Question

Price, as a function of marketing, is best described as:

विकल्प

• the cost incurred by the firm in producing the product

• the value of goods stored in warehouses

• the commission paid to intermediaries

• the amount customers pay to get the product and it strongly affects demand

Answer 1

Price is the amount customers pay to obtain the product. It is a critical marketing variable because it strongly affects the demand for the product in the market.