Name and define the four types of utility created by marketing channels.
What will be an ideal response?
Marketing channels create four types of utility: time, place, possession, and form. Time utility refers to making products available when the customer wants them. Place utility is making products available in locations where customers wish to purchase them. Possession utility means that the customer has access to the product to use or to store for future use. Possession utility can occur through ownership or through arrangements that give the customer the right to use the product, such as a lease or rental agreement. Channel members sometimes create form utility by assembling, preparing, or otherwise refining the product to suit individual customer needs.
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When a company discards machinery that is fully depreciated, this transaction would be recorded with the following entry:
a. debit Accumulated Depreciation; credit Machinery b. debit Machinery; credit Accumulated Depreciation c. debit Cash; credit Accumulated Depreciation d. debit Depreciation Expense; credit Accumulated Depreciation
Most companies
a. are not concerned with the management of working capital because cash flows are good. b. strive for a balance between current assets and current liabilities. c. try to maintain protection from the creditors by keeping only a small amount of cash available. d. agree that working capital of $3,000,000 is sufficient for business operations.
What is the marketing term for people, whether they are 80 years or 8 months old, who use products and services purchased for a household?
A. household prospects B. primary buyers C. situational buyers D. a target market E. ultimate consumers
What is a haptic interface?
A. Technology that allows humans to interact with a computer through bodily sensations and movements. B. The viewing of the physical world with computer-generated layers of information added to it. C. A wearable computer with an optical head-mounted display (OHMD). D. A work environment that is not located in any one physical space.