Final answer:
Public relations is the promotional mix element most closely associated with fostering goodwill and understanding with various constituents inside and outside the company. Option C is correct.
Step-by-step explanation:
The promotional mix element most closely associated with activities designed to foster goodwill and understanding with various constituents both inside and outside the company is public relations (option C).
Public relations involves managing the company's image and reputation through communication and interaction with the public, customers, employees, investors, and other stakeholders. It includes activities such as press releases, media relations, sponsorships, community events, and social responsibility initiatives.
The promotional mix element most closely associated with activities designed to foster goodwill and understanding with various constituents both inside and outside the company is C) public relations.
Public relations involves managing the communication between an organization and its publics to build, manage, and sustain its positive image. Examples of public relations activities include press releases, public events, corporate social responsibility programs, and handling crisis communications.