Define Promotional Mix

question 9

Essay

Define promotional mix. Discuss personal selling as a component of promotional mix.

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Definitions:

Diminishing Utility

is an economic principle stating that as a person consumes more of a good, the marginal utility of each additional unit decreases.

Aggregate Demand Curve

A curve that shows the relationship between the overall price level in the economy and the total demand for goods and services at that price level.

Demand Curves

Graphs showing the relationship between the price of a good and the quantity demanded by consumers.

Market Price

The equilibrium price determined through the interaction of supply and demand in a competitive market.