Essay about Principles Of Buying

Gaining a customer relationship is also a good way of meeting customer needs and you find out who they are so you are more than able to offer them what they need.

The customer is the strength of a company. She must focus all its means to target service concept.

As competition increases, a company will always have its loyal customers if their salespeople build a strong partnering relationship. Today, we live in an information era where things are constantly becoming outdated but a quality relationship with customers will always have the customers coming back for your product, regardless what company enters the market.

· The standardization of industry product: Vehicles products are standardized even though we still can find some differentiation between auto companies. For the consumers who feel they can find the equivalent vehicles between companies, they will compare them. However, since there are brand loyalty among the consumers in choosing a vehicle related to its differentiation, the switching costs for consumers may be high. Thus, the bargaining power of buyers seems to be moderate.

The far majority who invest in the stock market or a type of security hope that their investment escalates in value or price. However, others execute investments based on the opposite taking place; they hope that the price of the security declines. These investors are practicing short selling. Numerous renowned examples of short selling exist, one of which, the shorting of mortgage backed securities during the real estate bubble in 2008. A number of critics find short selling unethical while others feel it necessary to maintain a balance in the market.

* Building the right relationships with the right customers involves treating customers as assets that need to be managed and maximized

A supply chain is very important to an organization. It can and should show the relationship between suppliers, distributors, managers and consumers. This paper would detail how important suppliers and distributions are to an organization’s success. And how important a supply chain is within an organization and how managers can utilize the supply chain. It is important that companies such as Target Corporations utilize the supply chain and gain competitive advantages. Target is one of the world’s largest retail stores; the first Target was opened in 1962 in Roseville, Minnesota (Target.com). By the end of 1962 there were only four Target and they were all operated in Minnesota.

This strategy is vital and attracts customers that have been loyal and meet the company vision of customer first. This strategy boosts sales in their industry.

The price ceiling is the maximum price a seller is allowed to charge for a product or service. An impact on society includes when the prices are so high of a product, that no one can buy it. A price floor is the lowest legal price a product or service can be sold at. When market price is at its lowest, it may still be too high for consumers to purchase products. Governments can intervene for any purpose, and they are the ones who set these price controls.

P3 – Explain how focussing on the customer, by providing good customer, is essential to retailing

\Sam Johnson is the owner of a medium-size electronics company, Integrated Electronics Manufacturing (IEM), which produces high-grade electronic modules used by several major electronics manufacturers to produce a variety of military and commercial telecommunications devices such as aircraft radios, navigational equipment, land-based satellite receivers, and other items. IEM has 60 employees. Normally, IEM purchases electronic parts such as resistors, capacitors, circuit boards and enclosures from several different suppliers and assembles the modules in its own facility. Some of the parts, like circuit boards and enclosures, are built to IEM engineer’s specifications while others are “off the shelf”.

In this paper, I have researched to find out how this grant empire has become and remain so successful. I found out that one of the reasons is because it has been able to maintain the goals and standards that its owner, Mr. Sam Walton has built it upon. Even after his death, Wal-Mart continues to expand and grow in other countries. Wal-Mart is considered one of the top ten global companies today. Mr. Walton’s main goal was to sell products at a low price so that people could live a better life. Another reason is because Wal-Mart uses certain market mix strategies such as the four P”. These strategies, price, promotion, product and place.

I have always believed customers are the focal point of any business. I found that having satisfied customers does not mean you are doing a good job. It may mean the customers are satisfied because their expectations are so low and there is no one else doing any better. Having

It would have been good if this fundamental vision was in place right at the very beginning of the company’s formation. In the end it is the customers that make the company, so it makes sense to work towards satisfying this customer relationship. To become profitable and achieve market share are secondary objective that can be measured on a annual basis and overall company well being targets can be rewarded with incentives that link into the company’s performance as opposed to individual contribution to the company’s success.

What aspects of eBay’s strategic capability are easily copied by new entrants and if so would you copy them and how would you copy them?