Advertising and Promotion Are Both Used to Create Awareness of the Company's

question 10

True/False

Advertising and promotion are both used to create awareness of the company's products, services, and pricing to influence customers to buy.

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Definitions:

Nonprice Determinants

Factors that affect demand or supply but are not related to the price of the good or service, such as consumer preferences or production technology.

Technology

The use of scientific understanding to achieve practical goals, particularly within industrial sectors.

Supply Schedule

A chart that illustrates the correlation between a product's price and the amount available for sale.

Inputs Prices

The prices of the resources used in the production process, including labor, raw materials, and capital.