Paper 2 · marketing mix and pricing
A business claims that 'price is the single most important factor in the marketing of a product.' Besides price, which group of elements makes up the rest of the traditional marketing mix used to evaluate this claim?
APackaging, branding and place.
BProduct, promotion and place.
CProduction, promotion and profit.
DProduct, positioning and packaging.
Explanation: The traditional marketing mix (the '4 Ps') consists of price, product, promotion and place. Evaluating whether price is the most important factor means weighing it against these other three elements, such as product quality, advertising and distribution.
Derived from ZIMSEC Business_studies Paper 2, November 2018, Q4
