Questions: Which element of the marketing mix refers to the specific combination of goods, services? Promotion Product Place Price

Which element of the marketing mix refers to the specific combination of goods, services?
Promotion
Product
Place
Price
Transcript text: Which element of the marketing mix refers to the specific combination of goods, services? Promotion Product Place Price
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Solution

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Answer

The answer is Product

Explanation
Option 1: Promotion

Promotion refers to the activities and strategies used to inform, persuade, and remind customers about a product or service. It includes advertising, sales promotions, public relations, and personal selling. While important, it does not refer to the combination of goods and services.

Option 2: Product

Product refers to the specific combination of goods and services that a company offers to its target market. It includes the design, features, quality, and branding of the goods and services. This is the correct element of the marketing mix that refers to the combination of goods and services.

Option 3: Place

Place refers to the distribution channels and locations where a product or service is made available to customers. It involves logistics, supply chain management, and retailing. It does not refer to the combination of goods and services.

Option 4: Price

Price refers to the amount of money customers must pay to acquire a product or service. It involves pricing strategies, discounts, and payment terms. It does not refer to the combination of goods and services.

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