Read the following passage carefully and answer the given questions.

A new company is thinking of launching its product in an already established industry, but before that, the company wants to test the acceptance of the product in the market. Thus, the company decided to distribute free samples and collect responses about the product from the consumers. On analyisng the data received from the sampled consumers, the following observations were noted:

1. The company charges low prices compared to their competitors in the market. This is done by the company to capture market share.

2. The company should use impersonal forms of communication to reach more audiences.

3. The company must focus on adopting a three-level channel of distribution.

4. Concrete steps must be taken to monitor the image of the company in the eyes of the public.

"The company must focus on adopting a three-level channel of distribution".

Identify the marketing mix discussed here.

Place

The correct answer is option 3- Place.

Place is the marketing mix discussed in the given lines.

It is related to how the product reaches the final consumer, which is part of the Place element in the 4Ps of Marketing Mix.

Place Mix- Place or Physical Distribution include activities that make firm’s products available to the target customers. Important decision areas in this respect include selection of dealers or intermediaries to reach the customers, providing support to the intermediaries (by way of discounts, promotional campaigns, etc.). The intermediaries in turn keep inventory of the firm’s products, demonstrate them to potential buyers, negotiate price with buyers, close sales and also service the products after the sale. The other decision areas relate to managing inventory, storage and warehousing and transportation of goods from the place it is produced to the place it is required by the buyers.