110. Discuss promotion strategies in the context of a marketing mix
What will be an ideal response?
ANSWER: Promotion includes advertising, public relations, sales promotion, and personal selling. Promotion's role in the marketing mix is to bring about mutually satisfying exchanges with target markets by informing, educating, persuading, and reminding them of the benefits of an organization or a product. A good promotion strategy, like using a beloved cartoon character such as Sponge-Bob Square Pants to sell gummy snacks, can dramatically increase sales. Each element of this Pâ€"promotionâ€"is coordinated and managed with the others to create a promotional blend or mix.
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A strategy for company growth that involves increasing sales to current market segments without changing the product is known as ________
A) market development B) market differentiation C) market penetration D) product development E) diversification
Cost and management accounting
a. require an entirely separate group of accounts than financial accounting uses. b. focus solely on determining how much it costs to manufacture a product or provide a service. c. provide product/service cost information as well as information for internal decision making. d. are required for business recordkeeping as are financial and tax accounting.
A ________ is recorded when inventory damage or obsolescence occurs.
What will be an ideal response?
Explain why a company's strategy is really a collection of strategies.
What will be an ideal response?