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Scenario 11-1
After a series of public relations setbacks, Japanese automaker Toyota unveiled a new company slogan in 2010. The slogan read, "Drive a Toyota. You'll never stop." The company hoped the new slogan would once again instill confidence in consumers, many of whom had grown weary of the brand after a number of massive recalls. The company chose to go with the slogan after turning down a number of others, including, "Toyota Puts the Pedal to the Metal. And keeps it there," and "Toyota. The Last Car You'll Ever Drive." The new slogan was featured in all of the company's advertisements.
-(Scenario 11-1) To create ads featuring the new company slogan,Toyota assembles a creative team of individuals who will focus solely on designing the new advertisements.Toyota realizes that it will need to have a strong Internet and social media presence.In order to effectively utilize these outlets,Toyota should consider hiring a(n) :
Advertising Expenditures
The amount of money that is spent on promoting and selling a product or service through various advertising channels.
Profit Functions
Profit functions describe the mathematical relationship between a firm's profits and its inputs or production levels, showing how profits change as inputs or outputs vary.
Campers' Utility
The subjective satisfaction or happiness derived by individuals from camping activities and the experiences associated with them.
Externality
A consequence of an economic activity experienced by unrelated third parties; it can be either positive or negative.
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