To Communicate with Consumers, a Company Can Use One or More

question 46

Multiple Choice

To communicate with consumers, a company can use one or more of five promotional alternatives.In Figure 15-2 above, the position labeled "A" refers to the _________ element of

• A)advertising
• B)personal selling
• C)public relations
• D)sales promotion
• E)direct marketing

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Definitions:

Short Run

A time period in economics during which at least one input, such as plant size, is fixed and cannot be altered.

Profit Maximization

The procedure through which a business identifies the pricing and production volume that yields the highest earnings.

Market Price

The price at which a good or service is offered in the marketplace.

Profit Maximization

A rephrased definition: The strategy or aim of a firm to achieve the highest profit possible, usually by adjusting outputs, prices, or production costs.