Final Answer:
Radio is a low-cost medium relative to TV is true about radio as an advertising medium . Therefore, the correct option is 3) Radio is a low cost medium relative to TV.
Step-by-step explanation:
The statement that accurately describes radio as an advertising medium is that it is a low-cost medium relative to TV (option 3). Radio advertising typically incurs lower production costs than TV commercials and has more affordable airtime rates, making it a cost-effective choice for advertisers seeking broad reach without the expenses associated with television campaigns.
While radio does cater significantly to local markets due to its localized broadcasting, it's not accurate to claim it has solely evolved into a local advertising medium (statement 1). Additionally, radio commercials, unlike the statement suggests, aren't ideal for long copy as they rely on concise messaging due to their auditory nature.
Although radio allows for creative storytelling, detailed information is usually conveyed succinctly to retain audience attention (statement 2). Hence, the third statement stands as the most accurate depiction of radio advertising's cost-effectiveness relative to TV. Therefore, the correct option is 3) Radio is a low cost medium relative to TV.