Final answer:
The marketing mix variable concerning what a consumer sacrifices to obtain a product or service is price. Price includes the list price and additional costs and is vital for determining a company's revenue and gaining a competitive market position.
Step-by-step explanation:
The marketing mix variable that deals with what a consumer must give up in order to purchase a product or service is price.Price is a component of the marketing mix that refers to the amount of money that customers must pay for a product or service. It encompasses not only the list price but also any additional costs like discounts, financing, and other pricing strategies. Price is essential because it affects the company's revenues and profits, and is intimately linked to the perceived value of the product or service in consumers' minds. Therefore, setting the right price is crucial for market competitiveness and customer satisfaction.