Abstract This paper analyzes current research on salesperson and customer interactions. The paper includes the dynamics of buyer-supplier relationships, an overview of selling model definitions and research efforts used to validate them, and a comprehensive review of key findings from research into these areas. The paper intends to show specifically how salesperson-to-customer and buyer-to-supplier relationships are being clarified and made more effective through the research efforts of the theorists, educators, and practitioners mentioned in the paper.
Outline:
Executive Summary
Selling Approach in Buyer-Seller Relationships
Essentials of Relationship Selling
Principles of Adaptive Selling
Putting Dyadic Sales Techniques to the Test: Selling of Services
Taxonomy of Buyer-Seller Relationships Research
Organizational Buyer Behavior (OBB)
Buyer-Seller Relationships Models
Overview of the Dwyer, Schurr and Oh (1987) Model
Other Models of Buyer-Seller Relationship Stages
Buyer-Seller Relationships and the Values of the Salesperson
Buyer-Seller Relationships Trends and Future Direction
From the Paper "The awareness stage is characterized as a bilateral interaction that marks the beginning of the next phase of the possible relationship (e.g., a general inquiry). It is only the recognition of the feasibility of a relationship. The second stage, exploration, is the search and trail phase. It has five sub-processes: 1) attraction, 2) communication and bargaining, 3) development and exercise of power, 4) norm development, and 5) expectation of development (trust plays an important role in this sub-process). Phase three is the expansion stage and refers to continual increase in benefits obtained by exchange partners and to their increasing interdependence. Commitment is the fourth phase that refers to the implicit and explicit pledge of relational continuity between exchange partners (e.g., top accounts). The criteria of this phase are inputs (i.e., what the parties contribute), durability (i.e., bonding is a factor in this criteria) and consistency. The final phase is dissolution that shouldn't be considered as a reversal according to Dwyer et al. (1987)."
Abstract This paper examines how foreign trade and the exchange of goods would seem like a simple act at first, and how, in reality, there are many unforeseen circumstances that can arise during that transaction that can lead to the inability of the seller to provide the goods and the buyer to pay for those goods. It analyzes how this has led to an increasingly complex set of laws to help decide in what cases a party is entitled to recover the losses incurred from the inability to complete the transaction. It also shows how many of these laws are weighted toward the buyer and do little to protect the seller.
From the Paper "Negotiable bills may not be due at the time they are made. Instead they may have a maturity attached to them at some later date. The note may set forth penalties or other remedies if the bill is not paid according to the terms. Notes have been a source of disagreement in International trade as they customs of different countries vary. For instance, there may be a difference in observed holidays between two countries and this can lead to a misunderstanding about when a bill is due. There may also be differences in whether a bill can carry interest or on taxation purchases. As one can see there are many areas in which disagreements can arise from the negotiation of these forms of payment. These differences have led to the development of a series of treaties and agreements between trading partners and countries surrounding and standardizing the use of these instruments."
Abstract Value theory has been interpreted and described in many different ways throughout the course of history. There are classical theorists, early classical theorists and socialists, and even those who are categorized as late Ricardians. This essay focuses on the definition of value theory as defined by the following theorists: Marx; Menger; Ricardo; Say; and Smith. Each of these economic theorists presented a slightly different take on how value is derived in an economic environment. For some, value is created from labor exerted by workers. For others, supply creates demand and subsequent value. Some have argued that value is created in the marketplace as consumers exchange goods and services; buyers and sellers create demand, supply and demand, and any good is only as valuable as the time the producer puts into it. All of the theorists explored have both positive and negative factors related to their theory of value. Each of these schools of thought is explored in greater detail.
From the Paper "Marx claimed that value is a physical and social substance or "social labor" (Kim, 1998). Marx's value theory asserts that "the value of an object is solely a result of the labor expended to produce it" (Isil, 2004). Marx also suggests that an object is worth more relative to the amount of labor or time that is put into its development. His theory was popular at the time among working class individuals who exuded a lot of effort creating value in the goods and services they produced.
