The First Decision in Developing the Promotion Program Is to

question 229

Multiple Choice

The first decision in developing the promotion program is to

• A) set the budget.
• B) state the mission.
• C) identify the target audience.
• D) select the appeal.
• E) select the media.

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Definitions:

Short-Run Condition

A period in which at least one input is fixed and firms cannot fully adjust to new market conditions.

Shutting Down

A short-term decision by a firm to cease production when the market price is below variable costs, incurring losses only equal to fixed costs.

Total Revenue

The overall amount of money generated by a business from the sale of its goods or services.

Long-Run Equilibrium

A state in which supply and demand are balanced, and all firms in the industry are earning normal profits in the long term.