ADVERTISING AND PROMOTION
EXAMPREP COMPLETE QUESTION SET
VERIFIED ANSWERS GUARANTEED TO
PASS
●● The American Advertising Federation (AAF)
Answer: Defines standards for truthful and responsible advertising.
●● externalities
Answer: benefit or harm caused by the sale or consumption of products
to people who are not involved in the transaction and didn't pay for the
product
●● added value
Answer: the increase in worth of a product or service as a result of a
particular activity. in the context of advertising, the added value is
provided by the communication of benefits over and above those offered
by the product itself
●● How does advertising affect competition between firms?
Answer: It restricts competition because small companies lack the
immense advertising budget of large firms.
, ●● primary demand
Answer: consumer demand for a whole product category
●● selective demand
Answer: consumer demand for the particular advantages of one brand
over another
●● The freedom to advertise promotes
Answer: the creation of new brands and the improvement of old ones.
●● abundance principle
Answer: states that an economy produces more goods and services than
can be consumed. in such an economy, advertising serves two important
purposes: it keeps consumers informed of their alternatives , and it
allows companies to compete more effectively for consumer dollars
●● There is a variety and assortment of breakfast cereals available
exceeds the amount that can be consumed by customers. This leads to
greater and more effective competition among breakfast cereal
producers. This scenario demonstrates the _____
Answer: Abundance principle
●● puffery
EXAMPREP COMPLETE QUESTION SET
VERIFIED ANSWERS GUARANTEED TO
PASS
●● The American Advertising Federation (AAF)
Answer: Defines standards for truthful and responsible advertising.
●● externalities
Answer: benefit or harm caused by the sale or consumption of products
to people who are not involved in the transaction and didn't pay for the
product
●● added value
Answer: the increase in worth of a product or service as a result of a
particular activity. in the context of advertising, the added value is
provided by the communication of benefits over and above those offered
by the product itself
●● How does advertising affect competition between firms?
Answer: It restricts competition because small companies lack the
immense advertising budget of large firms.
, ●● primary demand
Answer: consumer demand for a whole product category
●● selective demand
Answer: consumer demand for the particular advantages of one brand
over another
●● The freedom to advertise promotes
Answer: the creation of new brands and the improvement of old ones.
●● abundance principle
Answer: states that an economy produces more goods and services than
can be consumed. in such an economy, advertising serves two important
purposes: it keeps consumers informed of their alternatives , and it
allows companies to compete more effectively for consumer dollars
●● There is a variety and assortment of breakfast cereals available
exceeds the amount that can be consumed by customers. This leads to
greater and more effective competition among breakfast cereal
producers. This scenario demonstrates the _____
Answer: Abundance principle
●● puffery
