Organisational Culture & Committees Flashcards
CHAPTER 7 (22 cards)
Best purchasing mix
- Price
- Quantity
- Quality
- Delivery
Define marketing
Management process which identifies, anticipates & satisfies customer needs profitably
Explain promotion [Marketing Mix]
‘AIDA’
Awareness
Interest
Desire to purchase
Action in purchasing
Price penetrating
Prices pitched at low level in the early stage of PLS
Price skimming
Prices are set very high to maximise profit
5 observable aspects of culture
-Customs
- Rituals
- Artefacts
- Beliefs & values
- Symbol
Power culture AKA
Zeus
Role culture AKA
Apollo
Task culture AKA
Athena
Person culture AKA
Dionysus
Joint committee
To co-ordinate the activities of 2/more committees
Management committee
Contains executive at a number of levels
Executive committee
Have the power to govern/administer
Production orientation
D>S
Customer will buy whatever we produce, make as many
Product orientation @ Variant of production orientation
Add more features to product (doesn’t research what customer actually wants)
Sale orientation
Customers are sales resistant, product must be sold actively & aggressively
Marketing orientation
Determine need, want & values of a target market , adapt to deliver it
Extended marketing mix [Service organisation]
4Ps +
- People
- Process
- Physical evidence
Mass marketing @ undifferentiated
Go to whole market at one standard offering
Targeted marketing
Target one particular market segment
Differentiated marketing
Target several segments with different marketing mix
Financial management vs Management of finance
FM ; strategic handling of a company’s monetary resources
- Investment, financing, dividend , operating that affect profit decision
Management of finance :
- Handling of cash & invoices
- Recording affairs of business in book of accountd
