Question

You are trying to be a market leader in your target market because you realize you have a quality product at a great price. In terms of the marketing mix elements, which element should you focus on?

a. Promotion
b. Place Product
c. Price Position

Answer 1

To be a market leader with a quality product at a great price, you should focus on Price Position.

Step-by-step explanation:

Based on the given information, if you have a quality product at a great price and want to be a market leader, the marketing mix element you should focus on is Price Position. Price positioning refers to determining the price level of your product in relation to your competitors in the market. By offering your product at a great price, you can attract customers and gain a competitive advantage.