Question : Which of the following is an example of a pricing strategy in the marketing mix?
Option 1: Offering a loyalty program for repeat customers
Option 2: Creating eye-catching packaging for a product
Option 3: Deciding to sell a product through a specific distribution channel
Option 4: Setting a high price to position a product as a luxury item.
Correct Answer: Setting a high price to position a product as a luxury item.
Solution : Pricing is one of the four elements of the marketing mix, which refers to the amount a customer pays for a product or service. Setting a high price can be a deliberate pricing strategy to position a product as a luxury item, create a sense of exclusivity, or to signal quality.
Hence, option D is correct.
