________ Involves the Use of Innovative,low-Cost Marketing Efforts to Attract

question 57

Multiple Choice

________ involves the use of innovative,low-cost marketing efforts to attract customer attention.

• A)Trade promotion
• B)Guerrilla marketing
• C)Creative selling
• D)Institutional advertising

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Definitions:

Production Resource

Resources used in the creation of goods and services; these include land, labor, capital, and entrepreneurship.

Market Price

The present cost for purchasing or selling a product or service in a market setting.

Influence

Influence is the capacity to have an effect on the character, development, or behavior of someone or something, or the effect itself.

Perfectly Competitive Market

A perfectly competitive market is one in which there are many buyers and sellers, all of whom have complete market information, and where the goods being traded are identical, leading to one market price.