Marketing Foundations
Marketing activities should be aligned with these, such as increasing sales or market share.
What are business objectives?
Product, price, place and promotion are four of the 7Ps. These are the other three.
What are people, process and physical evidence?
When current employees recommend a friend or contact for a vacancy, this internal recruitment method is being used.
What is word of mouth?
A business identifies these by considering the knowledge, skills and ideas that staff can contribute.
What are staffing needs?
The ten minimum entitlements for all employees, including annual leave.
What are the National Employment Standards (NES)?
Customers, competitors and suppliers are examples of this type of environment, as opposed to the macro environment.
What is the operating environment?
In this product life cycle stage, sales rise rapidly and new competitors enter the market.
What is the growth stage?
This selection method allows face-to-face assessment of a candidate, but can be affected by interviewer bias.
What is an interview?
Flexible hours and the ability to balance job and personal life is this employee expectation.
What is work-life balance?
This document sets out an employee’s pay, hours and notice period.
What is a contract of employment? (Award/Agreement can be accepted)
Data collected first-hand for a specific purpose, using techniques such as surveys, interviews and focus groups.
What is primary data?
A business responds to a product recall or negative media story with this type of PR.
What is crisis public relations?
This selection method assesses a candidate’s personality, aptitude or suitability for the role through standardised tests.
What is psychological testing?
Using websites, online recruitment agencies and social media to find candidates is this type of recruitment.
What is external recruitment?
The highest level of Maslow’s Hierarchy of Needs.
What is self-actualisation?
Dividing a market into groups of consumers with shared characteristics, such as age, income or lifestyle.
What is market segmentation?
Promoting products and practices as environmentally friendly.
What is green marketing?
This is a key disadvantage of internal recruitment:
What is a limited pool of candidates/lack of fresh ideas/might create unhealthy competition between workers
In this selection method, a candidate completes tasks similar to those they would perform in the job.
What is work testing?
A motivation strategy that rewards employees with bonuses or commission for meeting targets.
What is performance-related pay?
Improving a website’s ranking in unpaid search engine results is known as this.
What is search engine optimisation (SEO)?
New packaging, new product variations or entering new markets are examples of these, used to delay decline.
What are extension strategies?
Developments in technology such as AI and automation may have this effect on a business’s staffing needs.
What is reducing the need for staff in routine roles and increasing the need for staff with technical skills? (One of these is ok...)
OH&S and this legislation are the two key legal obligations covering safe workplaces and fair treatment of staff.
What is equal employment opportunity (EEO)?
The termination of an employee because their position is no longer required, which is not the employee’s fault.
What is redundancy?