Imagine you have the sole marketing rights to a new herbal shampoo that stops hair loss and actually causes new hair growth. You plan to sell your product on an Internet website, which you will advertise on late night television. You are also hoping to obtain free publicity to place stories in men's fashion magazines. You are planning to sell online a 15-ounce bottle for $24.99 plus $7.99 shipping and handling. Using the information provided, identify each element of your marketing mix.
What will be an ideal response?
The shampoo is the product element. The Internet website is the place element. The ads on late night television and the publicity are the promotion element. The price element is the $24.99 price plus the $7.99 for shipping and handling.
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The Calvin-Dogwood Partnership owns inventory that was purchased for $90,000, has a current replacement cost of $85,900, and is priced to sell for $125,000 . At what amount should the inventory be recorded in the accounts of the new partnership if Alexis is to be admitted?
a. $129,100 b. $85,900 c. $90,000 d. $125,000
An inherent risk related to long-lived assets is the incomplete recording of disposals
a. True b. False Indicate whether the statement is true or false
The liability of the pension plan equals the
a. future value of the expected amounts payable to employees. b. present value of the expected amounts payable to employees. c. expected future amounts payable to employees. d. current amounts payable to employees during the next year or operating cycle. e. employees' current benefits.
The traditional formula for determining damages for a violation of the Robinson-Patman Act was to
a. calculate the estimated amount of lost profits. b. determine the difference between the two prices and multiply the difference by the number of units purchased. c. allow a jury to determine the amount of punitive damages without using any particular formula. d. add both prices together and divide by the number of units purchased.