...CONTRACT OF SALE – One of the contracting parties obligates himself to transfer the ownership of and to deliver a determinate thing, and the other to pay therefor a price certain money or its equivalent. A contract of sale may be absolute or conditional. SALES 1. Contract of sale (absolute) • real obligation – obligation to give • remedies available: a. specific performance b. rescission c. damages 2. Contract to sell (conditional) • personal obligation – obligation to do • remedies available: a. resolution b. damages ESSENTIAL REQUISITES OF A CONTRACT OF SALE 1. consent 2. subject matter 3. price CHARACTERISTICS OF CONTRACT OF SALE: 1. Nominate - law gave it a name 2. Principal - can stand on its own; unlike accessory contract 3. Bilateral - imposes obligation on both parties a. obligation of seller – transfer ownership & deliver b. obligation of buyer – pay for price Consequence: power to rescind is implied in bilateral contracts 4. Onerous – with valuable consideration • Consequence: all doubts in construing contract to be resolved in greater reciprocity of interest 5. Commutative – equal value is exchanged for equal value • Test: subjective – as long as parties in all honesty that he is receiving equal value then it complies with test & would not be deemed a donation; but must not be absurd. • Inadequacy of price or aleatory character not sufficient ground to cancel contract of sale; inadequacy can show vitiation of consent & sale may be ...
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...companies apply when they establish a separate service unit? Second, how are these solutions linked to a customer-oriented approach? Third, does the success of service business differ in companies applying different organizational solutions? (Turunen & Toivonen, 2011). These questions attempt to provide manufacturing industry managers the information they need to make well informed decisions about their customer service units. The study included comparing two different companies repair service departments. Company A has an outsourced customer service department that shares little knowledge of the business or its equipment. Company B has a separate department in which the employees have equipment knowledge and are linked to the sales department, operational staff, and the IT technician. This linkage is key in providing the best and quickest satisfying service. The study consisted of two research projects based on 36 interviews with questions from three main topics. The study also...
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...exchange site that is also focused on broad array of stores. They also sell digital coupons and gift cards that an be exchanged via a security code. The site tries to use social media to encourage greater use and sharing of information. Users can promote their own sales of gift cards. This independent reviewer gave a positive review of the site as well. Giftcardgranny.com Gift Card Granny is a site that also provides cards that don't specialize on any particular industry. They offer clothing, general purpose stores, merchandise and food as well. The site is designed not quite as professionally as Raise or Cardpool and has more of a folksy, community feel. On the other hand, it offers quite sophisticated tools to measure the average selling price of different cards so you know if you are buying or selling at a good time. In addition, the site has iPhone and Android apps available for download. That makes the auction process a lot easier for people on the go that want to monitor prices. Even better, for people that are at the store and want to generate their own discount on the item they are purchasing, they can whip out their phone, buy the gift card on site and use it to get a discount. This is like a creating an instant sale for yourself. Ebay.com Ebay is the king of the online marketplace. Since the '90s, the company has been at the forefront of creating marketplaces to buy and sell virtually anything. Of course, eBay does sell discounted gift cards. However, because they are...
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...has hired Martha House to manage the company that includes assuming responsibility for sales and marketing. Trap-Ease America has targeted the trap to housewives, whom it believes will be attracted... Trap-Ease America has the patent to a revolutionary new mouse trap. Trap-Ease America expected the revolutionary mouse trap to sell like hot cakes unfortunately things have not progressed as predicted so far. A few major problems can be identified with the overall business strategy of Trap-Ease America. First of all, the President of the company happens to be the only sales person as well for the product. Secondly, there seems to be a wrong selection in terms of market segmentation. Even though the product is a revolutionary one, however it is still only an improvement of an age-old device. Regardless of how much promotion the product has received from third party reviewers, the consumers still need to be educated on why this more expensive mouse trap is better than the conventional ones. Thus it is imperative that the President hires experienced sales people in order to reach and educate more potential consumers. Apart from that, it is also important to change focus in terms of target market, since the current strategy is targeting women. The target market should be anybody facing the issue of mice in their household. With the right marketing and positioning strategy, along with a strong sales force, Trap-Ease America can definitely capitalize on the revolutionary product. ...
