Question

Price is an important element in the ______ of a firm and affects other components of it.

Options

• Place

• Product

• Promotion

• Marketing

Answer 1

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.