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Suppose business executives become very pessimistic and reduce their investment spending. Sketch a diagram that illustrates how this change in opinion affects real GDP.
Reach
Measure of consumers’ exposure to marketing communications; the percentage of the target population exposed to a specific marketing communication, such as an advertisement, at least once.
Frequency
The rate at which an event occurs or is repeated over a specific period of time, often used in statistics, communications, and media studies.
Competitive Parity
A firm’s strategy of setting prices that are similar to those of major competitors. Status Quo Pricing: A competitor-oriented strategy in which a firm changes prices only to meet those of competition.
IMC Budgeting
Involves allocating financial resources across various marketing communication channels as part of an Integrated Marketing Communications strategy.
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