7) Which of the following is true?
A. The product P in the marketing mix stands for only tangible merchandise.
B. The product P in the marketing mix stands for only physical goods.
C. The product P in the marketing mix stands for both physical goods and tangible
D. The product P in the marketing mix stands for both physical goods and services.
Your School Subject is NOT college.
To determine which of the options is true regarding the product P in the marketing mix, we need to understand what the product P represents. The marketing mix refers to a set of controllable marketing tools that a company uses to pursue its marketing objectives. These tools are commonly known as the 4Ps: product, price, promotion, and place.
The product P specifically refers to the offerings that a company provides to its target market. This can include both physical goods and services.
To answer the question, we need to identify the option that accurately reflects the scope of the product P in the marketing mix.
Option A states that the product P represents only tangible merchandise. Tangible merchandise refers to physical goods that can be touched, seen, and measured. While this is a component of the product P, it does not encompass the entire concept.
Option B claims that the product P represents only physical goods. This is similar to the previous option and does not capture the full extent of the product P.
Option C states that the product P represents both physical goods and tangible. This option suggests a combination of physical goods and tangible-based elements. However, it should be noted that tangible means something that can be perceived by the senses, including physical goods. So, this option is repetitive and not completely accurate.
Option D claims that the product P represents both physical goods and services. This option accurately captures the comprehensive nature of the product P in the marketing mix. It recognizes that companies offer both tangible products and intangible services as part of their marketing strategy.
Therefore, the correct answer is D. The product P in the marketing mix stands for both physical goods and services.