Defenitions Theme 1 Flashcards
Marketing
The process of getting your product to as many people who need and want it as possible
Market orientation
The business reacts to what the consumer wants
Product orientation
The firm produces a product that they are good at and what they think consumers want
Primary/field research
First hand information
Laissez-faire
Leader has little input trusts staff
Autocratic/authoritarian
Holds onto as much power as possible little delegation
Paternalistic
Leader decides what’s best for employees
Democratic
Power with group as a whole
F.W Taylor
Money motivates people
Price rate
Elton Mayo
Employees motivated by relations and friendship at work
Abraham Maslow
Hierarchy of needs
Workers motivated to achieve certain things over others
5 parts to hierarchy of needs
Self actualisation
Esteem
Love and belonging
Safety needs
Psychological needs
Fredrick Herzberg
Satisfied by hygiene (salary) and motivational (recognition) factors