Question

Why price considered to be one of the most flexible elements of the Marketing Mix?

Answer 1

Answer:

Price is also one of the most flexible marketing mix elements. Unlike product features and channel commitments, prices can be changed quickly. ... Prices have a direct impact on a firm's bottom line. A small percentage improvement in price can generate a large percentage increase in profitability.

Answer 2

Pricing plays an important role in marketing the product.

Explanation:

• After the product, the pricing plays an important role in the marketing of the product. The element of prose is an income and profit-generating one.

• It is important as it helps to support the cost of production, distribution, and promotion.  

• Pricing has an indirect impact on the firm's productivity, it can be made quickly with almost no lead time.  While the products in the distribution channel can take months.

• Any pricing decision needs to go through proper research. Pricing triggers a first impression and is a key to sale promotion.

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• brainly.in/question/16600791 answered by Adityaanand20.