Understanding the Marketing Mix and Service Expectations
The Marketing Mix: 7 P’s
The marketing mix consists of key elements that companies use to market their products or services:
- Product: Physical good features, packaging, accessories, branding, product-support services.
- Place: Channel types, exposures, transportations, outlet locations, storage.
- Promotion: Salespeople, advertising, sales promotion, publicity, internet web strategy.
- Price: Flexibility, price levels, terms, discounts, allowances.
- People: All human actors who play a part in service delivery
Financial and Non-Financial Reward Systems in Business
Payment or Financial Reward Systems
Hourly Wage Rate:
- Payment to a worker made for each hour worked.
- Offers security to workers but is not directly linked to effort.
Piece Rate:
- A payment to a worker for each unit produced.
- If set too low, it could demotivate workers, but if too high, it could reduce incentives.
Advantages:
- Encourages greater effort and faster work.
- Labor cost per unit can be determined in advance.
Disadvantages:
- Requires output to be measurable and standardized.
- May lead to falling quality.
Globalization and Cultural Insights: Japan
Understanding Globalization and Its Drivers
Historically, nations maintained absolute control over the products, people, and capital crossing their borders. However, today’s economies are increasingly intertwined. This growing interdependence signifies a freer flow of goods, services, money, people, and ideas across national borders. Globalization is the term for this trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies. It
Read MoreDemocracy, Sustainability, and Environmental Policies
Democracy’s Etymological Concept
The etymological concept of democracy has its roots in Greek culture. The prefixes *demos* and *democracy* literally mean:
B) People, Power, and Government
Defining Sustainable Development
Sustainable Development is development that meets the needs of the present without compromising the ability of future generations to meet theirs.
D) Sustainable Development
Matching Strategies with Purposes
Here are two columns: the first lists a number of strategies at a personal level,
International Human Talent and Global Mobility
International Human Talent
International Human Talent: Taxation can play a significant role in an individual’s decision to live in a country or relocate. Portugal has implemented several programs to attract foreign residents. The most well-known is the Non-Habitual Resident (NHR) tax regime, but there’s also the “Regressar” program for returning Portuguese citizens, double taxation agreements, and special statuses for diplomatic missions and international organizations. Taxation and Social Security
Read MoreOrganizational Structure and Principles
Organization
Organization involves the identification and classification of required activities, grouping activities to meet goals, assigning activity groups to an administrator, and establishing horizontal and vertical coordination.
Principles of Organization
- Principle of Specialization: The organization is based on the division of labor, leading to specialization, which increases the quantity and quality of work.
- Functional Definition Principle: Each person’s work, body, and relationships of authority