Archer Daniels Midland (ADM) Is a Producer of Food Ingredients

question 163

Multiple Choice

Archer Daniels Midland (ADM) is a producer of food ingredients, sweeteners, cocoa, flours, vegetable oils, and protein products that are used in the manufacture of processed foods. ADM does not make products that are typically sold to final consumers; it makes business-to-business products. However, ADM is a major advertiser on news and public affairs programs that appear on national television networks. The main objective of ADM's television commercials is to build goodwill for the company and to improve relations with current and prospective shareholders. ADM is engaged in:

• A) Product advertising.
• B) Institutional advertising.
• C) Pioneering advertising.
• D) Competitive advertising.
• E) Reminder advertising.

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Definitions:

Differentiated Products

Goods or services that are distinguished from similar products based on quality, brand, design, or features, leading to non-price competition among firms.

Advertising

A marketing strategy involving the public promotion of products, services, or brands through various media channels to attract consumer interest.

Waste Of Resources

The inefficient, ineffective, or unnecessary use of resources resulting in the loss of potential benefits.

Rational Consumers

Individuals who aim to maximize their utility or satisfaction based on their preferences and information when making consumption choices.