Production
The 6 Factors of Production
What are: Natural Resources, raw materials, labour, capital, information and management
These are the four stages of the production process.
What are purchasing, processing, quality control and grading?
This is where employers meet employees
What is the labour market?
These are two ways of measuring the impact of marketing.
What are sales and consumer reactions to the brand?
These are the four Ps of marketing
Product, Price, Place, Promotion
This, often, is the most expensive factor of production.
What is Labour?
These are any goods used in the manufacturing of other goods.
What are raw materials?
This segment of the labour market requires some instruction.
What is a cashier?
This is brand loyalty.
What is when customers prefer and support your brand?
They are the two Cs of marketing
What are competitive and consumer markets?
The net worth of a business is this.
What is Capital?
The main job of the purchasing department is this.
What is to acquire the raw material at the best price and time?
These 3 documents may be included in the application process.
What is an application, cover letter and resume?
Desktop computers are in this stage of the product life cycle.
What is the decline?
Amazon achieves this by selling goods and having a great delivery service.
What is the Product/Service Mix?
These are the 6 most common types of natural resources primary industries provide.
What are agriculture, fishing/trapping, mining, water, fuel/energy, logging/forestry?
What are transportation, taxes, duties...
During this process, the HR department introduces new employees to policies on compensation, work hours, benefits, code of conduct, etc.
What is orientation?
At this point, the business must decide if the brand will reposition, attempt new promotions and pricing or discontinue production.
What is the decision point?
How much sales will go up or down when the prices goes up or down is based on this.
What is price sensitivity?
The 2 categories raw materials can be broken into.
What are ingredients and supplies
An organization that sets worldwide standards.
What is the ISO?
A baker is this type of labourer.
What is an example of a professional labourer?
I wore leg warmers and had a pet rock because I love these.
What are fads?
The packaging, features and benefits of a good are part of this element in marketing (one of the 4 Ps or 2 Cs)
What is product?