Explain the sequence and stages of the consumer decision journey.
What will be an ideal response?
Answers will vary. The consumer decision journey begins when an advertisement or other stimulus causes a consumer to research a number of products or services to meet his or her needs. Even at this early stage, the consumer may drop a number of items from the potential purchase set. The second phase of the journey begins when the consumer evaluates the alternatives using input from peers, reviewers, retailers, the brand itself, and competitors. At this stage, new brands may be added and options from the initial set may be dropped as the selection criteria shift. The consumer then buys (or doesn't buy) the product and, if he or she enjoys the purchase, may advocate and bond with the brand. This feedback loop of ratings, rankings, and referrals pressures brands to deliver a superior experience on an ongoing basis. Researchers have found that 60 percent of consumers of facial skin care products conduct an online search after a purchase is made. This is part of developing a deeper bond with the skin care product while eliminating cognitive dissonance.
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On June 15, 2015, Jupiter Corporation purchased a machine for $50,000 with an estimated useful life of six years and a residual value of $8,000. The company uses units-of-production depreciation and estimates the machine will last 300,000 units. The machine made 15,000 units in 2015 and 45,000 units in 2016. The accumulated depreciation balance on December 31, 2016, after the adjusting entries
have been posted should be A) $8,400 B) $10,000 C) $11,200 D) $13,333
Call Center Corporation, a U.S. firm, owns property in India. The government of India seizes the property for a proper public purpose and pays Call Center just compensation. This is
a. confiscation. b. defalcation. c. dumping. d. expropriation.
In Excel, the RAND() function generates either a 0 or a 1, purely at random
Indicate whether the statement is true or false
On December 1, Victoria Company signed a 90-day, 6% note payable, with a face value of $15,000. What is the journal entry to record the issuance of the note on December 1?
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