Answer:
price element of marketing mix
Explanation:
Price can be defined as the cost of a commodity which consumers pay for. Marketers must relate the price to the internal and external value of the items, but they must also consider the cost of production, the seasonal reductions and the prices of the rivals.
Business executives can raise the price in some cases to make a product look more like a luxury or lower the price so that more buyers will buy the product. Thus, from the above we can conclude that the correct option is price element.
