If a Small Business Will Be Using the Services of an Advertising

question 118

Multiple Choice

If a small business will be using the services of an advertising agency, all of the following should be mentioned in the promotion section of the marketing plan EXCEPT

• A) the name of the agency.
• B) the credentials of the agency.
• C) how the agency's employees are compensated.
• D) a brief mention of successful campaigns supervised by the agency.

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Definitions:

Efficient Amount

The optimal level of production or consumption where resources are utilized in the most effective manner without waste.

External Cost

A cost of economic activity not borne by the producer or consumer, but rather by a third party or the environment, often leading to market failure.

Efficient Amount

The quantity of a product or service that achieves a perfect balance between economic efficiency and the satisfaction of all market participants.

Government Intervention

Actions taken by a government to adjust or interfere in the economic affairs of a nation, with the intention of achieving economic or societal objectives.