The belief that advertising equals___________reflects traditional economic thinking that views advertising as a way to change consumers' tastes, lower their sensitivity to price, and build brand loyalty among buyers of the advertised brand.

Question

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The statement reflects the traditional economic thinking that advertising is a way to build market power, which refers to a company's ability to influence the market through its degree of control over price, supply, demand, and other factors. Companies use advertising to build brand loyalty and reduce consumers' sensitivity to price, which gives them more market power to charge higher prices and increase profits. This reflects a view of advertising as a tool for market power rather than as a reflection of materialism, economies of scale, or competitive advantage.

The Belief That Advertising Equals___________reflects Traditional Economic Thinking That Views