MCS 3040 Chapter Notes - Chapter 6: Fax, Standard Form Contract

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greenherring625

15 Oct 2012

School

University of Guelph

Department

Marketing and Consumer Studies

Course

MCS 3040

Professor

Joseph Radocchia

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Document Summary

Basic elements of a contract - that it is: An agreement i. e. composed of an offer and acceptance. Deliberate i. e. intention to create legal relations is present. Before a contract can be in place, the parties must be in agreement. They must have reached a consensus as to their rights and obligations. The agreement takes the form of offer and acceptance. Offer: a promise to perform specified acts on certain terms. At this point, negotiations take an important turn -> ann is entitled to accept that offer, and upon doing so, trackers is obligated to supply its product exactly as jason proposed. Only a complete offer can form the basis of a contract -> all the essential terms must be set out or the contract will fail for uncertainty. An offer does not have to meet the standard of perfect clarity and precision in how it is expressed.

Related Questions

Which of the following characterizes organizational buyer-seller relationships?

A. Purchases are often made after brief negotiations.

B. Relationships may evolve into supply partnerships.

C. Short-term relationships are often prevalent.

D. Reciprocal arrangements rarely exist.

E. Delivery schedules are less important than production capacity.

grayclam53

Which of the following activities would LEAST likely be found in a policy to promote good supplier relationships?.

Group of answer choices

having fair and transparent process in awarding contracts

paying supplier invoices according to agreed terms.

developing open communication channels with suppliers

explaining the contract award process to the winning supplier

marooneel670

few years, British Sky Broadcasting has transformed the way people in Britain watch and use their television. Before Sky, people could never have imagined ordering a pizza or sending an email from their set. Today it's an accepted thing.

Part of Sky's success has been in its brand - in defining what makes Sky special and in expressing that difference visually, in products and in the actions of people in the company. And that brand has become one of the company's greatest assets. Brands help companies build a relationship with a customer. A good brand not only helps differentiate a company, it also helps the customer feel something as a result. A pair of Nike trainers might make a person feel more fashionable. A Sony minidisc player might make a person feel they are at the cutting edge of miniature technology. A Rolls Royce might make a person feel that they have reached the top.

Some brands even go beyond that and become so well known that they become generic. This means they're used as a general term for that type of product, even if it's a competitor's product. Walkmans, and Hoovers are a good example. People Hoover the carpet, even if they're really using an Electrolux.

A brand helps customer recognition and enables recognition to be spread by word of mouth as well as by advertising. A brand also adds value. It can allow a company to offer its products at a premium, without reducing the customers' perception of value for money. It also allows a company to extend what they offer to the customer - if a customer trusts one product from that company, they are more likely to trust (and buy) another product from the same company.

That is why Sky has invested so much in its brand. As the first entrant 16 years ago in the field of multichannel television, it had the opportunity to build strong recognition and to even establish itself as the generic brand for multichannel television.

Source: (viewed 10 February 2019)

QUESTIONS

1. In the above article, "if a customer trusts one product from that company, they are more likely to trust (and buy) another product from the same company". Discuss different ways that companies can use to increase brand loyalty. Justify your answers with relevant examples. (5 marks) (500 words)

2. In the above article "brand has become one of the company's greatest assets". Do you agree? Justify your answers with arguments and examples. (5 marks) (500 words)

redcaribou169

MCS 3040 Chapter Notes - Chapter 6: Fax, Standard Form Contract

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