According to contract law, when you go to a department store and purchase an item, what have you done? What if you purchase the item at a garage sale? What if you purchase the item an auction?
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According to contract law, when you go to a department store and purchase an item, what have you done? What if you purchase the item at a garage sale? What if you purchase the item an auction?
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- Some high-fashion retailers, notably H&M and Zara, sell what some call“disposable fashion”—apparel priced so reasonably low that it can bedisposed of after just a few wearings. Here is your dilemma: You havean important job interview and need a new suit. You can buy the suit atone of these stores for $129 or at Brooks Brothers for $500. Of course,the Brooks Brothers suit is of higher quality and will therefore lastlonger. How would you use the two value-based approaches describedin this chapter to determine which suit to buy?You are a salesperson in an electronics company. At a recent trade exhibition, you met a supplier that was willing to supply your company with a product on an exclusive basis(i.e. available to your company only) that you could offer in your marketplace.The product in question has already been successfully developed and tested and – as yet – is not being sold on the market.You know from speaking to your customers, that there is demand for such a product and it would clearly plug a gap in your company’s product portfolio and give your company a significant competitive advantage.You approach the product management division with your idea and to your surprise, they are very unenthusiastic and reject your idea, stating “We always develop our own products in-house in this department – it would cost the company far too much to set up the processes to buy in a product from outside.”…You are a salesperson in an electronics company. At a recent trade exhibition, you met a supplier that was willing to supply your company with a product on an exclusive basis(i.e. available to your company only) that you could offer in your marketplace.The product in question has already been successfully developed and tested and – as yet – is not being sold on the market.You know from speaking to your customers, that there is demand for such a product and it would clearly plug a gap in your company’s product portfolio and give your company a significant competitive advantage.You approach the product management division with your idea and to your surprise, they are very unenthusiastic and reject your idea, stating “We always develop our own products in-house in this department – it would cost the company far too much to set up the processes to buy in a product from outside.” a) Outline the possible range of reasons for the product management division’s rejection of your idea.
- The markup on a new diamond ring should be 25% based on selling price. If the seller paid $4,325.00 for one, then how much should it be sold for to achieve the desired markup?In our modern world, in which fewer people carry actual cash, what benefit to the seller does a cash discount carry? Why? Discuss the benefit to the sellerExplain why it is a benefitWhen you exit an arrivals terminal at an airport, you're greeted by a lineup of cars with drivers ready to take you to whatever destination you choose. While it's tempting to hop into one, telling the driver to take you to your destination at full price, if you instead walk to the far end of the terminal, wait in a line, and then wait for a car to arrive, you'll pay a significantly lower price. What hurdle must you clear to get this discount? haggling fluctuating prices inconvenience alternative versions
- What would be a reasonable price to charge for the car?Suppose a customer prefers to work with the criterion “How many items can be purchased for $1?” Explain why that might be a meaningful comparison for the customer to use, and explain how the comparison would then be able to compare two different items having different selling prices.Suppose you are E-commerce consultant in a multinational company. A company offers customers incentive with discount of 10% for order of more than 5000. but people werent taking advantage of the offer because they didnt know about it. As a consultant of that company have a meeting wit their development team and brief them with the solution so that their customer may get advantage of this offer.
- What items should [or should not] be included in a letter of offer?Explain a banking account offering to a young adult who has just started their first job? Explain a banking account offering to a married couple in their mid-thirties investigating different options:What elements are consumers likely to consider when evaluating the purchase price of a product they want to own compared with the price of renting that product for a limited time?