Sunrise Fans Ltd. decides the amount of money buyers must pay for each fan. It also decides the number of days of credit it will allow to traders. These decisions relate to which element of the marketing mix?
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → Price
Option (1) Product — Incorrect. Product decisions are about the features, quality, packaging, labelling and branding of the fans.
Option (2) Price — Correct. Price is the amount of money customers have to pay to get the product. Price decisions include fixing this amount and also discounts and credit terms to traders. The days of credit allowed to traders are part of this decision.
Option (3) Place — Incorrect. Place decisions are about making the product available: choosing dealers, keeping stock, warehousing and transport.
Option (4) Promotion — Incorrect. Promotion decisions are about informing and persuading customers through advertising, personal selling and sales promotion.
NCERT (2026-27 Edition):
NCERT (2026-27 Edition): “… perceive the price to be in line with the value of the product.” |
