sub-discipline of human resources‚ focused on employee compensation and benefits policy-making. The basic components of employee compensation and benefits: Employee compensation and benefits are basically divided into four categories: 1. Guaranteed pay – monetary (cash) reward paid by an employer to an employee based on employee/employer relations. The most common form of guaranteed pay is the basic salary. 2. Variable pay – monetary (cash) reward paid by an employer to an employee that is contingent
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Marketing can not only be seen as a selling process‚ when it involves introducing value and creating well-built relationships among customers. Management also delivers a strong role in each critical business decision making sure it is made with full knowledge of the impact it will have on their consumers. In addition‚ Marketing is a development within a company relying on a strong foundation within a staff regardless of association or position. A company must push on an uphill climb towards profits
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(1.1) Describe various elements of the marketing process for Norainies Cookies. Marketing Process i) Situation Analysis In this process‚ this is the first step for organisation to set-up or analyse the market environment where in this step it is crucial for organisation to determine the potential to market and produce the most suitable product toward customer in order to gain profit. a) PEST analysis Where in this cases Norainies applying the PEST analysis where Norainies able
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Task 1.1 Marketing Process. Marketing involves identifying customer needs and requirements‚ and meeting these needs in a better way than competitors. In this way a company creates loyal customers. The starting point is to find out who potential customers are - not everyone will want what Noraini’s has to offer. The people Noriani’s identifies as likely customers are known as key audiences. under the marketing concept‚ Noraini’s Cookies must find a way to discover unfulfilled costumer needs
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Chap 8 1. Brand (114) -> AMA defines as “a name‚ term‚ sign‚ symbol‚ or design‚ or a combination of them‚ intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors” adds dimensions that differentiate the offering in some way from other offerings designed to satisfy the same need differences may be functional‚ rational‚ or tangible---related to the product performance of the brand differences may also be symbolic‚ emotional
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The Marketing Process HEALTH SERVICES PLANNING AND MARKETING Dr. Wendy Whitner July 18‚ 2010 1. An orthopedic group practice has decided to develop a pediatric sports medicine program. Describe at least three potential markets for this new service. Obstacles to effective competitor analysis include: ▪ misjudging industry and service area boundaries‚ ▪ Poor identification of the competition‚ ▪ Overemphasis on competitors’ visible competence‚ Normally service regions are in one geographical
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broadcast‚ license‚ or sponsor sporting events. Success: Although not required‚ a winning product is critical for generating revenue from fans; gate‚ concession‚ and merchandising‚ and companies; broadcasting‚ sponsorship‚ and licensing revenue. Marketing: all revenue sources are dependent on marketing’s 4 Ps; delivering a quality product at a reasonable price to fans by way of promotion. Internal aspects: What a sports entity does must fit with organizational objectives‚ and fan culture‚ including
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Lecture Marketing Basic Market research *Marketing research – gather the information and use it for making decisions. Making image of the company products. *Market research is conducted to understand markets-customers‚ competitors‚ and industries. Shorter- to understand a network of customers. (The understandment of prices). *Marketing research is conducted to determine the impact of marketing strategies and tactics on customers‚ competitors and industries. (It is important to know cause
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an obligation to pay. Sales and Marketing These are terms mistakingly used interchangeably. To explain the difference‚ let us go through the different processes from starting the business to handling the products to the end user and identify which is marketing and whcih is selling. 1) Study the market needs. See what the consumer wants. Marketing 2) Study the market offers. what competitors are currently offering in terms of price‚ location‚ etc. Marketing 3) Brainstorm on the approaches and
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Components of Marketing Information System MIS Marketing Information System (MIS) collects‚ analyses‚ and supplies a lot of relevant information to the marketing managers. It is a valuable tool for planning‚ implementing and controlling the marketing activities. The role of MIS is to identify (find out) what sort of information is required by the marketing managers. It then collects and analyzes the information. It supplies this information to the marketing manager at the right time. MIS collects
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