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Do you provide any kind of discount to customers who served in the military?
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- Are customers who have served in the military services eligible for a special discount?Identify a store or service provider that you believe has an effective loyalty program. Explain why it is effective?Assume you are a small retailer selling women's fashions. What actions can you take to build a credit relationship with a manufacturer or wholesaler to ensure that you can use trade credit to purchase needed inventory for your store?
- If you have your own business, who is currently purchasing your products or services? Explain your answer.Please answer this question as soon as possible. I'll rate you for sureYou 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.How would you determine whether a firm’s retail prices are above, at, or below the market?If you had the down payment for purchasing a condo in Toronto, would you make the purchase this summer? Explain why you made this choice
- Ask your parents about a product that they have been purchasing throughout the years and note the changes (e.g., price, packaging, etc.) it underwent. Will they still purchase this particular product despite possible price changes in the future? Why or why not?Loyalty schemes have a long history beginning with the early airline frequent flyer programs. Today, this concept has been applied to many industries including restaurants, apparel, fitness, entertainment, etc. Choose a loyalty program that you find beneficial, or once found beneficial. Based on your knowledge of customer retention and customer lifetime value, discuss how this loyalty scheme influences or influenced your consumer behavior. Then, describe two ways that the loyalty program benefits or benefited you as the customer and three or more ways that loyalty program benefits or benefited the company. If you no longer find this program beneficial, why?When loyalty programs work, they result in one or more of the four effects of loyalty. Discuss three ways in which loyalty programs can enhance the sustainability and profitability of a company