According to the Textbook, What Is the Difference Between the Functions

question 9

Multiple Choice

According to the textbook, what is the difference between the functions of public relations and marketing?

• A) marketing professionals adhere to higher standards of ethics and responsibility than public relations professionals
• B) marketing professionals generally have more education and professional training than public relations professionals
• C) public relations professionals must possess a license, while marketing professionals do not
• D) public relations deals with a wide range of publics, while marketing deals with a narrow range
• E) none of the above; the terms "public relations" and "marketing" are synonymous

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Definitions:

Monopolistically Competitive Industry

A market structure where many firms sell products that are similar but not identical, allowing for competition based on factors other than just price.

Monopolistic Competitor

A firm in a market structure where many companies sell products or services that are similar but not identical, allowing for significant differentiation and competition.

Barriers to Entry

Factors that prevent or hinder potential competitors from entering a market or industry sector.

Close Substitutes

Products or services that can serve almost the same purpose or fulfill the same need, allowing consumers to switch easily between them.