Luke Was Interested in Developing a Communication Budget for the Holistic

question 60

Multiple Choice

Luke was interested in developing a communication budget for the holistic vitamin shop he will be opening in 30 days. He is planning a few promotional sales and will advertise through local newspapers. With the available information, what method would be best for Luke to pursue to develop his communication program?

• A) Affordable method
• B) Objective-and-task method
• C) Percentage-of-sales method
• D) Competitive-parity method
• E) Developmental method

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Definitions:

Relatively Elastic

Describes a situation in which the quantity demanded of a good or service changes significantly due to a change in its price.

Time Interval

A specific duration or period between two points or events in time.

Substitutes

Substitutes are goods or services that can replace each other in usage, providing consumers with alternative choices when purchasing.

Price-Elastic

Descriptive of demand that is highly sensitive to changes in price, meaning a small price change can cause a significant change in the quantity demanded.