The Best Way to Reach a Narrowly Defined Group of Customers

question 54

Multiple Choice

The best way to reach a narrowly defined group of customers or a market niche is through:

• A)television advertising and billboards.
• B)personal-selling and targeted direct mail.
• C)advertising and radio advertising.
• D)any form of broadcast media.
• E)transit advertising, billboards, and publicity.

Understand the different forms of business organizations and their characteristics.

Know the primary roles and responsibilities of key financial positions in a corporation.

Comprehend the taxation differences between corporate and non-corporate entities.

Distinguish between ethical and unethical investment practices.

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Definitions:

Federal Trade Commission

A federal agency established to protect consumers and promote competition by preventing anticompetitive, deceptive, and unfair business practices.

Price-Fixing

An illegal agreement among competitors to set prices at a certain level, rather than letting them be determined naturally by supply and demand.

Economic Efficiency

A state in which resources are allocated in a way that maximizes the production of goods and services at the lowest cost, while achieving the highest possible welfare or utility.

Negative Externalities

Costs experienced by third parties due to the actions of others that are not reflected in market prices.