American Express is dissatisfied with the degree of penetration of its Gold Rewards Plus card in the U. S. market. Marketing managers at American Express feel that the firm needs to increase advertising to small entrepreneurial businesses to encourage more acceptance of the card for use in purchasing office supplies and durable goods like computers and office furniture. American Express feels that to accomplish the goal of increased penetration in this sector, the budget should be based on communications objectives aimed at certain target markets. (Scenario 8-4) The marketers are keenly aware that many budgeting methods fail to address the objectives originally set and relate these to the dollars to be spent. Which budgeting technique does American Express ultimately most likely decide to use, based on this awareness and the information in this scenario? share-of-market approach objective-and-task approach percentage-of-sales approach share-of-voice approach

Objective and tasks approach

Explanation:

Noteworthy here is the fact that American Express has an objective in mind, which is for entrepreneurial businesses to encourage more acceptance of the card for use in purchasing office supplies and durable goods like computers and office furniture.

They also do not want to fail to achieve their objectives like other marketers, so they most likely will employ the objective tasks approach method so as to avoid the shortcomings of other marketers as well as to reach their goals.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know