The Section of the Plan That Describes How You Will

question 22

Multiple Choice

The section of the plan that describes how you will tell potential customers that you have a product or service that can satisfy their demand, to convince those customers to buy from you, and to successfully compete with similar businesses is the __________section.

• A) Financial
• B) Marketing
• C) Executive Summary
• D) Advertising, Public Relations and Promotion Strategies

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Definitions:

Average Total Cost

The total cost of production (fixed plus variable costs) divided by the quantity of output produced.

Marginal Cost

The increase in expense from creating one more unit of a product or service.

Total Cost

The total cost of production, encompassing both variable and fixed expenses.

Average Cost

The total cost of production divided by the number of goods produced, representing the cost on average of producing each unit of output.