Reference: 16-03 Figure 16-4

question 55

Multiple Choice

Reference: 16-03
Figure 16-4

-In Figure 16-4, line "A" shows that__________ , an element of the promotion mix, is highest in importance in the purchase stage of the buying decision.

• A)personal selling
• B)advertising
• C)sales promotion
• D)public relations

---

Definitions:

Consumer Surplus

The rift between the financial input consumers are willing to make for acquiring a good or service and the actual amount they spend.

Demand

Represents the quantity of a good or service that consumers are willing and able to purchase at various prices over a given period.

Consumer Surplus

The contrast between the overall amount consumers are willing to pay for a good or service and the total they actually pay.

Supply

The total amount of a good or service that producers are willing and able to sell at a given price over a certain period.