Explain the new marketing concept for entrepreneurs.
What will be an ideal response?
ANSWER: The new marketing logic requires a fundamental rethinking of the old rules that applied in a world of stability and control. Today, transactions are faster and more dynamic than in the past and happen in real time. In a demand-based economy, entrepreneurs realize that the customer is in control and the driver of decisions. This fact requires a reconceptualization of the marketing mix from customer-centric to customer-made. To illustrate this major rethinking in marketing, we must shift from the 4Ps to the 4Cs:
From Product … to Cocreated
From Promotion … to Communities
From Price … to Customizable
From Place … to Choice
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The Marino Company has provided you the following information pertaining to its defined benefit pension plan that was adopted on January 1, 2018:The service cost was $950,000 during 2018 and $1,045,000 during 2019. The prior service cost amortization each year was $290,000. The contribution to the pension plan was $1,500,000 on December 31, 2018 and $1,800,000 on December 31, 2019. The actuarially determined discount rate and the expected return on plan assets was 10%. The actual return on plan assets was 9.5%. Retirement benefits pertaining to years of service prior to 2018 were granted to the employees. The prior service cost is being amortized over the remaining ten-year life of the employees. What is the pension expense for the year ended December 31, 2018?
A. $1,380,000 B. $950,000 C. $1,240,000 D. $1,530,000
Responsibility reports reflect the flow of information from operational units to top management
Indicate whether the statement is true or false
A separate section of the income statement reporting information about discontinued operations is included
a. only if the sale resulted in a loss. b. in every income statement prepared in accordance with the GAAP. c. any time a major business asset is sold. d. if a firm sells, during the period, or plans to sell, during the next period, a major division or segment of its business. e. if a firm has sold during the previous period, or plans to sell during the next period, a major division or segment of its business.
Which sentence expresses numbers correctly?
A) We purchased 8 12-packs of soda for the party. B) We purchased eight 12-packs of soda for the party. C) We purchased 8 twelve-packs of soda for the party.