Einal Spring 2020 42. Which of the following is the first stage in creating an effective social media plan? a. Identify the target audience. b. Set social media objectives. c. Listen to customers. d. Define strategies 43. Return on investment (ROI) for a firm is a. the margin of profit earned by the firm inclusive of the taxes payable by the firm. b. the firm's total assets multiplied by net profits after taxes c. a measure of the firm's effectiveness in generating profits with the wailable assets. d. lower than the previous year if the firm has performed better in the market. 44. In which of the following cases is the elasticity of demand expected to be high? a. Substitutes are available. b. A product price is significantly low relative to purchasing power c. Products are not durable. d. The product has only one use 45. Inelastic demand is a situation in which a. an increase or a decrease in price does not significantly affect the demand for a product. b. prices are adjusted over time to maximize a company's revenues c. demand is created for new products by agressive brand awareness campaigns. d. a pricing objective maintains existing prices or meets the competition's prices. 46. The quantity of a product that will be offered to the market by a supplier at various prices for a specified period determines the product's a demand b. supply c. market share d. product share 47. A basic, long-term pricing framework that establishes the initial price for a product and the intended direction for price movements over the product life cycle is called a strategic management b. a price strategy c. a promotional strategy d. advertising strategy Copyright Carga Leming Powered by Cope Page 10 000 Ogo 00 DII F5 F6 F7 FB 59 F10