Identify and define the traditional four Ps. Also identify the new four Ps and the reason for developing the new interpretation
What will be an ideal response?
The traditional four Ps are:
1. Product (product variety, quality, design, features, brand name, packaging, sizes, services, warranties, returns)
2. Price (list price, discounts, allowances, payment period, credit terms)
3. Promotion (sales promotion, advertising, sales force, public relations, direct marketing)
4. Place (channels, coverage, assortments, locations, inventory, transportation).
However, given the breadth, complexity, and richness of marketing, as exemplified by holistic marketing, these 4 Ps are not the whole story anymore. Updating them to reflect the holistic marketing concept, researchers in this field arrived at a more representative set that encompasses modern marketing realities: people, processes, programs, and performance.
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An extraordinary item must be either unusual in nature or infrequent in occurrence
a. True b. False Indicate whether the statement is true or false
Clayborn Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on May 31, its Cash account shows a debit balance of $18,525. Clayborn's May bank statement shows $17,000 on deposit in the bank. Determine the adjusted cash balance using the following information: Deposit in transit$5650?Outstanding checks$4900?Bank service fees, not yet recorded by company$40?A NSF check from a customer, not yet recorded by the company$735?The adjusted cash balance should be:
A. $17,775 B. $17,750 C. $18,485 D. $12,100 E. $22,650
In general, service providers are more likely to visit corporate customers at their premises than to visit individuals in their homes
Indicate whether the statement is true or false
Convenience products, though inexpensive, require considerable shopping effort by buyers
Indicate whether the statement is true or false a. True b. False