Give the characteristics of shopping products, specialty products, and convenience products. Illustrate those characteristics with examples of products that fit the categories.
What will be an ideal response?
Convenience products are relatively inexpensive, frequently purchased items for which buyers want to exert only minimal effort, such as chewing gum or newspapers. Shopping products are items for which buyers are willing to expend considerable effort on planning and making the purchase, such as appliances and furniture. Specialty products are items with special or unique characteristics for which a group of buyers is willing to expend considerable purchasing effort, such as sports cars or antique items.
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At a sales volume of 20,000 units, Choice Corporation's sales commissions (a cost that is variable with respect to sales volume) total $132,000. To the nearest whole dollar, what should be the total sales commissions at a sales volume of 18,400 units? (Assume that this sales volume is within the relevant range.)
A. $126,720 B. $121,440 C. $132,000 D. $143,478
Tom's business has environmental databases that are readily available and cost-effective, but his vice president of operations thinks they need to develop a database for a new project. What would you advise them to do to make it the simplest, easiest, and most effective way to have that needed database?
A. Purchase it. B. License it from others. C. Patent it. D. Acquire the owner of the technology. E. Form a joint venture.
Illegality, such as a note for gambling, is a universal defense
Indicate whether the statement is true or false
Long-term loans and the sale of corporate bonds are common sources of equity financing.
Answer the following statement true (T) or false (F)