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Chapters 22 and 23
Mr. Hurdle's Marketing and Merchandising Chapters 22 and 23
| Question | Answer |
|---|---|
| managing | getting the work of an organization done through other people and resources |
| marketing management | the process of coordinating resources to plan and implement and efficient marketing activity |
| planning | analyzing information, setting goals, and determining how to achieve them |
| Management Functions and Activities | Planning, Organizing, Controlling, Staffing, Leading |
| Organization charts | divide work into divisions or departments and show the relationships among those work units |
| staffing | the activities needed to match individuals with the work to be done |
| leading | the ability to communicate the direction of the business and to influence others to successfully carry out the needed work |
| effective leadership | commitment and motivation, effective communications, establishing good working relationships, and recognizing and rewarding effective performance |
| controlling | managers measure performance, compare it with goals and objectives, and make corrections when necessary |
| specific controlling activities | setting standards, collecting and analyzing information, considering methods of improving performance, changing plans when necessary, solving problems, and resolving conflicts |
| controlling tools | plans, budgets, financial reports, and management information systems |
| environmental change | economy, technology, competition, and laws and regulations |
| Determining Marketing Effectiveness | Measuring Customer Satisfaction, Measuring Business Satisfaction |
| Measuring Business Satisfaction | Analyzing Goals, Financial Analysis, Employee Satisfaction |
| Benefits of Working in Marketing | Many Choices, Interesting Work, Financially Rewarding, Stable Employment |
| career area | the area of business or the business function in which you plan to work |
| Examples of career areas | marketing, accounting, information management, production, and others |
| career path | a series of related jobs with increasing knowledge and skill requirements and greater amounts of responsibility |
| career plan | identifies the progression of jobs in your career path, your plans for education, training, and experience to meet the requirements for those jobs, and a tentative time schedule for accomplishing the plan |
| Employment Levels in Marketing | Entry-level marketing, Career-level marketing, Supervisor/Manager-Level Marketing, Executive/Entrepreneur-level marketing |
| entry-level marketing | routine activities with limited authority and responsibility; requires limited education and experience; often pay hourly wage, beginning at minimum wage level |
| Examples of entry-level marketing jobs | clerk, cashier, stock-person, delivery person |
| Career-level marketing | more control over work, variety of tasks 2 complete that require specific knowledge and skill to perform well, usually involved in problem-solving and decision-making, & may have some limited supervisory responsibilities over a few entry-level employees |
| specialist-level marketing | perform very specific work in a business that requires advanced knowledge of a particular area of business operations; often considered most skilled and expert people in their part of the business |
| Examples of marketing specialists | brand and product managers, advertising account executives, lead sales representatives, marketing research specialists, and buyers |
| Supervisor/Manager-level marketing | need to have an understanding of and usually some experience working in the area for which they have management responsibilities; effective communications, human relations, and leadership skills |
| Examples of supervisors/managers | sales manager, inventory manager, customer service manager, marketing information systems manager, and many others |
| Executive/Entrepreneur-Level Marketing | most authority & responsibility; hold top positions in company; need to have thorough understanding of business principles & procedures, management & all areas of marketing; responsible for all major marketing plans & decisions made & implementation |
| Marketing Foundations | Business Principles, Interpersonal Skills, Academic Preparation |
| Business Principles | economics, accounting, law, technology, and management |
| Interpersonal Skills | communications, teamwork, human relations, decision-making, and problem solving |
| Academic Preparation | effective mathematics,writing, and speaking skills; preparation in science, psychology, and technology are often helpful; study of foreign languages is very important |
| Marketing Functions | Product/Service Management, Pricing, Distribution, Financing, Promotion, Selling, Marketing-Information Management |
| Product/Service Management | maker sure that products are safe, easy-to-use, and are perceived as a value by the target market |
| Pricing | responsible for profitability of product; need to analyze suplly and demand and set a price that will result in the sales of the company's products at a profit; plan pricing policies and determine how price will be communicated to customer |
| Distribution | where customers are located and where they prefer to purchase products or services; procedures for order processing, inventory management, packaging, shipping, and customer service are developed |
| Financing | Budgets prepared and adequate financial resources identified to pay for marketing activities; credit plans and policies may need to be development; lease terms explained and complete necessary paper work to/with customers |
| Promotion | carefully planned in order to make customers aware of company's product, provide them with necessary information so they will make a purchase, & follow up to make sure they are satisfied with the product |
| Promotion planning skills | writing, editing, design, graphics, media, and technology |
| Selling | need skills in oral and written communications, time management, human relations, planning, budgeting, and technology skills |
| selling tools | computers, projectors, PDAs, cell phones, and the Internet |
| Marketing-Information Management | need skills in mathematics & statistics, computer skills, understanding of research procedures, the ability to manage and analyze large amounts of data; communication to provide reports to other people responsible for decisions using information collected |
| Telemarketers | need product information to answer customer questions |
| Marketing researchers | select a sample of consumers to survey |
| Product managers | analyze daily sales of a brand in an important market |
| Marketing Education program | incorporates three types of complementary learning experiences--introductory and advanced courses in marketing, structured work experiences through internships and cooperative education, and a student organization called DECA |
| Career Paths in Marketing | Industry Paths and Marketing Function Paths |
| Industry Paths | automobiles, construction, the arts, entertainment, or health care |
| Marketing Functions Paths | promotion, distribution, financing, advertising, marketing research, retailing |
| advertising careers (path) | internship in an advertising agency, job in media traffic, account executive, account supervisor, director of advertising |
| jobs in media traffic | help to place ads in selected media and monitor the media to insure the advertisements are run as planned |
| marketing research careers (path) | interviewer or data analyst, survey planning and design, project director, director of marketing research |
| retailing careers (path) | cashier, stockperson, or salesperson, assistant manager, manager, assistant store manager, store manager, district and regional management, division vice-president |
| Developing a career plan | 1. Complete assessment of current knowledge, skills, and interests, 2. Study marketing careers in depth, 3. Identify education and experience requirements, 4. Make a list of knowledge and skills you will need to develop, 5. Prepare a written career plan |
| career portfolio | an organized collection of information and materials developed to represent yourself, your preparation, and your accomplishments |
| What to Include in your career portfolio | items that you believe provide the best evidence of your marketing knowledge & skills; tests, reports, & projects completed in classes, summaries of aptitude or interest tests taken, projects & activities completed in club/organization, work done 4 hobby |
| applying for the job you want | Identify Jobs, Make a Career Match, Prepare Application, Complete a Successful Interview, The Decision |
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sissiloo
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