What Makes A Business Transaction?

Decent Essays

A business transaction involves one selling a product to someone that wants or needs it as a business or personal asset. A mutual agreement is reached on the price, and at some point, the product exchanges hand either directly or indirectly through some means of transferring or transporting. As the firm grows locally, nationally, or internationally, transportation and distribution assistance is required to meet consumer demands. Here is where the demand for transportation and logistics begins with a business that may involve importing and exporting supplies required for production, and ends with a consumer receiving products purchased. (Dowlatshahi, 2010), describes inbound and outbound transportation performance as simply achieving scheduled delivery times which displays the firm’s commitment to satisfy consumer expectations. The transportation and logistics industry has specific features and resources designed to meet any consumer shipping needs. This requires strongest competitors to harvest a strategic approach to maximize opportunities to work with all customers, and showcase the values offered by the firm and the industry. This methodology is one that is intended to build or strengthen a brand, and retain and attract new consumers. “In order to attract customers and make them pay the price of the product, the company should be good at understanding what customers’ needs and requirements are, and produce products that really want” (Attia & Hooley, 2007, p. 95).

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