Only type answer and give answer fast anceWhile purchasing components or materials as part of new product development, buyers areinterested in early involvement by possible vendors. In early procurement involvement or earlysupplier involvement, potential suppliers participate in the actual design process of a new product.As customer's decide on a particular course of action while going through the steps in the buyingprocess, decisions are made at each step and the range of alternatives narrows. This process isreferred to asO A. implicit commitmentOB. explicit commitment.OC. consistent commitmentO D. persistent commitmentE. creeping CommitmentAtte1H

Product development allows a company to align its products with customer demands and preferences so…

Answered: While purchasing components or…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Put the following steps of the purchasing process in the correct order. Label # 1 being the first step a purchaser would take in purchasing for a food and beverage operation , and so on with #8 being the last step in the process . Note, not all steps in the purchasing process are included in this question .) Develop Standard Specification Forms. Requisition. Receive and store products. Cost analysis to ensure purchasing process is efficient and effective. Establish purveyor contracts and relationships. Develop purchase orders with purveyors. Check inventory to determine purchase quantities on hand. Determine customer needs and expectations.
Please read below scenario in which a consumer explains how she made purchasing decision for a sofa. When I tried to choose a sofa for my living room, I noticed the print advertisements of Brand X and Y. I loved the sofa models of both brands. But Brand Y offered 25% discount on that week. Therefore, I visited a store of Brand Y and bought my sofa. I liked it, because it's very comfortable. Please select the name of Hierarchy of Effects that the consumer likely used. a) The Low-Involvement Hierarchy b) The Experiential Hierarchy c) All the above d) The Standard Learning Hierarchy
20- Which one of the following is the benefit for setting manufacturer’s suggested retail price? a. Drive the competitors b. Reduce retail price competition c. Raise prices and earn profits d. Increasing the value of the product
22- For which of the following is demand likely to be least elastic to price changes? Group of answer choices theater tickets spring break vacations restaurant meals prescription drugs 23- Which of the following is NOT a sales promotion directed at consumers? Group of answer choices premium allowance (slotting fee) sweepstakes coupons 24- When manufacturers or brands want to choose retailers, a key factor in that decision is Group of answer choices where their target customers expect to find their products how many employees the retailers have whether customers will find the store atmospherics appropriate to the location if customers are using credit cards or cash to make purchases
32- Which one of the following is the reason for inelastic consumers that the retailers should consider in fixing the price? a. Consumers are price sensitive b. There are substitutes c. There are no substitutes d. Purchase urgency is low
Explain the steps involved in the typical consumer purchase. Also discuss what can happen following the actual purchase of a significant product that is on the expensive side. Also discuss the concept of compensatory versus non-compensatory consumer decision models when purchases are involved.
Describe vendor analysis.
Name the Traditional model buyer -seller relationship?
List the general approaches to pricing. Select examples of products that you regularly use. i. Notice the price of each of these items For each item, ii. State the main benefits you are looking for in using the product. iii. Does the price communicate the total benefits sought? iv. Does the product’s price suggest good value? v. Do you think the manufacturer or retailer is overcharging or undercharging consumers for the product?
Suggest any product that has drawbacks in terms of use (old and subject to development) to make it more user-friendly in relation to the concept of HCI.
Explain value at Risk as a measure of market risk and the key elements involved when interpreting VAR.
How does Core, Actual/Tangible, and Augmented Levels from tangible products compare with levels for services in marketing? (explain please)

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