Diya sent an e-mail to Sid stating that she wanted him to organize her wedding. The e-mail mentioned that Sid must accept the offer by replying to the e-mail. He received the e-mail and went to Diya's house and communicated acceptance of the offer. Is Sid's acceptance of offer effective?
What will be an ideal response?
No, Sid's acceptance of offer is ineffective because it is clearly mentioned by the offeror that the acceptance must be made by e-mail. Sid accepted the offer by communicating it to the offeror (Diya) in person instead of communicating it by e-mail. To accept an offer for a unilateral contract, where a promise is exchanged for an act, the offeree must perform the act requested by the offeror. When the act is completed, the contract is created. The offeror may specify (stipulate) in the offer the time, place, or method of communicating acceptance. In such a case, the offeree must comply fully with the offeror's stipulations. Any material deviation makes the attempt to accept ineffective. If the offer merely suggests a method or place of communication or is silent on these points, the offeree may accept within a reasonable time by any reasonable means of communication.
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Describe the "Iron" customer segment discussed by Zeithaml, Rust, and Lemon
What will be an ideal response?
In performing a vertical analysis, the base for cost of goods sold is:
A) total selling expenses. B) net sales. C) total expenses. D) total revenues.
Financial managers are responsible for doing all of the following EXCEPT:
a. project month-by-month flow of funds into and out of the business b. delete the capital budget at the end of the year c. compare the monthly inflows to the monthly outflows d. if funds are short, adjust inflows or outflows if possible and/or look for other sources of funding e. if other funding sources are needed, analyze the alternatives
Concerning the universal functions of marketing, it is true that
A. the functions must be performed in all macro-marketing systems. B. from a micro viewpoint, every firm must perform all the functions. C. responsibility for performing them can be shifted and shared-and some functions can be completely eliminated to reduce costs. D. the functions can be performed by producers or intermediaries-but not by consumers.