Marketing and Production Essentials for Businesses
Marketing and Production Essentials
Positioning defines the features you want the consumer to perceive in a product or brand name. It allows comparison between brands to identify what is most appealing.
Marketing is a set of activities designed to satisfy consumer needs and provide a benefit to the company.
Marketing Goals
- Meeting consumer needs: Strategic marketing involves activities to meet consumer needs and gain a competitive advantage.
- Profits for the company: Operational marketing uses activities
Understanding Customer Value, Retention, and Loyalty
Customer Value Analysis (CVA)
What do customers want from our organization? What aspects of our products or services do customers value? A total quality organization must know the answers to these questions. Organizations that don’t know what their customers value risk wasting valuable resources and improving the wrong things. The process used to determine what is important to customers is called Customer Value Analysis (CVA).
The CVA Process
The CVA process consists of the following five steps:
- Determine
The Generation of ’98: A Literary Movement
Concept and Members of the Generation of ’98
The Generation of ’98 refers to a group of writers who, sensitized by the Spanish-American War of 1898 and attentive to the evolution of literary thought outside Spain, initiated a movement of social protest and renewal of Spanish letters. While the list of members can be extensive, there is general agreement that the following writers belong to this Generation:
- Miguel de Unamuno
- Ramiro de Maeztu
- Ángel Ganivet
- Pío Baroja
- José Martínez Ruiz (Azorín)
- Ramón
Business Structures, Environment, and Social Responsibility
External Growth Forms
- Fusion: Occurs when two companies unite, dissolving their individual legal personalities to form a new, larger company.
- Absorption: Occurs when one company purchases or acquires another, resulting in the absorbed company losing its legal personality.
- Holding: Occurs when a company gains control of other companies by buying a majority of their stocks and shares.
- Trust: A consortium comprising companies involved in different phases of the production of a product.
- Cartel: An organization
Ace Your Personal Selling Exam: Key Concepts and Questions
Personal Selling Exam: Practice Questions
- A completely memorized sales presentation is called a(n):
- Canned presentation
- Personal selling includes:
- Persuasion
- Building relationships with customers
- Getting an order
- Helping customers identify problems
- A person who _____ would probably find a career in sales attractive.
- Likes independence and is willing to take responsibility
- Which of the following is NOT an example of one of the rewards inherent in a sales career?
- A good-paying nine-to-five job
- The primary responsibilities
Organizational Structures and Departmentalization
Organizational Structures
A) Linear or Hierarchical Structure
This structure is the most straightforward. Orders originate from top management and cascade down to lower levels. It’s suitable for small businesses. Disadvantages: Slow communication, lack of specialization, and senior managers can be overwhelmed with administrative details.
B) Line and Staff Structure
This structure combines direct authority with advisory support. Line departments handle decisions, while staff departments advise and perform
Read More