Final answer:
The most effective use of a $1,000,000 advertising budget for the Mountain Bike market would likely be focusing on social media or a diversified mix of advertising channels, taking into account the target demographics and the effectiveness of various media platforms.
Step-by-step explanation:
In determining the most effective use of a Total Advertising Budget of $1,000,000 for the Mountain Bike market, we consider various advertising channels and their impact. According to LibreTexts and other industry data, a large portion of advertising spending is traditionally allocated to television because it has been a primary medium for reaching a broad audience since the 1950s. However, the effectiveness of different advertising mediums can vary based on demographic information and trends. For instance, older demographics might respond better to TV and radio ads, while a younger audience might be more effectively targeted through social media and internet strategies. With the growth of mobile devices, internet and social media advertising proves increasingly effective and cost-efficient, especially when targeting younger consumers. Thus, for the Mountain Bike market, which likely has a diverse and possibly younger consumer base, option (c) focusing on social media might be perceived as the most effective strategy for using the advertising budget, since it allows for targeted and interactive engagement with potential customers. However, without specific demographic information, it would be prudent to consider a diversified advertising mix that reflects the variegated preferences of a potential customer base, which aligns with option (b) equal distribution across all channels.