'The product', an element of marketing mix doesn't include:
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → Pricing
Option (1) Pricing — Not part of the product element (Correct). Price is a separate element of the marketing mix. It is the amount the customer pays, and it covers decisions on the price level, discounts and credit terms.
Option (2) Packaging — Part of the product element (Incorrect). It means designing and making the container or wrapper of the product.
Option (3) Labelling — Part of the product element (Incorrect). The label on the package gives information about the product, such as its contents, price and directions for use.
Option (4) Branding — Part of the product element (Incorrect). It gives the product a name, sign or symbol that sets it apart from other sellers’ products.
NCERT (2026-27 Edition): “Product … The concept of product relates to not only the physical product as mentioned in the above examples but also the benefits offered by it from customer’s view point (for example toothpaste is bought for whitening teeth, strengthening gums, etc.). The concept of product also include the extended product or what is offered to the customers by way of after sales services, handling complaints, availability of spare parts etc. These aspects are very important, particularly in the marketing of consumer durable products (like Automobiles, refrigerators, etc.). The important product decisions include deciding about the features, quality, packaging, labelling and branding of the products.” “Price: 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. …”
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