Marketing Functions
The number of Marketing Functions.
What is seven?
The two ways businesses are organized.
What are Vertical and Horizontal Organization?
To add value to the product.
What is the purpose of the 7 functions of marketing?
Inappropriate price controls, Expense, Inefficiency
What are the negative effects of regulation?
They are in charge of forming and enforcing laws against pollution.
What is the Environment Protection Agency?
Direct and personal communication with customers to assess wants and needs.
What is selling?
The traditional type of business structure.
What is Vertical Organization?
A new kind of management structure that involves self-managing teams.
What is Horizontal Organization?
To prohibit certain business activities, To control what businesses are allowed to do, and To require that certain standards be met.
What are the reasons laws are passed?
It ensures bank deposits.
What is the Federal Deposit Insurance Corporation?
Where to sell the product, how it will get there, and where it will be once it's there.
What is Distribution?
The CEO, President, Vice-President.
Who is Top Management?
The items you were required to complete for your advertising project. Hint: There are 6 things.
What is a logo/slogan, letterhead, target market letter, business card, brochure, and specialty item?
Protecting business property, Enforcing business contracts, Settling business disagreements, Setting and collecting taxes.
What were the government's original roles in business?
They regulate banks and manage money supply.
What is the Federal Reserve?
Establishing and communicating to customers the value of goods and services.
What is Pricing?
Self-Managing Teams that are organized based on the process they execute.
What is Organization by Process?
The people that carry out the orders of Top Management.
Who is Middle Management?
Licensing, wage controls, and price controls.
What are methods of government control?
They hold businesses accountable to food, drug, and cosmetic standards.
What is the Food and Drug Administration?
What is Marketing Information Management?
Focusing on the customer rather than the product.
What is Customer Orientation?
Developing new products and providing customer support
What are processes employees may be organized by?
To conserve the environment, To protect consumers, To protect competition, and to regulate workplace conditions.
What are the reasons for the government's involvement in business?
They form and hold businesses accountable to workplace safety regulations.
What is the Occupational Safety and Health Administration?