What are the new concept of marketing and the Four Ps?
What will be an ideal response?
The new concept of marketing, which appeared about 1960, shifted the focus of marketing from the product to the customer. The objective was still profit, but the means of achieving the objective expanded to include the entire marketing mix, or the Four Ps as they became known: product, price, place (channels of distribution), and promotion.
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Tough Steel, Inc. is a processor of carbon, aluminum, and stainless steel products. The firm is considering replacing an old stainless steel tube-making machine for a more cost-effective machine that can meet the firm’s quality standards. The old machine was acquired 2 years ago at an installed cost of $500,000. It has been depreciated under the MACRS’s 5-year recovery period, and has a remaining economic life of 5 years. It can be sold today for $350,000 before taxes, but if the firm decides to keep it, it can be sold for $100,000 before taxes at the end of year 5.
The first option is Machine A, which can be purchased for $600,000, but will require $30,000 in installation costs. This machine would be depreciated under the MACRS’s 3-year recovery period. At the end of its economic life, the machine will have a salvage value of $350,000 before taxes. This machine would require an investment in net working capital of $100,000.
The second option is Machine B, which can be purchased for $550,000, but requires $20,000 in installation costs. This machine would be depreciated under the MACRS’s 5-year recovery period. At the end of its economic life, the machine would have a salvage value of $330,000 before taxes. This machine requires no investment in net working capital. The firm has estimated the following EBIT for all three machines:
a) Determine which machine is more profitable for the company based on the payback period, discounted payback period, net present value, profitability index, internal rate of return, and modified internal rate of return.
Kolthida added up all her expenses for hiring six new logisticians, including advertising costs, relocation costs, and interview costs. She divided the total costs by six to get the ______.
A. new hire performance B. cost per hire C. time required to hire D. yield ratio
In 2009, Larry Summers, former Secretary of the Treasury, observed that "in the past 20-year period, we have seen the 1987 stock market crash. We have seen the Savings & Loan debacle and commercial real estate collapse of the late 80's and early 90's
We have seen the Mexican financial crisis, the Asian financial crisis, the Long Term Capital Management liquidity crisis, the bursting of the NASDAQ bubble and the associated Enron threat to corporate governance. And now we've seen this [global economic crisis], which is more serious than any of that. Twenty years, 7 major crises. One major crisis every 3 years.". How could this happen given the large number of financial and information intermediaries working in financial markets throughout the world? Can crises be averted by more effective financial analysis?
Where does resistance to change come from and how can one reduce this resistance to change?
What will be an ideal response?