Write a note on contingency plans
What will be an ideal response?
Contingency plans are alternative courses of action to be implemented if (or when) things go wrong. Some people
refer to them as backup plans. Contingency plans should be prepared as part of the overall marketing planning
process, and approved by executive management before the project launches. If disaster strikes, the resulting
emotional and turbulent environment will make it difficult to get alternative plans approved then, so it is essential
that plans be prepared and approved in advance.
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McDonald's arches create shared meaning across consumers in the United States and around the world, which mean they exhibit:
A) duality B) stimulus codability C) brand endurance D) brand equity
A ________ is the subjective mechanism through which people evaluate and make sense out of situations, leading them to pursue or avoid subsequent actions.
Fill in the blank(s) with the appropriate word(s).
Which of the following types of transactions could be an accrual adjustment?
A. An increase to a liability account and an increase to a revenue account. B. An increase to an asset account and an increase to a liability account. C. An increase to a liability account and an increase to an expense account. D. An increase to a revenue account and an increase to an expense account.
Hurst Company sells hand-sewn shirts for $40 per shirt. It incurs monthly fixed costs of $7,000. The contribution margin ratio is calculated to be 50%. What is the breakeven point in units? (Round your answer up to the nearest whole unit.)
A) 175 units B) 3,500 units C) 80 units D) 350 units