ENTREPRENEURIAL MARKETING
PRICING STRATEGIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It is an element of the marketing mix that produces revenue.
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product
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price
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place
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promotion
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Explanation:
Detailed explanation-1: -Pricing is one of the four main elements of the marketing mix. Pricing is the only revenue-generating element in the marketing mix (the other three elements are cost centres-that is, they add to a company’s cost).
Detailed explanation-2: -Price in marketing mix refers to the value we pay in exchange for the product and services offered by a company. Price is considered a vital element of the marketing mix because it dictates a company’s survival and profit. Pricing of a product plays an important role in determining the success of a company.
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