Question : Which function of marketing is highlighted in the given statement?
Statement: It involves determination of products price.
Option 1: Gathering and analysing market information
Option 2: Price
Option 3: Packaging and labelling
Option 4: Branding
Answer (1)
21st Jan, 2024
Correct Answer: Price
Solution : Price refers to amount of money which a customer has to pay to buy a product. Pricing involves determination of products price. It is a very crucial function of marketing as consumers are highly price sensitive and its success or failure of a product in the market.
Hence, option B is correct.
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