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Question
______ denotes the money value of a product or service. It is the amount of money seller is asking for the product or service he offers for sale or the amount which buyers are to pay for it.
Options
Product
Price
Place
Promotion
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Solution
Price denotes the money value of a product or service. It is the amount of money seller is asking for the product or service he offers for sale or the amount which buyers are to pay for it.
Explanation:
Price refers to the money value of a product or service. It is the amount that the seller charges for the product or service and the amount that buyers are required to pay. Price is a critical component of the marketing mix and influences consumer purchasing decisions.
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RELATED QUESTIONS
Marketing mix does not include ____________.
Which one of the following promotion tools has mass reach?
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CASE STUDY Tata Motors-owned Jaguar Land Rover on Friday reported a 4.9 per cent declinein retail sales at 88,121 units in the second quarter ended on September 30, 2020. The company had posted retail sales of 92,710 units in the same quarter previous fiscal year, Sales of the Jaguar brand were at 17,340 units in the second quarter as against 19248 units in the year-ago period, down 9.9 per cent. Similarly, sales of Land Rover brand were down 3.63 per cent at 70,781 units as compared to 73,462 units in the same quarter a year ago. While there was improvement in sales in the second quarter, it remained constrained by semiconductor shortages, the company said in a statement. "The company continues to see strong demand for its products, with global retail orders again setting new records in the quarter,” it said adding, as on September 30, 2022, the total order book has grown to 2.05 lakh units, up around 5,000 orders from June 30, 2022. Demand for the new Range Rover, new Range Rover Sport and Defender remained strong, accounting for over 1.45 lakh of the 2.05 lakh orders, it added. |
With reference to above case study, answer the following questions:
- Explain the advantages of training Tata motor employees.
- Analyse and advise on any two suitable promotional mix for Tata motors.
- In the context of above case study, Analyze any five advantages of advertising to manufacturers.
The term marketing mix refers to ______.
The skimming, penetration, parity are decided in which of the marketing mix strategy?
Marketing Mix represents the ______ of an enterprise.
An appropriate marketing mix is necessary to enable an enterprise to meet its goals. Justify for or against, giving reasons.
What is place mix?
Define the term ‘marketing mix’.
Enumerate the elements of a price mix.
