Question 1
Balance the following equation in basic conditions. Phases are optional.
CoCl2+Na2O2 = Co(OH)3+Cl- +Na+
(redox and oxidation reactions)
Question 2
Question 3
Discuss the nature and types of B2B (Business to Business) relationships, the Customer Lifetime Value (CLV) strategies, and the stages of B2B CRM? Strategies: A long-term policy for accomplishing something and achieving an aim, or the capacity to implement such techniques. A detailed method for achievement in circumstances like battle, world affairs, sector, or athletics, or the ability to organize for such situations.
Question 4
In the past decade, actions to protect consumers have increased. For example, the Sarbanes-Oxley Act of 2002 rose out of the Enron debacle; Edward Snowden, an ex-CIA computer technician, became a high-profile “whistleblower” reporting U.S. surveillance abuses. However, advertising has been largely unaffected by legal scrutiny. The most criticized of all marketing activities, advertising is frequently annoying, sometimes misleading and often ineffective. Many students maintain that advertising is a waste of money and that it doesn’t sway them toward purchase at all. Is that true? What is your opinion? Would you argue that advertising is pointless, that products should be able to compete without advertising standing on their own merit? Would you argue that there is redeeming value to advertising? Substantiate your opinion with an example that supports your point of view. Advertising: Advertising is the placing of products or services in paid spaces. It is done to provide more visibility to products and services, hoping that more consumers will be attracted to them and make a purchase.
Answer to question 1
CoCl2 –> Co(OH)3 & 1 e-
cobalt loses 1 e- going from Co+2 to Co+3
H2O2 & 2e- –> Co(OH)3
while O2)-2 take a total of 2 e- going from O-1 each to O-2 each
so we have to double the Cobalt to balance the electrons taken and lost:
2CoCl2 –> 2 Co(OH)3 & 2 e-
H2O2 & 2e- –> Co(OH)3
combining these:
2CoCl2 (s) + 1Na2O2 (ag) —-> 2Co(OH)3 (ag)+Cl- (ag) + Na+ (ag)
let’s balance the Na’s:
2CoCl2 (s) + 1Na2O2 (ag) —-> 2Co(OH)3 (ag)+Cl- (ag) + 2Na+ (ag)
let’s balance the Cl’s:
2CoCl2 (s) + 1Na2O2 (ag) —-> 2Co(OH)3 (ag)+ 4Cl- (ag) + 2Na+ (ag)
let’s balance the net -2 on the right by adding 2 OH- to the left:
2CoCl2 & 1Na2O2 & 2 OH- —-> 2Co(OH)3 & 4Cl- & 2Na+
we need 4 more H’s on the left to balance the 6 H’s on the right, so add neutral water:
2CoCl2 & 1Na2O2 & 2 OH- & 2 H2O —-> 2Co(OH)3 & 4Cl- & 2Na+
Answer to question 2
Answer to question 3
Answer and Explanation: The nature of B2B relationships consists of the following points: 1. There are four or more decision-makers who are directly engaged in the buying process. 2. This process is much longer than the B2C purchase process. The duration between the initial encounter and obtaining any payment is longer. 3. Price lists, special offers, and sometimes even available goods are typically more complicated in B2B than B2C. 4. This e-commerce market is frequently used to approach international markets, although in low numbers. Types of B2B relationships are: 1. Direct collaboration: In this relationship, direct collaborations are made, which are limited to simple and direct connections in industries where trust is essential, such as munitions. 2. Procurement by various parties: In this type of relationship, the partnership is not flexible as the parties involved have long-term promises and investments to fulfill. According to this channel arrangement, the goods are supplied to a single customer from different vendors. The main challenge in this partnership is to electronically enable a considerable number of vendors to cut costs and boost efficiency. 3. Vendors and agencies: Many goods are not processed directly between sellers and buyers but through intermediary networks that add value. These intermediaries are known as agents, suppliers, vendors, etc. There are two types of supplier streams: stocked and stockless. 4. Digital payment hubs, transactions, and auction sites: This new and growing form of B2B trade includes a “global market,” which provides a centralized location for various buyers and sellers to work together and share their business interests for the entire sales process. The Customer Lifetime Value (CLV) strategies are: CLV is essential to understand because it helps decide how many funds to invest in obtaining new customers and retaining current ones. Some Strategies of customer lifetime value are: 1. Enhancing the onboarding procedure. 2. Provide clients with valuable material which keeps them engaged. 3. Provide outstanding client service. 4. Develop relationships. 5. Pay attention to the clients and gather helpful feedback. The stages of B2B CRM are: 1. Vendors: The vendors provide quotations and take orders. However, in some industries, the term “vendor” is perfectly acceptable to signify where somebody falls in the distribution chain. One is regarded as a Vendor in situations where one’s services and reputation of the company attract Proposals, Invites to Tender, or other similar terms. 2. Preferred Vendor- Trustworthy Source: The trustworthy source is the level of connection in that one has established themself as a consistent and dependable supplier of goods or services. Lower management level connections may consider a Reliable Source if the vendors and management consistently meet and exceed the aspirations. The management can be relied on to offer the vendors how much the vendors desire. 3. Solution provider: The Reliable Source is a smaller portion of the customer’s fabric than the Solution Provider. This level of connection takes on a much clearer set of objectives; it is more rewarding and profound. One becomes quite knowledgeable about the client’s sector and what tends to make it successful. 4. Trusted Partner: Individuals are occasionally asked to assist in strategic planning, and senior management will frequently contact them for recommendations on issues management believes one can provide trusted advice. The number of professional service companies ends up at this level. Although not the highest level, it provides you a say in how one’s customer runs his company. 5. Strategic Business Consultant: As a strategic business advisor, one will work with executives on a confidential basis to discover evolving needs and direction, much like a consultant. At this level, there is no entry or exit in the decision-making process. The consultant is a member of the circle.
Answer to question 4
Answer and Explanation: Advertising is not a waste of money, and it influences purchasing decisions. As a small business owner, I have seen first-hand the impact of advertising on driving a company’s sales. When I started, I did not have enough money to advertise my products and only depended on walk-ins into my physical store. The business struggled to make sales, and I had to get back into my pockets to keep it afloat. A few years ago, a friend who is also an entrepreneur shared valuable insights about advertising and urged me to try it for a given period and compare the results. Since social media advertising had just started booming, I focused my efforts on advertising there. I developed an advertising budget and consistently broadcasted ads across Instagram and Facebook. The results were amazing. In a mere two weeks, our average daily sales had more than doubled. More people walked into our store than ever during the first month of advertising. It has been two years since I started doing social media advertising, and my business has grown tremendously. We now have three physical stores and have also established an online shop that has registered great results in the last year. Therefore, advertising is not pointless. There is a redeeming value to putting your product or service in front of the right eyes.