How have department stores responded to increased competition by specialty stores and lower-priced discounters?
What will be an ideal response?
Many department stores have added promotional pricing to meet the threat; in addition, they have stepped up the use of store brands and single-brand "designer shops" to compete with specialty stores. Department stores are also trying mail order, telephone, and Web selling.
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Which of the following is an example of a combination of sales promotions and direct marketing?
A) a company giving discounts on their product prices in order to gain a brand image B) a company releasing a nationwide television ad about every buyer having a chance to win a lottery prize C) a company holding a press conference to talk about their new product D) a company's sales representatives meeting customers directly to present customized offerings E) a company sending an e-mail to a customer about a discount on a product during a holiday season
Physical counts of inventory:
A. Are not necessary under the cost-to benefit constraint. B. Must be taken at least once a month. C. Are not necessary under the perpetual system. D. Requires the use of hand-held portable computers. E. Are necessary to adjust the Inventory account to the actual inventory available.
Many people believe that advertising is synonymous with marketing.
Answer the following statement true (T) or false (F)
June 1 Beginning Inventory 50 units @ $25 7 Purchase 40 units @ $30 18 Sale 60 units 22 Purchase 10 units @ $35 29 Sale 5 units Assuming that a perpetual inventory system is used, what is the cost of goods sold on a LIFO basis? (Round answer to nearest dollar.)
a. $1,100 b. $1,700 c. $1,875 d. $1,779