Which Function of an Organization Oversees Advertising and Promotion

question 33

Multiple Choice

Which function of an organization oversees advertising and promotion?

• A) human resources
• B) marketing and sales
• C) production (operations)
• D) research and development

Understand the concept of price elasticity of demand and supply.

Identify factors that affect the elasticity of demand and supply.

Differentiate between elastic and inelastic demand and supply.

Recognize the implications of elasticity on pricing and revenue.

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Definitions:

Organizational Growth

The process of an organization enlarging or expanding its operations, activities, and impact.

Diversification

A strategy of reducing risk by owning a variety of investments or business operations across different industries or categories.

Mechanistic Structures

Describes organizational forms that are highly bureaucratic, with strict rules, procedures, and a clear hierarchy of authority.

Formalization

The process of creating or implementing formal rules, procedures, and structures within an organization to standardize operations and behaviors.