Question : Which of the following statement is correct?
Statement 1: Promotion mix refers to the combination of all the decisions related to make products available to consumers.
Statement 2: Price mix refers to all those decisions which are concerned with the price fixation of any product or services.
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.
Correct Answer:
Statement 1 is false and statement 2 is true.
Solution : Price mix refers to all those decisions which are concerned with the price fixation of any product or services.Place mix refers to the combination of all the decisions related to make products available to consumers. Promotion mix refers to combination of promotional tools used by the business to inform and pursuade the customers about the products.
Hence, option D is correct.