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Scenario 16.1
Use the following to answer the questions.
The Toyota Corporation is developing its promotional plan for the coming year and is considering several types of advertising to communicate its messages. Toyota will likely advertise its vehicle, the Venza, on TV, on its website, in major national magazines, and through Facebook. It is possible that the ads could focus on the features of the Venza and its most likely competitor, the Ford Edge. Other forms of advertising that can be considered are ads that feature all of the Toyota brands in a single ad, while mentioning only the Toyota brand and its company's strengths. Finally, Toyota will probably continue to advertise updates of its cash cow brands, the Camry and the hybrid versions of its SUVs.
Refer to Scenario 16.1. Toyota's television advertisements for the Venza are examples of _______.
Penetration Pricing
Setting the price of a new product lower than expected to gain fast market share.
Development Costs
Development costs are expenses associated with the creation and design of new products or services, including research and development.
Breakeven Point
The level of production or sales at which total costs equal total revenue, meaning no net loss or gain is incurred.
Fixed Costs
Costs that do not change with the number of sales made.
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