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Questions and Answers
Which of the following is NOT a component of the marketing mix?
Which of the following is NOT a component of the marketing mix?
- Price
- Profit (correct)
- Promotion
- Product
What does the 'price' element of the marketing mix refer to?
What does the 'price' element of the marketing mix refer to?
- The value customers perceive in a product
- The cost of producing a product
- The profit margin a company aims to achieve
- The amount of money customers are willing to pay for a product (correct)
Which element of the marketing mix refers to the activities a company undertakes to make its product or service known to the target market?
Which element of the marketing mix refers to the activities a company undertakes to make its product or service known to the target market?
- Promotion (correct)
- Place
- Product
- Price
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Study Notes
Marketing Mix
- One of the components of the marketing mix is NOT "customer"
Elements of the Marketing Mix
- The 'price' element of the marketing mix refers to the amount the customer pays for the product or service
- The element of the marketing mix that refers to the activities a company undertakes to make its product or service known to the target market is Promotion
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