The Text Lists Six Main Objectives of Public Relations Efforts

question 117

Essay

The text lists six main objectives of public relations efforts.List three of these objectives.Then give an example by identifying a company that sells a product you purchase or provides a service you use.Explain how this company could try to achieve each of the four objectives.

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Definitions:

Economic Profit

The surplus left after subtracting total costs from total revenue, taking into account both explicit and implicit costs.

Total Revenue

The overall amount of money generated by a business from its sales of goods or services, calculated by multiplying the selling price by the quantity sold.

Maximizes Profits

The strategy employed by firms to achieve the highest possible profit from their operations, often through increasing revenue, reducing costs, or both.

Monopolistically Competitive

A market structure characterized by many firms selling products that are substitutes but differentiated from one another.