsible for communicating value to customers?

• A)Place
• B)Promotion
• C)Price
• D)People
• E)Produce

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Definitions:

P-value

The probability of obtaining a test statistic at least as extreme as the one that was actually observed, assuming that the null hypothesis is true.

Test Statistic

A value calculated from sample data during a hypothesis test that is compared to a threshold value to decide whether to reject the null hypothesis.

Wilcoxon Signed Rank Sum Test

A statistical test that doesn't rely on parameters to compare two matched groups, aiming to determine if there is a difference in their population mean ranks.

Normal Approximation

A technique in statistics where a binomial distribution is approximated using a normal distribution, applicable under certain conditions, such as a large sample size.