Marketing Principles, SME 2011 Babson College
15th Edition
ISBN: 9781308605654
Author: N/A
Publisher: McGraw Hill Create
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Chapter 15, Problem 2MA
Summary Introduction
To discuss: Person X opinion on given situation.
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Considering what you purchased and how/where you purchased, how the firm could provide even greater value for you? For example, when buying a car, a sales person might ask just the right questions to quickly understand what you are looking for, which makes the buying situation pleasant and easy. Or, if you buy an electric car and the car seller also offers you an easy set up of a home-based charging station, it makes the purchasing decision and actual use of your electric car easier. Also, the possibility to customize the car might create additional value for you.
In terms of the costs, will you prefer doing shopping every day or once a year? why
Please cite a particular time when you had a fixed amount of money and had to choose between 2 different items. How did you determine which item to purchase with your fixed amount of money?
Chapter 15 Solutions
Marketing Principles, SME 2011 Babson College
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- Why should a purchaser evaluate the cost of making an item instead of simplyevaluating the purchase price? Is this true for all types of products? Why or why not?arrow_forwardAssume that you are about to make a significant consumerpurchase, and the product is available at two local stores, one with high inventoryturnover and one with low. Which store would you choose based on this information?Why?arrow_forwardExplain why fine dining establishments must have very high markups over the cost of their foods. Is it possible to be a low-priced fine dining establishment?arrow_forward
- You have recently been appointed as the executive director responsible for the purchasing function at Pick’n’Pay, which is one of the leading supermarkets in South Africa and other African countries. You notice that there are no documents that outline the roles and responsibilities of the buyer as well as the criteria that is used to select suppliers. Describe the below roles and responsibilities of the buyer. Include the use of examples to support your write up. 1.Doing price /cost analysis 2. Doing market Research 3.Maintaining and improving Quality 4. Developing contracts and negotiating with suppliers 5.Improving the organisation’s competitive positarrow_forwardFrom what companies or individuals will you purchase the products you plan to sell or the parts you will use to manufacture those products? Do you intend to manufacture your product? If so, describe the manufacturing processes you will use. If not, explain how your product is manufactured. How do you plan to distribute or get your product to your target market? What is the estimated delivery time between when you place an order with your supplier and when you will have the product available for your customers? What method(s) will you use to define and ensure the quality of your products/services? starting a business as an employment agencyarrow_forwardWhat is Value for Money (VfM) in the context of procurement? Discuss five (5) of the key steps you will take to ensure the achievement of VfM for procurement in your organization.arrow_forward
- Week after week, consumers shop for many of the same groceries. At some point, the product may be priced the same and look the same as before but with less in the package. If consumers are not made aware of the change, is this deception? Is this different from deceptive pricing? Over the past several years, careful shoppers may be spending about the same amount of money at the grocery store but leaving the store with a lighter load in their grocery bags. Food prices on many items have increased, and food manufacturers are facing the same challenges as consumers. With increases in raw materials and transportation, making a profit requires a very sharp pencil. According to Phil Lempert, editor of SupermarketGuru.com, “The reality is, if you look at USDA projections, food is going to get more expensive. And as a result, food companies are going to do one of two or three things: Raise prices and keep packages the same, or reduce the quantity in the package. Or do a little of…arrow_forwardWith a company only considering extra small, and small size to the clothing it sells. What should be the end matter and supplementary material of this company?arrow_forwardAs a computer manufacturer, you face the daunting challenge of catering to consumers' needs for affordable products without sacrificing quality or performance. Provide us with details on the method you'd use to produce high-quality equipment at affordable pricing.arrow_forward
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