business functions Flashcards
two different approaches to HR?
hard vs soft approach= hard emphasises the resources aspect and soft emphasises the human aspect
what is the harvard 4 c’s model of HRM?
commitment, competence, congruence and cost-effectiveness
guidance for managing an IT function?
monitoring, planning, structure, staffing and skills
What is a marketing orientated business?
one which accepts the needs of potential customers as the basis of its operations = success based on developing and marketing products which satisfy those needs
sales orientation?
i.e. pressure selling= purpose is to sell more of the product or service which they already have available
production orientation?
business is preoccupied with making as many units as possible
product orientation?
the company falls in love with its product- often seen with high-tech industries
customer
the person who purchases and pays for a good or service
consumer
the ultimate user of the good or service
what goods are sold in consumer markets?
FMCG’s and consumer durables
what are industrial markets?
B2B e.g. oil
what is marketing segmentation?
division of the market into homogenous groups of potential customers that may be treated similarly for marketing purposes
markeitng mix?
set of controllable marketing variables that a firm blends to produce the response it wants in the target market- kotler
what are the 4 p’s of marketing mix?
product, price, promotion, place
what are the 4 types of promotion?
sales promotion, advertising, public relations, personal selling
pull promotion?
persauding the ultimate consumer to buy