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Question
Price is an important element in the ______ of a firm and affects other components of it.
Options
Place
Product
Promotion
Marketing
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Solution
Price is an important element in the Marketing of a firm and affects other components of it.
Explanation:
Price is a critical element of a firm's marketing strategy. It influences and interacts with other components of the marketing mix, such as product, place, and promotion. Effective pricing strategies can help a firm position its products, attract target customers, and achieve a competitive advantage in the market.
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