The "Total Profit" Approach to Evaluating Possible Product-Market Strategic Plans

question 302

Multiple Choice

The "total profit" approach to evaluating possible product-market strategic plans:

• A) is the best approach to use.
• B) cannot be used to compare possible plans unless they are very similar.
• C) may support a plan that is not the most profitable in the short run.
• D) requires only sales forecasts for the life of possible plans.

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Definitions:

Public Relations

The practice of managing and disseminating information from an organization to the public to shape its image.

Integrated Marketing Communications

The coordination and integration of all marketing communication tools, avenues, and sources within a company into a seamless program designed to maximize the impact on customers and other stakeholders.

Promotional Theme

is a central message or idea that is used consistently across marketing materials and campaigns to promote a product, service, or event.

Brand Awareness

How well consumers recognize and understand the unique characteristics or reputation of a specific brand of products or services.