Question

Which element of the marketing mix answers the prompt, "What does the customer give up in this exchange?"

a) Money
b) Price
c) Place/Distribution
d) Product

Answer 1

The element of the marketing mix that answers the prompt, 'What does the customer give up in this exchange?' is Price.

Step-by-step explanation:

The element of the marketing mix that answers the prompt, 'What does the customer give up in this exchange?' is Price. Price refers to the amount of money that the customer pays in exchange for the product or service. It represents the value given up by the customer in order to make the purchase.

Pricing strategies are essential as they affect how a product is positioned in the market and influence its perceived value.