Business Objectives and Functions 3

Question 1

Market segmentations

Answer 1

divisions of market into homogenous groups of customers

Question 2

Types of promotion (Communication mix)

Answer 2

~ Sales promotion
~ Advertising
~ Public relations
~ Personal selling

Question 3

Marketing mix

Answer 3

controllable variable used to produce wanted response from target market

Types:
~ people
~ processes
~ physical evidence

Question 4

Push advertising

Answer 4

Ensuing products are available to purchase

Encouraging intermediaries to stock items

Question 5

Pull advertising

Answer 5

Persuading consumer to buy

Question 6

Pure research

Answer 6

no commercial or practical end view

Question 7

Applied research

Answer 7

obvious commercial or practical end view

Question 8

Developmental research

Answer 8

using existing technology to produce new technology

Question 9

Procurement mix

Answer 9

~ Quantity
~ Quality
~ Price
~ ‘Lead time’

Question 10

Mintzberg six building blocks

Answer 10

~ Ideology
~ Strategic apex
~ Technostructure
~ Middle line
~ Support staff
~ Operating core

Question 11

Tall business

Answer 11

~ large number of mgt hierarchal lvls

~ narrow span of controls

Question 12

Flat business

Answer 12

~ small number of hierarchical lvls

~ wide span of controls

Question 13

Mechanistic business

Answer 13

stable, efficient

suitable for slow-changing operating environment

Question 14

Organic business

Answer 14

Flexible, adaptive

Suitable for fast-changing operating environment