__________Is the Phase of an Innovation Stream in Which a Scientific

question 42

Multiple Choice

__________is the phase of an innovation stream in which a scientific advance or unique combination of existing technologies creates a significant breakthrough in performance or function.

• A) Technological discontinuity
• B) Technological substitution
• C) Technological lockout
• D) Technological singularity

Understand the goal of marketing communication to relay the right message to the right audience through the appropriate media channels.

Know the effectiveness of integrated marketing communications and its ability to stimulate consumer purchases.

Understand brand awareness, preference, and top-of-mind awareness as crucial factors in consumer choice.

Appreciate the challenge of measuring IMC effectiveness due to the lagged effect.

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Definitions:

Determinants of Market Demand

Factors that influence the total demand for a product or service in a market, including price, income levels, tastes, and population demographics.

Law of Demand

A principle that states there is an inverse relationship between the price of a good or service and the quantity of it that consumers are willing to purchase.

Determinants of Market Demand

Factors that influence the total quantity of a good or service that consumers in a market are willing and able to purchase at various prices.

Change in Supply

An alteration in the quantity of a product that producers are willing and able to sell in the market, due to factors like changes in cost of production or technological improvements.