2.01 By what I have read in the article I have notice that most of these statements are true and that the advertisement does affect the price of a product or service. When people watch or look at something like a video or picture or hear something when they find it in the store they well remember that product/Service and maybe even try it because they know about it. At time when the product isn’t advertised it is purchased, but not as much as the items they are. That is because they are unfamiliar with it or the way it looks. There is a saying that goes “don’t judge a book by its cover” but that’s exactly what consumers do.
In the next chapter we learn how sellers set the prices in which we pay for an item, why things cost what they do and not what they are worth. The key to prices are sellers that can sell their products as close to the cost of making the item. In a regular market, prices are the key. Businesses cannot afford to charge a higher price, customers are normally looking for a lower price and the lower the better, in today’s economy. Many customers ask the question, “What affects prices?” We learn that things happen beyond the sellers’ and buyers’ control to raise and lower prices in today’s market.
Although not technically necessary, following this step eliminates all possibility that the shoplifter still intends to pay for the stolen product. A few courts have held that detaining someone for shoplifting inside a retail store does not establish the criminal intent of theft. However, in several states shoplifters can be detained once they have concealed the merchandise. When approaching a shoplifter outside of the store always have a least one trained employee as a witness. There is safety in numbers and most shoplifters will cooperate if they believe fighting or running is futile.
A person that doesn’t promise,,has to follow certain rules to disclaim the warranty of merchantability. A seller’s promise of fit goods, can also be enforced by members of the buyers household. In a few states it, warranty protects the family, and whoever uses, get injured because of the breach. In the past “ privity of contract meant you could only sue the seller, now you can sue retailers, wholesalers, and manufacturers if goods are not fit. Contract law promotes commerce, by guaranteeing that the law protects them.
They make their own prices, which would in most cases be more of a benefit to the producer. Both structures make it very difficult for others to enter the industry, limiting and sometimes blocking entry and competition. Industrial Regulation seeks to prevent unfair practices of restricting market entry, opening markets up for competition. Ideally, prices with regulate themselves in a fair competition, preventing one or a few companies from setting the prices that would be deemed as inappropriate. It also works to prevent the practices of unfair pricing and charging higher prices to consumers while the companies produce less product, limiting choices for consumers.
While Wal-Mart's methods are under scrutiny for the seeming forceful nature, but in reality they just have the power to push suppliers around and pressure small businesses to the brink. The retailer is brutally honest and straight forward about what they need and what they can get in their business ventures. Wal-Mart creates low prices by the threat of outsourcing and pitting suppliers against each other. If a supplier wants to change the terms of their agreement with Wal-Mart, they will simply be shoved aside and replaced by someone who will do what Wal-Mart wants. In order for small businesses to really gain an edge they have to diversify their products and exploit local suppliers, cash in on the advantage of a better enhanced customer experience, and with interaction within the nearby communities.
The fact that people had to repeatedly asked company Q to carry specific product line represents that the company is not in tune with their community and with the needs of their customers. Company Q should develop methods to research what goods are selling better in certain areas compared to what goods and merchandise is selling slower. If company Q can stay ahead of what the customer wants, the customer will feel as if the store is listening to them, knows them, and appreciates them for shopping with them . This problem can be easily remedied simply by conducting formal and informal surveys, placing suggestion box around the store, and simply asking their consumers what products they would like to purchase inside of their store. The sooner that company Q can anticipate and foresee what products are more in demand the sooner the company will be able to create a better profit margin, establish a good working relationship with the customer, and achieve a favorable public and consumer perception.
It also has numerous of problem that one needs to understand. Analyzing and interpretation of the interviews are subjective and can be biased (Javalgi, Granot, & Brashear, 2011). Thus it is crucial that the facilitator is experienced and understands the culture’s verbal as well as nonverbal communication. Assumption about the interviews can lead to errors in the research. However, understanding the culture and values of foreign consumers can help boost the sales of the product and service because the sales teams can market and target their consumers.
The data set would gain validity if more test subjects from different Autoplex were included. The data analysts should note the data set information on if the rebates are included in the figures or left out. The consumer may receive false information or slightly misleading information to entice the buyer to visit the Whitner Autoplex based on cheaper prices. This data set does not provide the analyst with personal information on the consumers but in some cases personal information will be included, and the analyst must be careful to not let the information out to where someone could improperly use the
A few people shoplift because they see it as a way of getting back at a store they don't like or a company whose values they question. But shoplifting rarely affects the store as much as it affects the people who shop there. Some stores may add the cost of shoplifting into their prices. So the people shopping there are the ones paying extra, not the stores. What Happens to Shoplifters?