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Scenario 2-2 Brush Strokes Is an Art Supply Store Located in a in a Town

question 63

Multiple Choice

Scenario 2-2
Brush Strokes is an art supply store located in a town with a population of about 100,000 people.The town is also home to a major state university.Brush Strokes gets a majority of its business from the student population.It has used the services of a local full-service advertising agency in the past.A great majority of its marketing budget has gone toward running small advertisements in the local and school newspapers at the beginning of each term.The advertising agency is now recommending that Brush Strokes devote a majority of its budget to running television spots during broadcasts of the university's football and basketball games.While the owners of Brush Strokes agree that they could be doing a better job of reaching a larger portion of the student population, they have not come to any conclusions about the best way to accomplish this.
-(Scenario 2-2) The owners of Brush Strokes have called a meeting with their agency to determine how Brush Strokes can benefit best from its advertising.The one agency department that must be represented at this meeting to help identify the benefits of the brand, its target audience, the best competitive positioning and then develop a complete plan is

Comprehend the role of merchandise inventory in accounting and its normal balance.

Know the terms related to shipping and their impact on freight costs and title passage.

Recognize the documentation used in the purchasing process and their purposes.

Understand the effects of buying and returning merchandise on financial statements.

Definitions:

Placebo Effect

The phenomenon in which a person experiences a physiological or psychological improvement after being treated with an inert or ineffective substance or intervention.

Sampling Bias

A bias that occurs when a sample is not representative of the population from which it was drawn, potentially leading to inaccurate conclusions.

Social Desirability

The tendency of respondents to answer questions in a manner that will be viewed favorably by others, potentially skewing research data.

Double Blind Procedure

A research method in which both the participants and the experimenters are unaware of who is receiving a particular treatment, used to prevent bias in experimental results.