Final answer:
Cross-promotion results in expanded outreach, diversity, and cost-effectiveness in business ventures, especially in events. It encourages competition and innovation, leading to economic gains and benefits for the consumer.
Step-by-step explanation:
Cross-promotion has the potential for a major benefit because it allows for expanded outreach by marketing to multiple networks, which can lead to a diversity of attendees in event planning and implementation. By combining resources with partnering organizations, cost efficiency is improved, which can be more cost-effective and increase the overall value for both parties involved. Additionally, cross-promotion can lead to innovation and enhancement in the variety and quality of goods available to consumers, by encouraging competition and scale economies. International agreements and trade can amplify these benefits, providing a counterweight to protectionist measures and promoting global awareness of diverse products, potentially leading to an overall economic gain for a nation. Therefore, cross-promotion not only serves individual businesses but can also contribute to broader economic benefits.