Discuss the ways in which publicity can play an effective role in the marketing mix
What will be an ideal response?
Raising advertising awareness is difficult because of competitive noise and clutter. Marketers use product publicity to:
• introduce revolutionary new products (by increasing awareness).
• eliminate distribution problems with retail outlets (by creating consumer demand).
• save money or promote a product on a budget.
• explain a complicated product.
• tie the product to a unique representative.
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The journal entry a company uses to record accrued vacation privileges for its employees at the end of the year is
a. debit Vacation Pay Expense; credit Vacation Pay Payable b. debit Vacation Pay Payable; credit Vacation Pay Expense c. debit Salary Expense; credit Cash d. debit Salary Expense; credit Salaries Payable
Which of the following is/are true?
a. Cost is the economic sacrifice made to acquire goods or services. b. When the good or service acquired has reliably measurable future benefits to a firm, the cost is an asset. c. When the firm consumes the good or service, the cost is an expense. d. All of the above are true. e. None of the above are true.