Price is one of the major factors affecting consumers’ purchase decisions. Price is more important for consumers in developing countries than consumers in developed countries. As the level of development of countries increases, the importance given to price decreases. Non-price factors such as consumer tastes or preferences are more important in developed countries.

Price differs from other marketing mix elements due to some reasons. Firstly, it produces revenue while others create a cost. Companies bear the costs of other marketing mix elements to create value for consumers while price captures value from them. Secondly, price is the most flexible element of the marketing mix. In other words, a change in price is reflected on demand immediately. Therefore, it is a strategic tool used by companies. However, companies should be careful while using price as a strategic tool because of its psychological effects on consumers. Lastly, price has a negative relationship with demand. This means that if the price of a product increases, the demand of it decreases and vice versa. Besides these differences, price should be consistent with other marketing mix elements. The correct answer is D.