Examlex
The IMC communication process includes all of the following EXCEPT
Substitutes
Products or services that can replace or serve as alternatives to another, often influencing consumer choices and market competition.
Income Elasticity
A measure of how much the quantity demanded of a good responds to a change in consumers' income, holding all other factors constant.
Normal Good
A good for which a rise in income increases the demand for that good—the “normal” case.
Total Revenue
The total income received by a firm from selling its goods or services, calculated as the unit price times the quantity sold.
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