Answered: Select one:

Business

Accounting

Select one:

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 1TP: Conduct research on a real-world retailers trade discounts and policies, and discuss the following...

See similar textbooks

Similar questions

How does the strategic profit model assist retailers in planning and evaluating the performance of their marketing and financial strategies? What differences would you expect to see when comparing Gifts To Go’s specialty store strategic profit model with that of two dry-cleaning service businesses?
As a Marketer it is challenging to understand Consumer Behavior in today’s fast growing and competitive world because it is complex and dynamic in nature. However, please briefly explain which factors affects or influence consumer behavior along examples with reference to the Pakistani context.
“Lifestyle and psychographic segmentations are very complex to understand andimplement. Companies make heavy investments in consumer research to identify suchsegments, their behavior, their potential etc. Despite all the hard work there is always achance that such segmentation strategies might fail. On the other hand, demographicsegmentation id much simpler, cost effective and easy to implement, still marketers prefer theformer one...” Give detailed view on the above statement?
One way consumers can evaluate alternatives is to identify important attributes and assess how purchase alternatives perform on those attributes. Consider the purchase of a tablet. Each attribute is given a weight to reflect its level of importance to that consumer. Then the consumer evaluates each alternative on each attribute (higher ratings indicate higher performance). A score can be calculated for each brand by multiplying the importance weight for each attribute by the brand's score on that attribute. These weighted scores are then summed to determine the score for that brand. Calculate the weighted scores for all brands. Which brand would this consumer likely choose?,,Alternative Brands,,Attributes,Importance Weight,A,B,CScreen size,0.3,5,5,7Price,0.1,7,7,3Operating System,0.3,3,3,6Apps available,0.3,3,2,4
One way consumers can evaluate alternatives is to identify important attributes and assess how purchase alternatives perform on those attributes. Consider the purchase of a tablet. Each attribute is given a weight to reflect its level of importance to that consumer. Then the consumer evaluates each alternative on each attribute (higher ratings indicate higher performance). A score can be calculated for each brand by multiplying the importance weight for each attribute by the brand's score on that attribute. These weighted scores are then summed to determine the score for that brand. Calculate the weighted scores for all brands. Which brand would this consumer likely choose? Which brand is this consumer least likely to purchase? Discuss way the marketer of this brand can enhance consumer likelihood of purchasing its brand.,,Alternative Brands,,Attributes,Importance Weight,A,B,CScreen size,0.3,3,5,4Price,0.3,2,5,6Operating System,0.3,2,2,2Apps available,0.1,7,2,5
What challenges does Blu Dot face in selling consumer products (as opposed to business products)?
The foundation of every marketing strategy is the identification of a target market and the development of a marketing mix. The marketing mix is commonly referred to as the 4 P's of marketing: Product Price Place (also called distribution) Promotion Think about a fairly significant purchase you made recently and analyze how this product or service was marketed to you by the company. Do you think you are part of the target market that the company identified for this product? How did the company use the 4 P's of marketing to try to convince you to buy this product?
Does your current/future company price discriminate? Explain how the practice works (direct or indirect) and estimate the profit consequences of price discrimination relative to charging a single, uniform price. If your current/future company doesn't price discriminate, are there opportunities to do so? How would you design the price discrimination?
The company manager (retail industry) stated that the company could lower its operating leverage by renting its stores rather than buying. Would you recommend this? Explain.
Explain some of the differences that make merchandising businesses and service businesses different from each other. The text below may help you. Use evidence from the text below to support your response. Read: A service business sells its services for a fee. A merchandising business is a business that purchases goods and sells them. If you are selling those goods to the general public for use or consumption, your business is a retail merchandising business. Many of the transactions of a service business and a merchandising business are the same. You pay cash for supplies and buy on account, just like in a service business. However, transactions like these occur more often and include different elements to account for. For example, there is a lot more purchasing of goods on account to have an inventory to sell. Also, an asset account for all those purchases is needed. A merchandising business may have a much higher volume of sales and may have to charge sales tax depending on city,…
Please identify what types of companies would use market-based pricing versus what type of companies would use cost-based pricing and explain why.
The shareholder of Al-Karam wants to maximize his profits by selling his goods in the larger quantities. In order to achieve his target (s) he hired a manager to look after his business. However, the manager instead of maximizing business profits started maximizing his own interest by selling the designs in black to the competitor’s designers. Analyze the above situation and explain the possible problem that might occur for Al-Karam.