The Traditional Promotion Mix for a Firm Consists of the

question 247

Multiple Choice

The traditional promotion mix for a firm consists of the

• A) strategic mix of price, product, place, and advertising.
• B) various types of advertising media the firm selects to reach each specific target market.
• C) marketing intermediaries employed by the firm to create a supply value chain.
• D) advertising, personal selling, public relations, and sales promotion used to reach a target market.

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Definitions:

Quantum Meruit

A legal principle that allows a party to receive a reasonable payment for services provided when no specified compensation is involved.

Past Consideration

Something completed before an agreement is made; it is not valid consideration.

Early Repayment

The act of paying off a loan or mortgage before the agreed-upon due date, often resulting in financial penalties.

Equitable Estoppel

A legal defense tool that prevents a party from taking back a promise or from arguing against facts they previously admitted to, when another party has relied on that promise or those facts.