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...Visit smallbusiness.yahoo.com, google.com or any other search engine to find out at least four e-commerce companies that are successful and failure. Identify and discuss briefly the factors that contribute for their successfulness and failures. Four (4) types of successful e-commerce companies. Amazon.com At first glance, it appears that this site is very focused on selling (as they should be), but if you notice, there is much more there than simply “Click here to buy this book”. There are: •Excerpts from the books for sale •A list of the 100 “hot” books, updated hourly •The top video and audio sellers for the day •Reviews both by other customers and professional reviewers •Author interviews •Contests Amazon.com relies heavily on content to promote return visits and sales. They encourage their customers to review the products and provide live testimonials. Some customers will return to this site, simply because of the reviews and other Question 2 Define “social e-commerce” and describe why it is a new form of advertising, search, and potentially commerce. A working definition of “social e-commerce” involves online commercial transactions that take place in an online social milieu involving friends, acquaintances, and others in the consumer’s social network. In many respects this is similar to a traditional village market where consumers search for, evaluate, and purchase products, in the presence of their social network members (families, friends, and...
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...Salespeople Anymore Presenter: Steve Johnson Chief Marketing Officer, Primary Intelligence www.bostonproducts.org Win Loss Analysis: Not just for sales Steven Johnson Twitter @sjohnson717 sjohnson@primary-intel.com http://www.primary-intel.com/blog Sound familiar? “We’re losing deals and we don’t know why.” “We’re winning deals and we don’t know why.” “Is our product bad? Or our promotion? Or our sales reps? Or our reputation? We just don’t know.” “What are our competitors doing?” “We are making decisions every day based on opinions.” The Wheel of Blame 4 Sales people say it’s product and price Product and marketing people say it isn’t Executives don’t know who’s right Can you answer these questions? Why do we (really) win and lose deals? What product features matter to our customers (and don’t)? Which marketing programs are most (and least) effective? Which competitors should we focus on (and ignore)? Which research methods do you employ? Web surveys Analyst research Phone interviews Customer advisory boards Onsite customer visits Traditional view of research “Real” research Who isn’t the buyer? Our sales guy Our marketing lead Our best developer Buyers in the complex sale Functional buyer Decision Maker Technical Reviewer “Coach” For more, see Strategic Selling, Miller, Heiman Which provides the best insights? Web surveys Analyst research Phone interviews...
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... convenient mechanism. To achieve this, they designed a unique organizational system relying on an entirely automated order management system, tightly linked to their suppliers and payment networks, allowing them to minimize human intervention, therefore reducing costs. • Special deals with their partners (suppliers) allow them to maintain very little physical inventory. • They also use unique roles to create a sense of community among book readers, who collaborate to serve as reviewers or salespersons (through the Associates program). • Technology is used both in the back-office as well as in the interaction with the customer (World- Wide-Web for product information and ordering, electronic mail for customer service). Amazon First and foremost, the company sells goods directly. A percentage of products are offered to buyers through Amazon's online storefront with a small markup, and inventory is kept in the company's large network of warehouses. In addition to direct sales, Amazon provides a platform for other retailers to sell products to buyers. Products sold through Amazon's partner retailers are often less common items or those with a higher purchase price, allowing Amazon to avoid holding slow-moving inventory that could dilute profit Amazon also generates revenue from selling its e-reader, the Kindle, and the e-book and mobile application purchases offered to Kindle owners. On growth, the simple point is that Amazon’s market opportunity is very large...
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...Introduction to the case- Greg Miller (President and CEO) and Bill Tanner, (CFO) founded SaleSoft in June 1993 with the objective of marketing PROCEED, a Comprehensive Sales Automation System (CSAS). In the past 18 months PROCEED had received very favorable responses from prospects. However, converting interest to actual sales was taking a long time with only five PROCEED systems having been sold to-date. In September 1995, Gregory Miller was faced with the question of whether or not to introduce a Trojan horse product. Trojan Horse (TH) could potentially distract SaleSoft from its primary objective of becoming a leader in the high end of the Sales Automation (SA) software industry. In addition, there was a risk that it would cannibalize sales from the PROCEED product that SaleSoft was currently marketing. Finally, TH could potentially prevent SaleSoft from forming relationships with consultants whose support was critical to the success of PROCEED. Yet, TH might offer an easy way for SaleSoft to get into new customer accounts, gain quick sales, and generate much needed revenues. With limited funds and the need to show performance before seeking additional venture capital, Miller and Bill Tanner, executive vice president and CFO, had to decide whether to continue trying to sell PROCEED to select customers, or to make an all out effort to launch TH to a much larger customer base. PROCEED VERSUS TROJAN HORSE Points in favor of PROCEED- 1. Well into development phase...
