The Probability That a New Advertising Campaign Will Increase Sales

question 31

Multiple Choice

The probability that a new advertising campaign will increase sales is assessed as being 0.80.The probability that the cost of developing the new ad campaign can be kept within the original budget allocation is 0.40.If the two events are independent,the probability that the cost is kept within budget or the campaign will increase sales is:

• A)0.20
• B)0.32
• C)0.68
• D)0.88

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Definitions:

Marketing Objective

A specific goal that a company aims to achieve through its marketing efforts, such as increasing sales, brand recognition, or market share.

Marketing Plan

A strategic roadmap businesses use to organize, execute, and track their marketing strategy over a set period of time.

Nobel Prize

Prestigious international awards given annually in several categories including physics, chemistry, medicine, literature, and peace.

Human Resource Strategy

A plan that outlines how a company will utilize its human resources to achieve its business objectives, including talent acquisition, development, and management.