Marx defines value in essence as "consumed labor time" meaning that goods are simply a product of the labor that goes into producing them, and only as valuable as the value of the labor put into them (Isil, 2004). There are many that have argued against Marx's ideals, in part because of his strong beliefs that workers who invest a significant amount of time creating a product should enjoy the fruits of their labor to a much greater degree than they are often compensated."
Abstract This paper argues that both the buyer and the seller should each have his or her own agent when buying and selling real estate. The author discusses both sides of the issue.
From the Paper "Should a real estate broker attempt to represent both the seller and the buyer in a single transaction. The first response that most people are likely to give is that a broker should not try to do so because of the potential and even real conflicts of interest."
Tags: dual agency, conflict of interest, buyer, seller
Abstract This paper briefly examines Bristol-Myers Squibb's (BMS) entry into the market and discusses what new innocations this company has to offer the pharmaceutical industry. The paper then addressses the issue of market competition and discusses the different competitive players in the industry. It then explains product substitutes that BMS produces and concludes by mentioning its suppliers and buyers.
From the Paper "Bristol-Myers Squibb is a major producer and distributor of medicines, nutritional products, and medical imaging equipment. They produce cardiovascular and metabolic medicines, mental health medicines; as well as headache, migraine, nervous system medicines. Some of their brands include: Excedrin Migraine over the counter medicine, and Enfamil infant formulas. They also produce Boost nutritional supplements and diabetic nutritional products."
Tags: medicine, natural, remedy, buyer, seller, market, competition, FDA
Abstract This paper summarizes Sellers' autobiography about his life as an activist in the Civil Rights movement. The paper explains Sellers' point that his involvement in the movement led him to understand that civil rights were more than about just getting to eat in the same places as white people and really about creating fundamental and profound changes in American society that would bring African-Americans true equality.
From the Paper "Sellers demonstrates that many people in the Black community of Denmark were uncomfortable with his growing activism. His mother received critical remarks about him; the President of black, local, Vorhees College was fired when the students became too active for the taste of the Board of Trustees; and his determination to continue with his activist activities caused a major rift between his father, whom he idolized, and himself. He notes that young Black college students across the South had similar confrontations with their parents as the sit-in movement grew."
Abstract The paper examines the formation of buyer-supplier relationships in the context of contract drafting practices and close partner selection. The paper specifically defines variables to measure buyer-supplier relationships, the relative level of individualism versus collectivism that buyers have and their resulting expectations of suppliers. The paper also presents variables to measure the tendency to create more detailed and precise contracts to counter opportunism and to determine what becomes the enforcement of trust and compliance. The paper includes tables and charts.
Outline:
Executive Summary
Demographics
Summary of Demographics Analysis
Descriptives Analysis
Reliability Analysis
Analysis of Results
Differentiating and Segmenting on Trust is Critical for Suppliers
From the Paper "Beginning with a demographic analysis of the respondents that leads to a profile being created of their key characteristics, there are indicators of the ability of suppliers to create buyer-supplier relationships to create collectivist-leaning relationships. The dichotomy of collectivist versus individualist approaches to managing relationships is exacerbated by the geographical distances that emerge from the following demographic profile as well."
Abstract The paper discusses the importance of creating marketing strategies based on buyer behavior. The paper focuses on the business-to-consumer (B2C) and business-to-business (B2B) marketplaces. The paper notes the differences in behavior between B2C and B2B customers and how the B2B buyer behavior is inherently more complex that B2C. The paper examines the online selling strategies of the Nike and Dell companies.
Outline:
Comparing How B2C versus B2B Buyers Like to Buy
Anticipating and Responding to B2B Consumer Behavior
Summary
From the Paper "Buyer behavior and attitudes is the cornerstone of any businesses' growth. This transcends the Business-to-Consumer (B2C) and Business-to-Business (B2B) marketplaces, each having significantly different types of buyers and buying processes. The role of electronic commerce to enable initiatives in both the B2B and B2C market sectors is increasing and illustrates through the variations in marketing strategies how each type of customer in these specific markets chooses to buy."
