Kmart Case Study

Register to read the introduction… The use of services through a company such as Verizon would be necessary. Verizon provides high speed internet as well as telephone services to companies like Kmart to allow them to access outside of the walls of the business. Therefore, Kmart enters into a binding contract with Verizon, for a pre-determined amount of time and a pre-determined amount of money allowing Kmart to use the services Verizon provides.
Now that Kmart has the means to reach the outside world, they must purchase equipment, such as MagTek equipment, that would allow Kmart to use the Visa card allowing consumers to make a purchase on credit for goods that Kmart Provides. According to MagTek’s Website, “MagTek is a manufacturer of electronic devices and systems for the reliable issuance, reading, transmission and security of cards, checks, PINs and other identification documents.” Among the electronic devices, is a magnetic strip reader allowing consumers to use Visa credit cards to make purchases.
Kmart also has an agreement with Omnimedia, the owning entity of the Martha Stewart living products, and Craftsman, a …show more content…
Imagine the same scenario in the last few pages, but without contracts binding the many parties involved. Our consumer would set out to buy a home which they decide to do business with K. Hovnanian. On a handshake and a smile K. Hovnanian agrees to build the home, but changes things that the consumer specifically said he wanted to alter the price of the home. After a couple of weeks K. Hovnanian contacts our consumer to let them know that they were able to secure the land, but the price will be higher. Reluctantly, the consumer agrees, after all this is a dream home that is being