All of the Following Are Methods That Firms Use to Set

question 48

Multiple Choice

All of the following are methods that firms use to set their promotion budgets EXCEPT:

• A)objective and task.
• B)lost horse forecast.
• C)competitive parity.
• D)percentage of sales.
• E)all you can afford.

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Definitions:

Elasticity of Demand

A measure of how the quantity demanded of a good or service changes in response to a change in its price.

Senior-Citizen Discounts

Reduced prices offered to elderly customers, typically those who have reached a specified age, as a benefit or marketing tool.

Cash Rebates

A refund or discount on the purchase price of a product or service, often used as a promotional tactic by retailers and manufacturers.

Software Upgrade

The process of replacing an existing software with a newer or better version to improve functionality or fix issues.