Which one of the following is controllable variable of marketing management ?

The correct answer is - Price

Key Points

• Price
  • Price is a key component of the marketing mix (4Ps: Product, Price, Place, Promotion) and is a controllable variable in marketing management.
  • Marketing managers can adjust the price based on factors such as market demand, competition, and target audience.
  • Setting the right price is critical for achieving marketing goals like profit maximization, market penetration, and customer satisfaction.
  • Unlike external variables such as competition or consumer behavior, price is directly under the control of the organization.

Additional Information

• Controllable Variables in Marketing
  • These are internal factors that marketing managers can control and optimize to meet business objectives.
  • Examples include:
    • Product: Decisions on quality, features, branding, and packaging.
    • Price: Setting pricing strategies such as discounts, premium pricing, or penetration pricing.
    • Promotion: Advertising, sales promotions, and public relations campaigns.
    • Place: Distribution channels, logistics, and market coverage.
• Uncontrollable Variables in Marketing
  • These are external factors that influence marketing decisions but are beyond the control of the organization.
  • Examples include:
    • Environment: Economic, political, legal, and social conditions.
    • Competition: Actions and strategies of competitors.
    • Consumer Behavior: Preferences, buying patterns, and demographic shifts.