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Select One of the Ways of Innovative Thinking, Explain It

question 70

Essay

Select one of the ways of innovative thinking, explain it, and give an example of a business idea this type of thinking might generate.


Definitions:

Promotion-to-Sales Ratio

A metric used to measure the effectiveness of a promotional campaign by comparing the cost of the promotion to the generated sales.

Break-Even Point

The financial point at which costs equal income, with no net loss or gain.

ROI

Return on Investment; a financial metric used to evaluate the efficiency or profitability of an investment or compare the efficiency of several investments.

Promotion Expenditures

Funds allocated by a business to carry out promotional activities aimed at boosting sales and enhancing brand visibility.

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