Briefly explain the major sales promotion tools
What will be an ideal response?
Consumer promotions include a wide range of tools—from samples, coupons, refunds, premiums, and point-of-purchase displays to contests, sweepstakes, and event sponsorships. Marketers also promote their brands through event marketing. They can create their own brand-marketing events or serve as sole or participating sponsors of events created by others.
Trade promotions can persuade resellers to carry a brand, give it shelf space, promote it in advertising, and push it to consumers. Manufacturers often have to offer price-offs, allowances, buy-back guarantees, or free goods to retailers and wholesalers to get products on the shelf and, once there, to keep them on it.
Business promotions are used to generate business leads, stimulate purchases, reward customers, and motivate salespeople. Business promotions include many of the same tools used for consumer or trade promotions.
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For most products, there is an acceptable price range, not a single ideal price
Indicate whether the statement is true or false
Jenkins, Inc. builds custom machines for manufacturers using robotic equipment. In 2016, the company decided to change from straight-line to double-declining-balance depreciation for its robotic equipment. It changed the life expectancy as follows:
Original cost of robotic equipment $2,000,000 Accumulated depreciation thru 2015 $800,000 Original life in years 8 Remaining life in years 4 Determine the correct amount of depreciation to expense for 2016. A) $250,000 B) $300,000 C) $400,000 D) $600,000