Two of Your Employees Return from a Conference

question 54

Essay

Two of your employees return from a conference.Price has a stack of business cards and is delighted that he met so many people.Marie sheepishly says that she really only met four people.She has set up a follow-up meeting with one of them.She said the others are not interested in your product at the moment.She discloses that she helped one business owner with a school for her daughter and shared a recipe for rhubarb pie with another.Discuss who has done the better job of networking; support your conclusion.

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Definitions:

Transaction

An exchange or transfer of goods, services, or funds between parties.

Substitutes

Products or services that can replace each other in use, satisfying the same customer need or demand.

Oligopoly

Defines a market structure characterized by a small number of firms dominating the market, leading to limited competition.

Brand Loyalty

Occurs when a consumer buys the same brand’s product or service repeatedly over time rather than buying from multiple suppliers within the same category.