Provide an example of a company that is adapting and thriving in these changing times. Be specific about how it has adapted its marketing strategy to adjust to the times
What will be an ideal response?
Student responses will vary, but may include the American Express, BMW, Corning, or P&G examples from the text. Look for information about the marketing strategy (4 Ps, 4 As) in the response.
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Bill, a local inventor, developed a diet pill that he believes will solve the obesity problem in the
United States. Bill wants to create a new company, 50% owned by Bill and 50% owned by a major drug company. Although he believes the pills are safe, Bill is concerned about liability if someone becomes sick or dies. The best form of business organization for the new company is A) limited liability company with Bill and the drug company owning equal shares. B) general partnership with Bill and the drug company as equal partners. C) sole proprietorship with Bill as owner and the drug company as creditor. D) S-type corporation with Bill and the drug company owning equal shares.
A firm has arranged for a lockbox system to reduce collection time of accounts receivable. Currently the firm has an average collection period of 43 days, an average age of inventory of 50 days, and an average payment period of 10 days
The lockbox system will reduce the average collection period by 3 days by reducing processing, mail, and clearing float. The firm has total annual outlays of $15,000,000 and currently pays 9 percent for its financing.(Assume a 360-day year.) (a) Calculate the cash conversion cycle before and after the lockbox system. (b) Calculate the savings in financing costs from the lockbox system.