Question : Which element of marketing mix is highlighted in the given statement?
Statement: It is a mixture of tangible and intangible features which can be exchanged for a value in order to satisfy customer needs.
Option 1: Product
Option 2: Price
Option 3: Place
Option 4: Promotion
Answer (1)
22nd Jan, 2024
Correct Answer:
Product
Solution : Product means anything of value which is offered to the market to satisfy a want or need. The concept of elect relates not only to physical product but also to benefits offered by the product. Product is a mixture of tangible and intangible features which can be exchanged for a value in order to satisfy customer needs.
Hence, option A is correct.
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