Which element of the marketing mix is the only one that produces revenue?

Which element of the marketing mix is the only one that produces revenue?

Which of the 5 P’s in the marketing mix is the only element that generates revenue?

Price

Is the only revenue generating element amongst the four Ps?

As one of the four “ Ps ” in the marketing mix, pricing is the only revenue generating element .

Is the only marketing mix instrument that creates revenues?

Chapter 11 Pricing Decisions. Global pricing is one of the most critical and complex issues in international marketing . Price is the only marketing mix instrument that creates revenues . All other elements entail costs.

Is the most flexible element of the marketing mix?

Price is the only element in the marketing mix that produces revenue; all other elements represent costs. Price is also one of the most flexible marketing mix elements .

What are the five P’s of strategy?

Each of the 5 Ps stands for a different approach to strategy : Plan. Ploy. Pattern. Position. Perspective.

Which of the 4ps is most important?

I believe this highlights why the product is the most important aspect of the four P’s of marketing – Product, Price, Place, and Promotion. Without a product, you cannot implement any one of the other three elements of the marketing mix . And great products are easy to market as they serve both a need and want.

What is the ingredient of price mix?

Price component of the marketing mix also involves establishing policies regarding credit and discount. The variables that are taken into consideration while fixing prices are demand for the product in question, its cost, actual and likely competition, and government regulation.

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What is the 7ps?

The extended marketing mix ( 7P’s ) is the combination of seven elements of marketing that aim to work together to achieve the objectives of a marketing strategy. These 7 elements are: product; price; place; promotion; people; process and physical.

Which comes at the end of Marketing Plan?

The final phase of a marketing plan’s implementation involves receiving feedback and data to measure effectiveness. Measuring the results of the plan allows the company to directly connect the marketing plan to effective changes and make better marketing choices in the future.

What is price according to Kotler?

According to Kotler and Armstrong (2009, p. 263) the price is “the amount of money charged for a product or service, or the sum of all the values that customers give up in order to gain the benefit of having or using a product or service.”

What is pricing according to Philip Kotler?

Price . The definition of Price according to Philip Kotler is : “ Price is the amount of money charged for a product or service.” Broadly, price is the total amount that being exchange by the customer to obtain a benefit of the product or service owning.

Why is price considered to be one of the most flexible elements of the marketing mix?

Price is also one of the most flexible marketing mix elements . Unlike product features and channel commitments, prices can be changed quickly. More important, as part of a company’s overall value proposition, price plays a key role in creating customer value and building customer relationships.

Which two factors are included in marketing?

– For marketing to occur, at least four factors are required: (1) two or more parties (individuals or organizations) with unsatisfied needs, (2) a desire and ability on their part to have their needs satisfied, (3) a way for the parties to communicate, and (4) something to exchange.

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Which element of the marketing mix is related to delivery?

The place element of the marketing mix is defining how and where the product is being sold. In these days of online purchasing, the place covers both the website and the physical distribution and delivery of the product once purchased.

What is the first thing marketers must do when using value based pricing?

What is the first thing marketers must do when using ​ value – based pricing ? Assess customer needs and value perceptions. Beyond the nature of the​ market, demand, and the​ economy, what other factors in a​ firm’s external environment must a company consider when setting​ prices ?

Jack Gloop

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