Advertisements
Advertisements
Question
The value of the product or service expressed in terms of money is ______.
Options
Tax
Rent
Income
Price
Advertisements
Solution
The value of the product or service expressed in terms of money is Price.
Explanation:
Price refers to the monetary value assigned to a product or service. It represents what consumers must pay to acquire the product or service. Pricing is a critical element of the marketing mix and plays a significant role in influencing consumer purchasing decisions.
APPEARS IN
RELATED QUESTIONS
What is Pricing?
Price is an important element in the ______ of a firm and affects other components of it.
As a regulator of demand, how does price influence demand?
In marketing, which element is described as a key competitive weapon?
Price is a determinant of which of the following for a firm?
Which of the following is NOT a type of cost considered under the product cost factor of price determination?
Pricing based on utility and demand is founded on which economic law?
While determining price under the extent of competition factor, which aspects of competitors must be considered?
Which product pricing scenario illustrates government regulation of prices in a situation where firms have monopoly power?
Surviving in competitive markets as a pricing objective is achieved through:
