Final Answer:
GDP represents the total value of all goods and services produced within a country's borders, making it a crucial measure of its economic performance for marketers. Thus, the correct answer is option c) Gross Domestic Product.
Step-by-step explanation:
Marketers rely on Gross Domestic Product (GDP) figures to plan their yearly budgets. GDP is a comprehensive measure of a country's economic performance, representing the total value of all goods and services produced within its borders. It serves as a key indicator of the overall economic health and allows marketers to gauge the purchasing power and potential market size of a country. By understanding the GDP, marketers can make informed decisions about resource allocation, pricing strategies, and market expansion plans, ultimately optimizing their budgets for the economic conditions of a specific region.
GDP consists of the sum of consumption, investment, government spending, and net exports, providing a holistic view of economic activities. For marketers, this data is crucial as it helps them identify trends, assess consumer confidence, and anticipate demand fluctuations. By aligning their strategies with the economic landscape reflected in GDP figures, marketers can adapt to changing market conditions, seize opportunities, and mitigate risks.
Thus, the correct answer is option c) Gross Domestic Product.