Bus101 Flashcards
Organisational culture
A system of shared beliefs and values that develops within an organisation and guides the behaviour of its members
Ethnocentrism
Belief that ones own group is superior to other groups or cultures
Monoculture
Culture that accepts only one way of doing things and one set of values and beliefs
Ethnorelativism
Belief that groups are equal
Pluralism
An environment in which the organisation accommodates several subcultures including employees who would otherwise feel isolated and ignored
Avoiding
Ignores the problem and pretends the problem doesn’t exist. No chance employees views will be heard
Market targeting
A set of buyers having common needs or characteristics that the company decides to serve.
Companies select segments to target and market towards
Competing
The person with most power wins. High level of assertiveness. Quick decision needs to be made.
Accommodating
Willingness of one party to place someone else’s interest above their own
Collaboration
Both parties want to use others ideas. Both sets of concerns are important. Objective is to learn more.
Market segmentation
Dividing a market into direct groups of buyers who require separate products
Eg vw built cars for low, medium and high income groups
Information search
Consumer stores need in memory and undertakes information search
Pays more attention to ads, what their friends have
Market culture
Strong external focus values stability and control
Driven by competitors
Profits and productivity over employee development
Eg Kia motors
Evaluation of alternatives
Consumers compare brands to one another
Hard for marketeers to influence this stage
Mass marketing
Mass produced and markets one product to all
