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Question : Which of the following statement is correct?
Statement 1: Price is influenced by the marketing method used by the company.
Statement 2: Purchasing power of customers should not be taken into consideration while fixing the price.

Option 1: Both are true 

Option 2: Both are false

Option 3: Statement 1 is true and statement 2 is false.

Option 4: Statement 1 is false and statement 2 is true.

 


Team Careers360 21st Jan, 2024
Answer (1)
Team Careers360 23rd Jan, 2024

Correct Answer: Statement 1 is true and statement 2 is false.


Solution : Purchasing power of customers is the factor determining fixation of price. The purchasing power of customers should be taken into consideration while fixing the price of a product or services. Price in influenced by the marketing method used by the company example commission which is to be paid to the middleman for sale of the goods is also added to the price.

Hence, option C is correct.

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