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...SWOT Analysis of Poundland Strength Poundland offer a range of over 3000 products,[7] with 10,000 new products featured in any year. David Coxon, Buying & Merchandising Director, defines stock as falling into one of three different categories: ongoing core lines (products bought direct from the manufacturer), seasonal ranges and clearance stock.[32] Until recently, all unbranded products stocked by Poundland, which account for roughly 70% of total stock,[11] would carry the Poundland branding and logo. However, the retailer has found that they could increase sales by removing the Poundland branding and creating around 50 sub-brands, such as Beauty Nation, Kitchen Corner and Toolbox for its value line of DIY products.[7] In total, the retailer stocks 1000 branded products,[7] the majority being food and drink,[33] and more recently have introduced eggs to eight of its stores as part of a trial, which the retailer believes is likely to be a "top 20 volume seller".[30] In 2003, The Grocer reported that approximately 400 of the chain's 2000 stock-keeping units (SKUs) are in impulse and grocery lines.[25] Food products now account for 14 per cent of store space and 28 per cent of revenue,[30] with 55% of its customers purchasing food or drink, particularly taking advantage of their multibuy offers such as four-for-£1 deals on branded crisps, confectionery and soft drinks.[34] In October 2009, Poundland launched their own range of bagged sweets branded "Sweet Heaven", in a bid to...
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...Information Systems Proposal BIS/220 Computer Information Systems Table of Contents Introduction 3 Understanding the market challenges 3 Internal operations and External operations 3 Information Technology Comparison chart 4 Technology and Information systems benefits and drawbacks 4 Bullets of successful strategy 5 References 6 Thriving as a small business in a competitive market calls for many ingenious strategies to remain afloat. As companies enter into the market they can become easily consumed, overwhelmed and sometimes unnoticeable. Opening business doors as a nostalgic record store immediately identifies a consumer demand, in efforts of remaining competitive and ultimately in business. As many internal operations are facets to efficient workplace process equating to fiscal conservatism, there are also many external factors that are paralleled. This proposal shall outline the effectiveness and detriments of many technologies and information systems that remain current in the market for small businesses today. After reviewing the consumer market drive for record store inventory, results have demonstrated the most effective method to liquidate the product inventory would be marketing. By streamlining an effective marketing campaign and a competitive edge strategy the company would have the ability to target specific audience within the context of the company’s products...
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...Yes I can Manage Assessment Task Answer Guide BSB51107 Diploma of Management BSBMGT502B Manage people performance BSBFIM501A Manage budgets and financial plans BSBMBT515A Manage operational plan flexiblelearning.net.au Acknowledgements This is a Tasmanian E-learning Innovations project output, developed by the Pharmaceutical Society of Australia, with seed funding from the national training system's e-learning strategy, the Australian Flexible Learning Framework (Framework). Project Team Yes I can Manage Content Writer Dorothy Lucardie Reviewer Tony Hughes Instructional Designer Jenni Ireland Project Manager Dorothy Lucardie Copyright statement This product has been produced on behalf of the national training system. It was funded under the 2010 Australian Flexible Learning Framework administered by the Commonwealth of Australia. © Commonwealth of Australia 2010 The views expressed in the copyright work do not necessarily represent the views of the Commonwealth of Australia. This work is copyright and licensed under the AEShareNet Share and Return Licence (AEShareNet–S Licence). The onus rests with you to ensure compliance with the AEShareNet-S Licence and the following is merely a summary of the scope of the Licence. Use of this work for purposes other than those indicated above, requires the prior written permission from the Commonwealth. Requests and notification of the distribution of Enhanced Versions should be addressed...
