AND BUILDING SELFMANAGED TEAMS
Intrinsic Rewards-the personal satisfaction
you feel when you perform well and
Extrinsic Rewards-Something given to you
by someone else as recognition for good
work, includes pay raise,
Developing and Pricing Products
WHAT IS A PRODUCT?
Product: Any physical good, service or idea
that satisfies a want or need plus anything
that would enhance the product in the eyes of
consumers , such as the brand .
Value-Good quality at fair price. Wh
Channels of Distribution
A channel of distribution is a particular way to
direct products from producers to consumers.
Moving the product from manufacturer to the
final user is an intermediary.
Ch 4 Public Sector
Our goal is to produce the optimal
mix of output, the most desirable
combination of output attainable with
existing resources, technology and
Market failure occurs when an
imperfection in the market mechani
is a period of generally rising
prices in the economy as a whole
Increases cost of living
Each unit of currency is worth less and
buys fewer goods and services
Types of inflation
prices rise slowly and predictably
Management and Leadership
Management-The process used to
accomplish organizational goals
through planning, organizing,
leading, and controlling people and
other organizational resources.
The Functions of
Marketing activities used to communicate
to consumers about the organization, its
products, its activities, and to directly or
indirectly expedite exchanges.
The Promotional Mix
What is Marketing?
Process by which individuals and
groups obtain what they need and want
through creating and exchanging
products and value with others.
More simply: Marketing is the
delivery of customer satisfaction at a
Unity of command
Hierarchy of authority
Division of labour
Subordination of individual interest to general
Degree of centralization
Clear communication channels
Order, equity,espirit de corps
FORMS OF BUSINESS
A person wanting to set up a business has to
consider what legal form organisation should
Factors influencing this decision are:
How many owners the business is going to
What is the tax position of the business
International Power, Electronics and Materials Engineering Conference (IPEMEC 2015)
The stability analysis of 3-RPR wind tunnel test bed based on
Ziyan Shao, Wenjia Chen, Yongjin Hu, Guanjian Li
College of Mechanical Engineering, Yangzhou Univer
the marketing offering or
message is in the right place, for the
Target market to access to it.
occurs when a stimulus comes
within the range of someones sensory
Khyati ShettyDatta (MU Dubai)
Consumer behavior may be defined as the decision process and physical activity individuals engage
in when evaluating, acquiring, using, or disposing of goo
Khyati Shetty Datta (MU-Dubai)
What Influences consumer needs and their consuming behavior
Consumer buying behavior is influenced by cultural social and personal factors.
FAMILY INFLUENCE ON
Family Life Cycle Stages
1) Young Single ( Bachelor)
Stage (Xbox Kinect)
(Buy Products as an
expression of individuality
and newly achieved status)
2) Young Married
(Start up expenses )
3) Young Marri
cfw_ aaker on branding
BY DAVID AAKER
BEYOND FUNCTIONAL BENEFITS
vp/aaker on branding
THERE IS A COMPULSION to focus on a BMW, energetic with Coke or warm when
receiving a Hallmark card. Evian, with it
NONSTORE RETAIL FORMATS
Catalog and Direct-mail Retailing
Television Home Shopping
Vending Machine Retailing
Also called e-tailing and internet retailing
A retail format in w
CLASSIFYING RETAIL FIRMS
Retail industry is changing rapidly.
Over time, different types of retailers have
The most basic characteristics of retailer is retailmix .
Four elements of retail mix are particularly useful
for classifying retailers
Basic Entry Decisions
Which markets to enter?
When to enter the markets?
What scale of entry?
Wholly Owned Subsidiaries
Cross-cultural literacy - an understanding of how cultural
differences across and within nations can affect the way
in which business is practiced
important to success in international business
The International Environment
International Marketing Segmentation, Targeting,
The process of identifying countries and/or
consumers that are similar with regard to key
traits, such as product-related needs and
wants, that would respond well
School of Business
Course name and course
Bachelors of Business Administration
Business Policy and Strategy / MGT 304
Satish Kumar Sagadevan
THE FIVE GENERIC COMPETITIVE
STRATEGIES Which One to Employ ?
Why Do Strategies Differ?
Is the firms market target
broad or narrow?
Key factors that
distinguish one strategy
Is the competitive advantage
pursued linked to low costs
Competing in International
WHY COMPANIES DECIDE TO
ENTER FOREIGN MARKETS
To gain access to
To exploit core
To achieve lower
costs and economies
To spread business
risk across a wider
To access resour
The External Environment
Is the broad environmental context in which a
firms industry is situated.
Includes strategically relevant components
over which the firm has no direct control.
General economic condition
The Concept of Strategic Intent
An organization exhibits strategic intent when it
relentlessly pursues an ambitious strategic
objective, concentrating the full force of its
resources and competitive actions on
achieving that objective!
Introduction to Business Policy and
Business policy is the study of functions and
responsibilities of management, the problems and decisions
that determine the direction of the organization.