Brokers and agents usually take possession and title of the goods they handle. Brokers operate in industries characterized by a large number of small suppliers and purchasers. The primary objective of promotional efforts is to increase the demand for a specific product or service. The marketing mix is a subset of the overall promotional mix. Product advertising is the personalized selling of a product or service.
Television is the dominant medium for advertising to local markets.
The advantages of radio advertising include immediacy, low cost, flexibility, practical and low-cost audience selection, and mobility. Sales promotion is another term for advertising and encompasses the same things. Full-cost pricing allows the marketer to average variable costs over the entire line of products being sold by a firm. Demand for a product with close substitutes tends to be inelastic. Price theory concepts are easily applied to practical pricing situations.