Quiz_136 - ESSAY. 127 Answer

Quiz_136 - ESSAY. 127 Answer

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ESSAY. Write your answer in the space provided or on a separate sheet of paper. 127) What is the difference between the termsʺmarketingʺandʺadvertisingʺ?129) If buyers of a monopolistically competitive product feel the products of different sellers arestrongly differentiated, then the demand for each sellerʹs product is Answer: Marketing consists of all the activities that are necessary for a firm to sell a product to a consumer.Marketing is not limited only to advertising. Product placement and defending a brand name can also beincluded under marketing.Diff: 2Page Ref: 445-446/445-446Topic: MarketingLearning Outcome: Micro 15: Discuss the role of differentiation in monopolistic competition in comparison to other marketconditionsAACSB: Reflective Thinking128) Draw a graph that shows the impact on a firmʹs profit when it increases spending on advertising and theincreased advertising has no effect on the demand for a firmʹs product.Answer:Diff: 2Page Ref: 446/446Topic: AdvertisingLearning Outcome: Micro 15: Discuss the role of differentiation in monopolistic competition in comparison to other marketconditionsAACSB: Analytic SkillsMULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.129)Diff: 2Page Ref: 446-447/446-447Topic: Factors that Determine SuccessLearning Outcome: Micro 15: Discuss the role of differentiation in monopolistic competition in comparison toother market conditionsAACSB: Analytic Skills43
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