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...Report On Online clothing store i Report On Online clothing store Submitted To: Rubaiyat Bin Arif Lecturer, UIU Submitted By: Name | ID | Farshid iftekhar | 111 101 036 | Taufiq Hasan | 111 092 170 | Md. Hassan Siddiquee | 111 072 107 | Noor Ibne Salehin | 111 082 071 | Sec: B Date of submission: 29-12-2012 ii Letter of Transmittal 29th December 2012 Rubaiyat Bin Arif Course Instructor School of Business United International University Subject: Submission of Report on Online clothing store. Dear Sir, With due respect & humble submission, we undertook our term paper under your direct supervision & guidance. As you will notice the report consist about Online clothing store .We have discussed the report on our T-Shirt store. And this has made the report a complete and an extensive one. Therefore, we are confident of the validity of our term paper. If you have any questions or suggestion about the report, we would be happy to oblige for any further clarification. Sincerely, ---------------------------------- Farshid Iftekhar (On behafe of the group) Iii Acknowledgement All praises are due to Almighty Allah who enabled us to complete this report. This report is about “Online clothing store” on the topic we have covered by the basis of the instruction given by the Course Instructor. We would like to express our sincere gratitude & appreciation to our supervisor...
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...Yes I can Manage Assessment Task Answer Guide BSB51107 Diploma of Management BSBMGT502B Manage people performance BSBFIM501A Manage budgets and financial plans BSBMBT515A Manage operational plan flexiblelearning.net.au Acknowledgements This is a Tasmanian E-learning Innovations project output, developed by the Pharmaceutical Society of Australia, with seed funding from the national training system's e-learning strategy, the Australian Flexible Learning Framework (Framework). Project Team Yes I can Manage Content Writer Dorothy Lucardie Reviewer Tony Hughes Instructional Designer Jenni Ireland Project Manager Dorothy Lucardie Copyright statement This product has been produced on behalf of the national training system. It was funded under the 2010 Australian Flexible Learning Framework administered by the Commonwealth of Australia. © Commonwealth of Australia 2010 The views expressed in the copyright work do not necessarily represent the views of the Commonwealth of Australia. This work is copyright and licensed under the AEShareNet Share and Return Licence (AEShareNet–S Licence). The onus rests with you to ensure compliance with the AEShareNet-S Licence and the following is merely a summary of the scope of the Licence. Use of this work for purposes other than those indicated above, requires the prior written permission from the Commonwealth. Requests and notification of the distribution of Enhanced Versions should be addressed...
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...Keywords The exceptional performance of Dell Computer in recent years illustratesan innovative response to a fundamental competitive factor in the personal computer industry—the value of time. This article shows how Dell’s strategies of direct sales and build-to-order production have proven successful in minimizing inventory and bringing new products to market quickly, enabling it to increase market share and achieve high returns on investment. The Dell case illustrates how one business model may have inherent advantages under particular market conditions, but it also shows the importance of execution in exploiting those advantages. In particular, Dell’s use of information technology (IT) has been vital to executing both elements of its business model—direct sales and build-to-order—and provides valuable insights into how IT can be applied to achieve speed and exibility in an industry in which time is critical. Many of the insights gained from this case can be applied more generally to other time-dependent industries, suggesting that the ndings from the Dell case will have implications for a growing number of companies and industries in the future. build-to-order, business model, clockspeed, customer relationships, Dell Computer, direct sales, distribution channel, information technology, time-basedcompetition, virtual integration “It isn’t so much that we have a new economy, as we have a new...
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...Apply auditing concepts to test accounts receivable. 11 Describe fraud indicators in the revenue cycle and related audit procedures. 12 Evaluate the adequacy of a client’s allowance for doubtful accounts. Th om so n LEARNING OBJECTIVES Le ar ni ng ™ The overriding objective of this textbook is to build a foundation to analyze current professional issues and adapt audit approaches to business and economic complexities. Through studying this chapter, you will be able to: CHAPTER OVERVIEW This chapter illustrates the audit concepts developed in Chapters 4 through 9 by applying them to the accounts in the revenue cycle. Sales transactions are always material to a company’s financial statements and often are subject to manipulation. Many audit failures have been characterized by misstatement of sales. Because sales are often subject to misstatement, special attention is paid to the control environment and to management’s motivation to...
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