Organizational Direction - DECA Ontario



SPPresent an advertising campaign to clients An advertising pitch describes the proposals of an advertising agency to promote a product or service. The pitch states the objectives for the campaign and describes how the campaign will deliver its intended results. Companies request advertising pitches so that they can select the most suitable proposal from a number of advertising agencies. A successful pitch should demonstrate that an agency can use the marketing budget effectively to create greater value for a brand. Arrange a meeting to make your pitch. Bring any other members of your team to the meeting so that the client company knows who will be working on its account if your pitch is successful. Ask the client to ensure that everyone involved in the selection decision will be present at the meeting. Bring any essential equipment, such as a laptop, projector or flip chart, to the meeting.Thank the client for the opportunity to pitch and introduce your team. Describe your credentials and state why your firm can meet the campaign requirements. State the objectives for the advertising campaign and explain how you will measure results against the objectives. If the objective is to generate quality leads for the sales force, state your target for number of leads.Profile the target market for the advertising campaign and present any market research that you have carried out. Describe the target audience and detail their product preferences. Explain how your advertising messages align with the product factors the audience rates as important. Show how your messages differentiate the client's product from those of competitors.Present the creative proposals for the campaign. Show press advertisement proposals in-situ in a mocked-up newspaper or magazine to demonstrate impact. Make a test video of a television or cinema commercial, rather than presenting the proposal on a two-dimensional storyboard. Present any available results you have obtained from concept research. Advertising researchers monitor response to different concepts, helping to validate proposals,. Present the media proposals for the campaign, explaining why the selected media represent the most cost-effective strategy for reaching the target audience.Provide the client with a proposed budget for the campaign, including creative, media and production costs. Where possible, compare the campaign costs with the forecast results to demonstrate value for money and return on investment. Go through the campaign schedule, setting out key dates for detailed creative proposals, client approvals and publication. Restate the key measurements for the campaign.Summarize the key points of your pitch and state why you believe your pitch will help the client's team meet its marketing objectives. Invite questions from the client team. Thank the client team members for their time and ask when they will make their decision on the winning pitch.SPRepurpose content for use in multiple platforms SP“Sell” ideas to others (see Sell ideas to others)CSAccept checks from customers SPAccess information in the database system CSAcquire knowledge of client's products/brands CSAcquire product information for use in selling SPAct as a liaison (e.g., between agency and others, between creative department/agency) CSAdapt communication to the cultural and social differences among clients Participants should explain that communication is the process of exchanging messages between a sender and a receiver. They should identify that one must be an effective communicator, in terms of both sending and receiving messages, to be successful in adapting communication to the cultural and social differences among clients. Some of the areas of communication that the participant should identify are:effective listening skills – this allows a person to identify the purpose of the speaker, give feedback, and evaluate the speaker’s message barriers to communication – can be impeded by the distance and position from the speaker, or verbal impediment through the use of vague or unclear language non-verbal cues – a person’s tone of voice, emphasis and body language are critical because they often communicate as much as (if not more than) the speaker’s actual wordsParticipants should identify that cultural and social differences occur among clients and the most successful way to adapt their communication to these differences is to ask questions, observe and listen for feedback. They should watch for non-verbal feedback and respond appropriately when given. They must alter their sales approach, as they should for all clients (no two clients are the same and the same sales approach will not work on everybody). Adaptability, thinking on one’s feet, creativity and responding to feedback are all tools that they should employ when communicating with clients. The main focus of marketing today should be to create effective communication methods and a communication mix appropriate to each of the diverse groups active in the market.Diversity marketing recognizes the influence of cultural programming and acknowledges that different consumer groups have life experiences in different cultural and social settings. Because of this different cultural programming, the tastes, values, expectations, beliefs, ways of interaction, ways of entertainment, and lifestyle preferences of these groups tend to be different from others. These differences require the creation of customized marketing strategies.SPAdapt written correspondence to targeted audiences Choose appropriate methods of delivering the written correspondence (email? letter? social media?)Writing in a style appropriate to the audienceHow formal or informal should the writing be (official correspondence must be formal)Provide context so that the information supplied makes senseConsidering how much information and detail the audience will needAvoiding specialist terms. “Translate” these to make yourself understood by a general readerEnsuring the intended meaning of the sender and the interpreted meaning of the receiver are one and the same. Effective communication exists when the message is fully understoodCSAdhere to company protocols and policies SPAdjust communications plan Adjust prices to maximize profitabilityPQAdjust to change Globalization and technology continually change the dynamic of work environments and the business cycle at