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Question : Which element of marketing mix is highlighted in the given statement?
Statement: It is a mixture of tangible and intangible features which can be exchanged for a value in order to satisfy customer needs.
 

Option 1: Product
 

Option 2: Price
 

Option 3: Place
 

Option 4: Promotion 


Team Careers360 17th Jan, 2024
Answer (1)
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Team Careers360 22nd Jan, 2024

Correct Answer: Product


Solution : Product means anything of value which is offered to the market to satisfy a want or need. The concept of elect relates not only to physical product but also to benefits offered by the product. Product is a mixture of tangible and intangible features which can be exchanged for a value in order to satisfy customer needs.

Hence, option A is correct.

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