Quiz 3: Buying Behavior and the Buying Process
Today organizations are working in increasing the number of women employees alongwith increasing the number of minority-based workforce in an enterprise. The major purpose behind doing this is that every organization want to have a proper balance of men and women employees and also the presence of minority employees is expected. This is the reason why employees today adopt policies and procedures that provides more opportunities to women as well as minority-based employees. It is a fact that major airlines like DT and AA are working over the policies of increasing job and work opportunities for women and minority-based employees. And, Mr. Y who is an entrepreneur is having a product that is capable of decreasing of 30 percent fuel cost of these airlines. But his product does not qualify as woman or minority-owned. So, Mr. Y is thinking to create partnership in this business with his sister, so that the particular business could be functioned with these airline companies. In this situation, it would be appropriate for Mr. Y to bring in his sister as a partner in his business and make this business as owned by a woman. This will not only satisfy the conditions of airlines to undergo business that involves women or minority population but also encourage the women participation in the business world. This is the reason why Mr. Y should bring in his sister as a partner in his business while dealing with the airline companies rather than licensing the product to an already certified minority-owned business.
It is the responsibility of the manufacturers and producers to stick on to the rules and regulations put forward by the regulatory authorities. In the mentioned scenario, the government is concerned about the health of residents of their country. Therefore, it insisted the producers and manufacturers to reduce the sugar and fat content in the food processed by them. The new policy would influence the manufacturers and producers of package food including processed meat, ready-to-mix products and canned fish. These packaged foods containing high level of fat and other minerals would influence the manufactures to adopt significant steps that would minimize their harmful effects. The supply of processed meat would affect the manufacturers negatively as it contains highest fat component. Reducing the fat and other components to minimum value would be much tougher for this item. Contrary to this, the ready-to-mix products can be easily modified. Hence, it would positively affect the manufacturers.
Sales people have to work under several legal and ethical obligations and this affects their profession to a large scale. If the sales people will not work with high personal and ethical standards, then this will affect their credibility alongwith the goodwill of the firm. Mr. Y is talking to a class about business where he is mentioning that he is studying how people make buying decisions and this information will facilitate him to become a better salesperson. Over this, one of the friends of Mr. Y comments that he is studying how to manipulate people effectively. The kind of response that Mr. Y would be giving over his friend's comment is that learning about the way people buy and make decisions for their purchases provides insights about human behavior, needs, requirements, and how the price of a particular product and its availability and access affects their buying behavior and decisions. This learning could not be termed as learning the skill for manipulating other's behaviors and buying decisions. This is because getting acquainted with human buying behavior will provide a salesperson to be more aware of their buying skills and the basis on which their buying decision relies.