Which of the following would be considered part of a firm's marketing mix?

• A. Profit, revenue, cost, and output
• B. Supply, demand, equilibrium, and surplus
• C. Production, labor, capital, and land
• D. Product, price, place, and promotion

Answer: (D)

Verified step by step guidance

1. Understand that the marketing mix refers to the set of controllable, tactical marketing tools that a firm uses to produce the desired response from its target market.
2. Recall that the traditional marketing mix consists of four key elements, often called the 4 Ps: Product, Price, Place, and Promotion.
3. Recognize that 'Product' refers to what the firm offers to satisfy customer needs, 'Price' is how much customers pay, 'Place' is how the product is distributed or delivered, and 'Promotion' involves the communication strategies to inform and persuade customers.
4. Identify that options like profit, revenue, cost, and output relate more to financial and production aspects rather than marketing strategy.
5. Conclude that the correct components of the marketing mix are Product, Price, Place, and Promotion, as these directly relate to how a firm markets its goods or services.