Abstract This paper explains that the current problems in the housing market have resulted in the highest number of foreclosures in decades. This situation is creating fraud schemes to lure unsuspecting buyers. Everyone with above average credit, the author cautions, can be victimized by the fraud scheme commonly known as a straw buyer. The paper exposes the fraudulent system of straw buyers, who are drawn into the real estate market by the dream of investing little and yet making an impressive amount of money.
From the Paper "For about a year, a straw buyer may be one of the happiest people around not knowing what their real estate future has in store for them. The investors seem to be true to their word giving the buyer five thousand dollars on each home purchase and the buyer has never had to worry about a mortgage or utility payment because the investor has been taking care of them as promised. The buyer may feel as if they have made one of the greatest business endeavors of their life until the day they are sipping on their latte while opening their mail only to realize they have a late payment on one of their investment properties."
Tags: vulnerable, white collar, credit payments foreclosure
Abstract In this article the writer discusses the various agencies and laws which exist to protect home buyers in the real estate transaction process, from securing the necessary credit to dealing with real estate agents. The paper devotes a great deal of time looking at what rights new home purchasers have with regards to gaining access to credit, for it is credit that ultimately determines whether any such purchase will be possible in the first place. Furthermore, the paper also peers into the legislation geared towards protecting those who wish to buy homes from others, but who may have to deal with antiquated racist attitudes in the process. Lastly, the paper offers a brief critique of the available literature and what it appears to suggest about the measures presently in place to protect home buyers in America.
From the Paper "Other organizations contribute in other ways. For example, Wood reports in a 2005 study he also conducted on behalf of the Government Accounting Office that the Department of Agriculture and Urban Development's Federal Housing Administration and the Department of Agriculture's Rural Housing Service guaranteed roughly $136 billion in mortgages for multi-family rental housing, for various health care facilities and, most importantly for our purposes, for single family homes. Apparently overgenerous to a fault, both organizations have also had to suspend their issuance of guarantees in the past because they went over the dollar amounts they were permitted to spend under their commitment authority or, in a closely-related vein, because they went over the dollar limits prescribed to them under their credit subsidy budget authority for a given year. Needless to say, the result of these suspensions is that many families which rely upon the aforementioned loan guarantees find themselves faced with unexpected financial hardships. Wood reports that, while both programs have many things which commend themselves, the simple fact of the matter is that the FHA and RHS loan guarantee programs operate on a first-come, first-served basis - a practice which can easily discriminate against poor families who lack knowledge about the programs."
Abstract This a brief description of the organizational buyers groups and consumers who will be purchasing the biodiesel products.
From the Paper "Those targeted, as biodiesel consumers exist within three separate groups. One group represents the general population of consumers and small business owners (i.e. farmers, construction workers, contractors). The other two groups represent a significantly large population and whose annual diesel consumption is an extremely important factor in the success of the Ford biodiesel product. These consumer groups are known on the organization level as "Producers" and "Intermediaries" and are described below: Producers: The "producers" represent large company who are service providers and who main concern deals with trucking, transportation and freight. A few example companies chosen on the basis of their market capitalization are: JB Hunt Transport, Yellow Roadway, Landstar Systems and Heartland Express. Each of these companies is located nationally and penetrates all markets and have delivery routes in all given metropolitan areas in the United States ("Industry Center-Trucking", 2005)."
Abstract This paper discusses the specific implications of the dispute in the historical case, Ross T. Smyth and Co. Ltd. vs. T.D. Bailey, Son & Co. [1940] 3 All ER 60. The paper examines how this related to the seller and buyer, specifically in the context of the CIF and FOB contractual meanings. The paper describes the selling terms of CIF, which represents 'cost, insurance and freight', and FOB, which stands for 'free on board'. These terms relate to the sellers obligation of delivery of goods to the buyer.
