Yes, you are correct. The component of the marketing mix that refers to how much a product or service costs is the price.
The component of the marketing mix that refers to how much a product or service costs is A) price. The price plays a crucial role in determining the perceived value of a product or service and influences consumer behavior. To determine the price of a product or service, several factors need to be considered, such as production costs, competition, market demand, and desired profit margins. Additionally, pricing strategies can vary, including cost-based pricing, competitor-based pricing, value-based pricing, or dynamic pricing.
