Question : Which element of the marketing mix refers to the tangible or intangible item offered to the market for exchange?
Option 1: Product
Option 2: Place
Option 3: Price
Option 4: Promotion
Answer (1)
25th Jan, 2024
Correct Answer: Product
Solution : The correct answer is (a) Product
The element of the marketing mix that refers to the tangible or intangible item offered to the market for exchange is "Product." Product represents the actual goods, services, or ideas that a company offers to satisfy the needs and wants of its target market. It includes features, design, quality, branding, packaging, and any other attributes that make up the offering.
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