Long Term Relationship between a Buyer and a Seller - Example

The paper "Long Term Relationship between a Buyer and a Seller" is a great example of a report on marketing. An evaluation criterion for a specific product is directly related to the genre of the product. Since the product that has been appropriated is the Compaq Presario, one has to look at the standing of the product in its specific market in order to ascertain the evaluation criteria that any consumer will attach to it. We know that the Compaq Presario positions itself in the personal computer industry as a highly specialized product and the pricing strategy is also synchronized with this idea in mind. Therefore, any customer who decided to buy a Compaq Presario will conduct a simple cost/benefit analysis based on the specific features of the product that distance it from its competitors in the market. So, it becomes abundantly evident that the basic premise of the argument lies upon the trade-off between the price that is charged by the Presario and its brand image and product performance and satisfaction

Marketers can greatly influence this decision by taking into account the key features of the Presario that distances it from its competitors i.e. they should strengthen and amplify the brand image that is projected to the audience with regards to their specific products by highlighting the USPs of the products and by also appealing to the usual standards of measurement of consumer satisfaction i.e. product performance, after-sale services, etc, which would help establish and influence the product’s rating in the eyes of the consumer, therefore, marketing the product to the target consumers in a more pertinent and effective way.

Section 2: (1)

Given the highly specialized nature of the products at hand, it is clearly apparent to see that the brand specifications play a huge role in the perception of the marketer of a Compaq Presario. This is largely due to the specific nature of the product whereby the product is not merely a one-stop sell for the marketer and the consumers of the product need to establish a good connection with the seller as the product is subject to after-sale services and value-added products. In addition, the specific outlet that is used by a customer to buy a Compaq Presario also plays an important role in this specific case as the choice of outlet also plays into the brand image of the product, which inspires a consumer to buy this specific product. A reputable outlet augments the brand image of the Compaq Presario as the reputable image of the outlet translates into a better repute of the product in the eyes of the consumer which might aid their decision of choosing this product as the product of their choice. Unfortunately, the counter-statement of this argument is also true and an outlet with a tarnished reputation might eventually prove to be the major stumbling block for a consumer who was going to choose a Compaq Presario as their personal computer of choice.

Section 2: (2)

After-sale service will prove to be the major benchmark across which the people choose to evaluate their level of satisfaction with regards to the product at hand. Value-added services also play a key role in this regard; services that include additional products that might be used in collaboration with the major product in order to increase the range of services provided by the major product at hand. If a consumer is provided pertinent after-sale services whereby they are able to achieve repairing services and value-added services as it has been already mentioned, then it is safe to assume that a consumer satisfaction would not be far off in this case.

Consumer dissatisfaction can be reduced by providing some after-sale services free of charge, services which might include post-sale system check-up, value additional products, etc, all of whom will enhance the brand image of this product in the eyes of the consumers and reduce the dissonance in the eyes of the consumers.

Product appraisals provided by the consumers will also assist the marketers in further establishing the brand image of the product in the eyes of the consumers, all of which will further assist in decreasing the dissonance of customers with regards to our product. Consumer satisfaction will also be gauged by these performance appraisals and this will also assist the marketers in determining whether the consumer will personally or by liaison initiate a repeat purchase of our product.

Section 2:  (3)

            Trust and a long term relationship between a buyer and a seller is a slippery slope as one person will be paying to retrieve a product that has been created by the other; therefore, any disapproval or unconstructiveness on the part of the customer with regards to the product of our choice will certainly tilt the balance against the marketers. Therefore, the best practice for marketers in order to create trust and a balanced long term relationship with the final consumers has to be based on the Golden Rule: ‘Do unto others what you would have others do unto you.’ A marketer has to depict a brand image to the consumer exactly similar to the one they would want to be portrayed to themselves so that the consumer can feel secure that they are not being treated unfairly in any respect. This would create a level of trust between the marketer and the final consumer which will lead to a fruitful long term relationship between the marketers and the final consumers of the Compaq Presario.