Motivator factors include achievement recognition the work responsibility

Motivator factors include achievement recognition the

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Motivator factors include: achievement, recognition, the work, responsibility, promotion, and growth McClelland Three Need Theory: o Need for achievement o Affiliation o Power Controlling – Management establishes and oversees the control necessary to ensure that the business is working toward goals Bureaucratic Market Clan – sense of benefit that employees gain from working together Marketing – Production Sales Marketing Relationship Marketing Strategies- Target market Marketing mix (4 P) o Product o Price o Promotion o Place – refers to distribution 1 st Step in Marketing Process- Identifying a market need Market research how to fultill need Identify the target market Develop market plan o Include SWOT analysis o The target market o The product o How it will be produced, priced, promoted and distributed Implement the plan Market Segmentation – Geographic Demographic Psychographic (lifestyle, personality traits, motives, values) Behavioral (benefit sought, volume use, brand loyalty, price sensitivity and product end use) Consumer Behavior Influences- Psychological Personal Social Cultural Situational Marketing mix Consumer Decision buying –
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Need/problem recognition Information search Evaluation of alternatives Purchase decision Post purchase evaluation Business to Business (B2B) – Business buyers are trained professionals specialize in purchasing Few in number compared to millions of potential consumers Sellers and buyers develop close relationships over time that facilitate purchasing Consumer Goods – Convenience - milk and bread Shopping – goods subject to comparison shopping (laptop computer) Specialty – hand made clothing or wedding dress Unsought – (life insurance, burial plots) Business to Business (B2B) Goods – Equipment Maintenance Repair Operating (MRO) Raw and processed materials Components Professional services Product Mix – number of product lines, all the products, including peripherals Product Life Cycle – Introduction Growth – competitors enter market Maturity – o May consider a cash cow approach (investing little money in product development) Decline Product Marketing – Branding - name, slogan, symbol, design to differentiate from others o Brand recognition o Brand preference o Brand insistence Brand Types – o Generic o Manufacturer’s or national o Private o Family o Individual o Licensed – allowing others to use name or logo o Co-branding – joining together two names on the same product Packaging o Safeguards the product o Meant to discourage stealing o Promotes product/brand
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o Lists features and benefits o May add utility o Environmentally friendly “green” Product Price – Maximize profits Build market share Build traffic Maximize sales Foster an image (low price or high value) Price Strategies
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