From the Paper "The specific meaning of the term "goods" has posed many difficulties for the courts. Goods refer to that which is ?tangible, physical and movable.? A sale consists in the transferring of the title of goods from the seller to the buyer for a price [2-106(1)]. The seller is under obligation to make transfer and delivery of the goods and the obligations of the buyer are to make acceptance and payment in adherence to the contract. [1-301]. Basically, parties to a contract can agree upon whatever terms they desire as long as they are both agreeable to the contract."
Abstract This paper describes how on-line auctions are a form of peer-to-peer (P2P) networking in which the on-line auction serves as the transaction forum, but is not directly involved in the transaction. Consumers who use on-line auctions must place trust in the trade and trust in the trader. This requires that an on-line auction e-company must have solid policies and procedures to resolve disputes between buyers and sellers. The process of resolving disputes on on-line auction websites follow a series of steps, as outlined in this paper. A flow-chart diagram of the steps is included.
From the Paper "The process for a seller to sell an item on an online auction is parallel to the buyer's process. The seller locates an item he or she would like to sell and researches similar items on eBay to find its potential value to bidders. The seller also decides which category the item best fits and then lists the item using eBay's "Sell Your Item" form. This takes the seller to a step-by-step process where the seller describes the item, posts pictures, and sets a starting price for the auction. When the auction ends and the item was won by a buyer, the buyer pays for the item and its shipping costs using a tool such as PayPal."
Abstract This paper looks at arms sales to the Third World. It discusses the top seven arms sellers to the Third World and who the major buyers are. France and Russia follow the U.S.; but China's sales were around US $2.7 billions in 1999 and dropped to $400 millions last year with Pakistan remaining a major buyer.
I. Introduction
II. Basic details
III. Outcome
IV. Interesting facts
V. Conclusion
From the Paper "The global arms business is on the upswing again and the United States, as has been the case many times in the past, accounts for nearly 50 per cent of the sales to developing countries. The New York Times, in a Congressional Research Service Report that was highlighted states that the international arms sales grew by eight per cent in 2000 to nearly $40 billions and the U.S. contracted for about $18.6 billions of it. The U.S. sales increased by about $6 billions between 1999 and 2000 thanks to a large extent by the contact to sell 80 F-16 jets to the United Arab Emirates, a deal that is put at around $6.4 billions. France and Russia follow the U.S.; but China's sales was around US$2.7 billions in 1999 dropped to $400 millions last year with Pakistan remaining a major buyer.
"Between 1997 and 2000, Russia had agreed to sell Iran some US $300 millions in weapons measured in constant 2000 dollars. Russia agreed to sell Iran some US $300 million in weapons, but during the same period Russia delivered Iran some US $800 millions in arms and in late 2000 Moscow served notice, despite objections from Washington, that additional major sales to Teheran were being pursued. (William W. Keller & Janne E. Nolan, The Arms Trade: Business As Usual?. Vol. 109, Foreign Policy, 12-01-1997)."
Abstract Human resource management at any firm requires the negotiating between different personalities. However, because of the daily nature of real estate as a profession and the need to forestall personality conflicts between employees and sellers, this becomes particularly critical in the real estate profession. This paper examines the role of human resources in real estate firms. It also provides recommendations for a real estate firm when setting up an HR department.
From the Paper "Furthermore, as individuals become more tempted to sell homes themselves, either as independent agents or by using the internet, real estate firms must work particularly hard in today's climate to make a case for the need for their profession, and the need for an agent as a crucial middleperson in negotiating a fair and equitable sale, as well as informing prospective sellers and buyers of any particular property of the value of said purchase. In fact, the internet has proved helpful in some respects to the industry, as ?advances in telecommunications and the ability to retrieve data on properties over the Internet allows many real estate brokers and sales agents to work out of their homes, instead of real estate offices.? (U.S. Department of Labor, ?Real Estate,? 2004)"
