What Is Being Used by a Store Owner Who Sends

question 57

Multiple Choice

What is being used by a store owner who sends out a text message to her preferred customers announcing the arrival of this season's new clothing?

• A)mobile marketing
• B)social marketing
• C)personal selling
• D)sales promotions
• E)advertising

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Definitions:

Target Costing

A pricing strategy in which the selling price is set first, and then the production cost is reduced to meet the profit margin.

Cost Savings

The reduction in costs achieved through efficient management, production processes, or other savings strategies.

Product Design

The process of ideating, creating, and iterating products that solve users' problems or address specific needs in a given market.

Target Percentage Margin

A financial metric that estimates the desired profit margin a company aims for in setting prices for its products or services.