Question and answers
Question 1) what should be done by the Eco-Guardian with regards to their dealing with the Wal-Mart? Answer in detail.
It is the world known fact that "bigger opportunities come with more significant risks" but it is deals like this which make or breaks a small or medium based firm. It is evident for a company of this little stature such as Eco-Guardian to feel that they are not big enough to retaliate the “take or give away approach” of Wal-Mart, "not trusting their brand value and many other reasons, but it is essential for the firm to understand what key advantage or benefit its customer can gain because of the enterprise's product supply.
As, Jon Horsfield, a manager from a similar firm such as Eco-Guardian says that the entire process of designing, producing, delivering and receiving the payment can take more than six months at a stretch. Hence, it becomes difficult to see even a single penny until you bend over backward (Goodfellow, 2016).
It is important that now, Eco-Guardian synchronizes its supply chain in a proper manner, maintain a good cash flow by keeping a checklist of all the various stages and expected costs and lastly contact Wal-Mart and create a supply contract of a minimum, three years to five years.
It is quite alluring for small or medium sized firms to work with bigger clients keeping aside the payment and contract terms but such things can land them into trouble later on.
Question 2) Giving clear examples, identify the benefits, prerequisites, and risks which may outbreak due to adoption of social media technologies and the Internet in context of B2B
Some of the benefits of social media marketing are that B2B business can create more sales for itself, generate more lead and also huge volumes of profits. For example, one of the biggest and most popular bulk shipping and container company, Maersk Line has integrated social media marketing deep into its system. This has been done with the help of more than 30 leveraged, local as well as global accounts.
Few of the risks and repercussions for B2B business are that social media exposes or promotes their clients through the usage of social media, ignorance of local legal rules and regulation can land them into trouble at times, the online marketing teams have not yet been given a set procedure or protocol which they should follow, hence, it mean, the organization needs to work in the grey area. The level of getting sued is high, and there is no surety of being insured even if the firm has been doing everything in a correct manner. It is peculiar to notice that most of the official accounts of these B2B businesses are set up by interns or employees or marketing agencies which mean that the ownership of these accounts along with all the followers remains in their hands also, which can backfire (Marsh, 2014).
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Marsh, E. (2014, April). 7 serious business and legal risks of B2B social media marketing. Retrieved June 25, 2016, from http://blog.hubspot.com/insiders/legal-risks-of-social-media-marketing