The Element of the Marketing Mix That Describes a Good

question 180

Multiple Choice

The element of the marketing mix that describes a good, service, or idea to satisfy the consumer's need is

• A)product.
• B)price.
• C)promotion.
• D)place.
• E)process.

---

Definitions:

Variable Costs

Expenses that change in proportion to the activity of a business, such as materials and labor.

Marginal Cost

The incremental cost involved in creating an extra unit of a product or service.

Diseconomies of Scale

Occur when a firm's costs per unit increase as its output increases, opposite to economies of scale.

Production Costs

The total expense incurred in manufacturing a product or providing a service, including labor, materials, and overhead expenses.