- What is a buyer-seller relationship? How can it vary?
Buyer-seller relationship - the bond between the seller (brand/firm) and it customers, this bond between them may be strong, weak, or it may not even exist at one point. The relationships can be base on emotions (brand makes them feel happy, feel better due to purchase) or even logic (is when a customer recognizes that they can not get a better product with an other brand/firm. Customers who believe that the product is an important part of their lives will develop a strong relationship with the product/brand; so as a result the customer feels goods about remaining loyal to the brand . The brand/firm provides a product for a price which the customer is willing to pay for exchange for that product that they like/love or makes their life easier as they see it.
- Why is integrated lever selection important in a marketing plan?
The levers allows customers to move from phases. Product – price – communication – community – distribution. Product – individualization of customers’ pages, maintains commitment which increases switching costs to the customer. It also helps them to move from the awareness stage to exploration stage. Pricing – can move customers from exploration/expansion to commitment