Final answer:
To increase reach from 1K to 1M targeted impressions, the best approach is to expand targeting criteria. This could mean adjusting demographic, geographic, or psychographic factors to include a broader audience. Other strategies include increasing bid amounts and extending campaign duration, while changes in creative format may improve other metrics but not necessarily reach.
Step-by-step explanation:
To increase a line item's potential reach from 1K to 1M targeted impressions, several strategies can be applied. Option c) Expand targeting criteria is one straightforward approach. This involves broadening the target audience by relaxing the constraints on demographic, geographic, or psychographic parameters. For instance, instead of targeting a specific age group in a single city, the reach could be expanded to include a broader age range or additional cities and regions.
Aside from expanding targeting criteria, strategies a) Increase bid amount and b) Extend flight dates could also contribute to reaching a million impressions. A higher bid may improve the ad's competitiveness in the auction, resulting in more impressions. Extending the duration of the advertisement campaign (flight dates) would naturally provide more time for the ad to accumulate impressions. However, altering the creative format may not necessarily increase reach, but rather could improve engagement or conversion rates.
For monopolistically competitive firms, there are several ways to increase demand for their products outside of advertising. These include improving product quality, introducing new product features, excellent customer service, and other strategies that add value and distinguish their products from competitors.