One Simple Method Used to Judge an Advertising Agency's Creative

question 197

Multiple Choice

One simple method used to judge an advertising agency's creative reputation is to:

• A)contact the company's competition.
• B)ask for a list of awards the company has won.
• C)conduct a shootout.
• D)review the most recent media buys the agency has made.

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Definitions:

Average Revenue

The amount of income generated per unit of output, calculated by dividing total revenue by the number of units sold.

Average Total Costs

The total costs of production (fixed and variable costs) divided by the number of units produced, showing the cost per unit.

Pure Monopoly

A market structure in which a single seller controls the entire supply of a product or service, and therefore can manipulate prices and conditions of sale.

Close Substitutes

Products or services that are so similar that a consumer can easily replace one with another, often affecting consumer choice and market competition.