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Flashcards in Introductory Cocepts In Marketing And Public Relations Deck (6)
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Explain Michael Porters value chain

1. Can be used as a systematic means of examining all of a business functional activities and their effectiveness in creating customer value.
2. It is preceded by the entrepreneurial process, start up of the business and general management and leadership consists of 5 primary and 4. support activities that are influenced from the external business environment.


Explain Primary activities of Michael Porters value chain.

1.Inbound logistics - material handling and delivery
2. Operations - manufacturing and assembly
3. Outbound logistics - order process and shipping
4. Marketing and sales - product, pricing, place and promotion
5. Service - Customer service and Repairs


Explain Support Activities of Michael Porters value chain

1. Infrastructure/ communication - Activities, costs and assets associated with all communications in the business to the public and market environment.
2. Human Resource management - all Activities, costs and assets associated with recruitment, development and compensation of all types of employees and labour relation activities.
3. Technology/ e-management - application of technology or e-management in the business
4. Purchasimg/procurement - all activities relating to utilization and control of the money the business requires to finance its activities.


3 Areas of planning in an organization

1. Stratetig plans - involve the whole organization, long-term 5 years plus, focus on macro environment. Involves mission, vision and strategic goals.
2. Tactical plans- involve functional areas, medium term 1-5 years, Focus on the market environment. Involves functional goals.
4 Operational plans - involve work units, short term up to 1 year, focus micro environment, involves work unit objectives.


Name sub-categories of the macro environment

Political environment, the institutional environment, the economic environment, the social environment, the technical environment, the international environment, the ecological environment, the legislative environment


Difference between micro and macro marketing

Micro marketing-- refers to all activities which are performed to reach the business objectives which are set by the leadership of the business.
It is done by anticipating conser needs and directing a flow of goods or services which will satisfy these needs.
Macro marketing - social process that concerns the whole economy.
It describes how the whole system works within a society.
It is determined by the economic system of a country.