large.In order to succeed as a business, workers must learn to adjust to these changes.Once a company adopts philosophies, procedures, and protocols reflective of a change, employeesSPAdminister questionnaires Advertise to communicate promotional messages to targeted audiencesSPAllocate merchandise to stores/regions It is vital to have the right products in the right places at the right time to satisfy consumer demand and promote loyalty.Balance sales and inventory by store volumePinpoint demand in great detail – know which items are selling where. Use software that will track great quantities of data. Train employees to understand and make the most of the information gleaned by the anize and track merchandise by class, and subclassAutomate reordering and distributionAnalyze business systems and proceduresDoes the company have a Code of Conduct that explains the company’s expectations with respect to ethical situations?There is a Code of Conduct for accountants from the professional organizationAccording to the Code, is the employee required to report stock purchases based on company information (e.g. Legal insider trading)Has there been training ethics in the company? Example—a workshop in dealing with ethical dilemmasIs there whistleblower protection?Has the company culture set a moral tone and expectations?Does the leadership in the company act ethically?Participants should outline the role and necessary action of the operations/loss prevention team within the business system. Ideas might include:Recommending and enforcing a safe warehouse layoutAssessing the current employee training program as well as recommending training changes to the HR department for them to enforceEvaluate current security systems and make recommendations for further action to reduce theftParticipants should make the connection between the impact of the operations/loss prevention team on the procedures of other departments and the success of the business as a wholeCSAnalyze company resources to ascertain policies and procedures A set of policies are principles, rules, and guidelines formulated or adopted by an organization to reach its long-term goals and typically published in a booklet or other form that is widely accessible.Policies and procedures are designed to influence and determine all major decisions and actions, and all activities take place within the boundaries set by them. Procedures are the specific methods employed to express policies in action in day-to-day operations of the organization. Together, policies and procedures ensure that a point of view held by the governing body of an organization is translated into steps that result in an outcome compatible with that view.SPAnalyze competitors' offerings SPAnalyze costs/benefits of company participation in community activities SPAnalyze customer behavior (e.g., media-consumption, buying, etc.) Analyze customer needsPQAnalyze employer expectations in the business environment employers expect a lot of things from their employees, including cooperation, initiative and a strong work ethicemployees need to display a willingness to follow directions, to learn job tasks and skillsevery job is very different and so their job descriptions, employers expect employees to ask questions and show a desire to learn the job and perform it wellemployers hire people who they feel will help their company earn more money, or do better to contribute to the success of the company, no matter their role in the businessemployers expect a positive attitude, dependability, willingness to continue to learn/grow, initiative and cooperationthey also expect workers to adapt to the environment quickly and maintain a positive environmentSPAnalyze impact of specialization/division of labor on productivity SPAnalyze information from suppliers SPAnalyze market information SPAnalyze marketing communications careers to determine careers of interest SPAnalyze narrative text (e.g., sorting, classifying/categorizing, identifying patterns, interpreting, selecting mechanical analysis approaches) SPAnalyze product information to identify product features and benefitsStudents might discuss any of the following: the reasons for product/customer loyalty at the moment, advantages and disadvantages of each delivery service and guaranteed delivery time, the price they will charge for delivery (who are the customers that will use this extra service), the company’s competition, or potentially needing a more significant online presence.SPAnalyze product information to identify product features and benefits Students might discuss any of the following: the reasons for product/customer loyalty at the moment, advantages and disadvantages of each delivery service and guaranteed delivery time, the price they will charge for delivery (who are the customers that will use this extra service), the company’s competition, or potentially needing a more significant online presence.SPAnalyze product information to identify product features and benefits Analyze the impact of specialization/division of labor on productivityAnalyze the impact of technology on buying and merchandisingSPAnalyze the impact of technology on marketingParticipants should be able to demonstrate some of the significant impacts that technology has had in marketing and particularly as they apply to this situation. The participant’s address may include:Technology has created many new marketing strategies for goods and servicesCustomer relationship management (CRM) involves finding customers and keeping them satisfied through a variety of means – database marketing – creating and maintaining customer lists – with technology these can be created with e-mail, on-line purchases, and web site visits – also on-line customer surveysThe internet has increased a marketer’s ability to measure effectiveness, track customer buying behaviour, conduct research and manage dataMarket research can use technology to automate telephone research and provide interactive focus groups onlineTechnology has provided new platforms for distribution and collection of information – on-line sales; Internet: social media; delivery of sales and promotions via smart phonesTechnology has introduced new media channels to marketers.Television advertising has less impact than it used to.Consumer has greater choice in what is viewed, when it is viewed and how it is viewedTechnology has made distribution simpler. