The price element of the marketing mix affects both sales volume and profits.

Question

Quizplus · Accepted Answer

The price is a crucial element of the marketing mix that can impact sales volume and profits. A high price may limit sales volume but increase profits per unit sold, while a low price may increase sales volume but decrease profits per unit sold. Thus, finding the right price point that maximizes both sales volume and profits is important for businesses.

The Price Element of the Marketing Mix Affects Both Sales