Question:medium

"They are able to charge higher price than their competitors." Which element of marketing mix is discussed in the statement?

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Price mix covers pricing strategies including premium pricing, discounts, and competitive pricing that influence demand, revenue, and brand positioning.
Updated On: Jan 16, 2026
  • Product mix
  • Price mix
  • Promotion mix
  • Physical distribution mix
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The Correct Option is B

Solution and Explanation


This directly relates to the Price element within the marketing mix. Setting a price above competitors signifies deliberate pricing strategies, often driven by considerations like perceived product quality, brand value, operational costs, and market demand. A higher price point can signal a differentiation strategy, implying that customers perceive superior value or exclusivity. Price impacts not only financial outcomes (revenue and profit) but also shapes the product's market standing and the target customer base.
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