Question

The pricing variable is closely related to the other four elements of the market mix.​ however, price differs dramatically from​ product, placement, and promotion in terms of the speed with which it can be changed. which of the following factors differentiates price as a market mix​ variable?

Answer 1

There are four elements which are directly affected by the pricing variable and vice versa: the product, the placement and the promotion. These elements can be very dynamic due to the fast pace change of the market price. Although price is also affected by these elements since the condition of the products, where it is placed and how it is promoted are very important factors in the market mix.