Use this information for questions that refer to the Yummy Ice Cream case. Kelly Stich, marketing manager for Yummy Ice Cream Products, is thinking about some of her products and her promotion plans for the coming year. Yummy Ice Cream Products is introducing a new ice cream treat called Planet Savers. This treat uses ice cream produced with environmentally friendly processes that save energy and protect the ozone. Yummy plans to send articles to magazines, local newspapers, and environmental groups that explain the environmentally safer treat. The product also has a unique texture and different flavor.Stich wants to use counter cards and in-store signs to let people know about Cherry Walrus, the company's new flavor. She is also developing sales training materials that will teach ice
cream scoopers in Yummy's ice cream stores to promote the product. Right after Cherry Walrus is introduced, each store will also hand out coupons that are good for one day only.Yummy Mondaes is a product that has been around for 25 years. It is Yummy's take on the classic ice cream sundae, but white-brownie and coffee-flavored crumbles are added to make it extra special. The company sells this product in one-quart and two-quart containers through major grocery store chains. It relies on personal selling and price discounts to retailers to move more of the product. The company does very little consumer promotion for this product.Yummy Fudge-on-a-Stick is a new product of fudge-flavored ice cream on a stick. Yummy plans to sell it through retail grocery stores and is launching an aggressive advertising program that will use television, radio, newspaper, magazines, and the Internet. Most of its promotion will be directed at consumers.Two years ago, the company introduced Yummy Fruit-on-a-Stick, an all-natural frozen fruit product on a stick. The product category has been popular, continues to grow, and is in the market growth stage of the product life cycle. Based on where the product category is in the product life cycle, promotion for Yummy Fruit-on-a-Stick should
A. use reminder advertising.
B. emphasize ways that Yummy Fruit-on-a-Stick is best.
C. build primary demand.
D. be cut back or dropped so that money can be used on products that contribute to customer equity.
Answer: B
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A. MBO B. Reengineering C. Radical innovation D. Continuous improvement E. Productivity
An oil well cost $1,782,500 and is calculated to hold 150,000 barrels of oil. There is no residual value. Which journal entry is needed to record the expense for the extraction of 40,000 barrels of oil during the year? All 40,000 barrels were sold during the year. (Round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)
A) Cost of Goods Sold - Oil Reserve 475,200 Accumulated Depletion - Oil Reserve 475,200 B) Depletion Expense - Oil Reserve 475,200 Oil Revenue 475,200 C) Depletion Expense - Oil Reserve 475,200 Accumulated Depletion - Oil Reserve 475,200 D) Oil Reserve Inventory 475,200 Accumulated Depletion - Oil Reserve 475,200
Every transaction affects at least two accounts. The purchase of land in exchange for cash is recorded with which of the following entries?
a. debit to Land and credit to Accounts Payable b. debit to Cash and credit to Land c. debit to Land and credit to Cash d. debit to Stockholders' Equity and credit to Cash
Michael wanted to build a small princess castle for his daughter in the backyard
He decided to turn it into a do-it-yourself project, so he bought the disassembled parts of the castle from Big Ben Forts Inc However, after the purchase, he found that the manual provided by the company gave vague directions that were hard to understand. He built the castle by following the manual, but after a few days the castle collapsed and injured his daughter who was playing inside. Which of the following actions can Michael take in this situation? A) He can file a negligence lawsuit against the store from which he bought the castle. B) He can file a strict liability lawsuit against Big Ben Forts for failure to warn about the possible dangers of the product. C) He can file a strict liability lawsuit against Big Ben Forts for failure to provide adequate instructions on assembling the product. D) He can sue Big Ben Forts for defects in the packaging of their products.