ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is true in relation to an integrated marketing mix?
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Price is always the most important element of the marketing mix
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Promotion is always the most important element of the marketing mix
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Place is always the most important element of the marketing mix
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All elements of the marketing mix must complement each other for it to be effective
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Explanation:
Detailed explanation-1: -The marketing mix consists of the four key elements of a marketing strategy: product, price, place and promotion.
Detailed explanation-2: -Pricing is the most important element of your marketing mix. The price you set for a product or service will significantly influence your potential customers’ choice to purchase it. Pricing will also affect consumer confidence in the benefits your product or service provides.
Detailed explanation-3: -Definition: The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The 4Ps make up a typical marketing mix-Price, Product, Promotion and Place.
There is 1 question to complete.