Which of the following statements about the Four Ps is true?

Question

Multiple choice question.

Each of the Four Ps contributes to a whole marketing strategy.

When marketing strategy decisions are made, the Price decision should come first.

In practice, two or three of the Four Ps are part of most firms' marketing mix.

For consumer products, the Product decision is most important.

Answer 1

The true statement about the Four Ps is:

Each of the Four Ps contributes to a whole marketing strategy.

This statement reflects the idea that Product, Price, Place, and Promotion work together to create a cohesive marketing strategy. The other statements have inaccuracies: the Price decision is often considered in relation to the Product and Place decisions, not necessarily first; all four elements are usually relevant in a marketing mix; and while the Product decision is important, it is not necessarily the most important for all consumer products, as it depends on the specific context and market.