Which component of the marketing mix refers to how much a product or service costs?
(1 point)
Responses
price
price
promotion
promotion
place
place
people
people
The correct answer is price.
The component of the marketing mix that refers to how much a product or service costs is the "price".
To determine the answer to this question, you can recall the four P's of the marketing mix: Product, Price, Promotion, and Place. Each of these components represents a different aspect of marketing strategy.
By recognizing that price is the component that relates to the cost of the product or service, you can determine that "price" is the correct answer.