On the basis of the information given in the case, answer the next five questions.

"Just Foodie" is a food chain offering different snacks like chips, biscuits, chocochip cookies, cakes, etc. through their own retail outlets. To make their products available to customers at right time, right place, they are also selling their products to grocery stores in addition to their own outlets. The taste, quality and packing are given utmost care. They are offering good quality, so they able to charge higher price than their competitors. To increase their sales, they are using different offers like Free gifts, Cash backs, etc. They are offering discounts to customers on various occasions. All these considerations have made "Just Foodie" a complete success and they are able to win over different competitors in the market, and their market share is rising continuously.

"They are able to charge higher price than their competitors."

Which element of marketing mix is discussed in the statement?

Price mix

The correct answer is Option (2) → Price mix. 

The element of marketing mix discussed in the statement "They are able to charge a higher price than their competitors" is "Price mix." This statement refers to the pricing strategy employed by "Just Foodie," indicating that they have the ability to set their prices higher than competitors, suggesting a differentiation strategy based on pricing within the price mix element of the marketing mix.

* Price is the amount of money customers have to pay to obtain the product. In case of most of the products, level of price affects the level of their demand. The marketers have not only to decide about the objectives of price setting but to analyse the factors determining the price and fix a price for the firm’s products. Decisions have also to be taken in respect of discounts to customers, traders and credit terms, etc., so that customers perceive the price to be in line with the value of the product.