Question

Lacy just started a gourmet chocolate bar business. She's spent months perfecting the bars from the ingredients to the wrapping. She has found a local candy store that will sell the bars, and they'll also be available online. She plans on purchasing ad space in a local magazine, too. Which variable of the marketing mix strategy does Lacy still needs to consider?
A.
Price
B.
Promotion
C.
Product
D.
Place

Answer 1

The answer would be A, Price.

Lucy is an entrepreneur who started a chocolate (Product) business. She has found a local candy store (Place) that will sell bars and they will also be available online.  She has also planned to purchase ad space in a local magazine (Promotion).

Now she has done with all the variables of marketing mix except Price. She has decided the place, she has come up with the promotional strategy, She has the product with her. So the only thing that needs to be decided is the Price.

Answer 2

Answer

option A

Price

Explanation

Lacy have considered almost all marketing mix strategy except for "Price".

As,

Lacy have started a gourmet chocolate bar and have spent months in perfecting her product, by taste and by its presentation - Product

The place where her Lacy will place her product is a local candy store as well as online - Place

Lacy have planned to give advertisement in a local magazine for marketing - Promotion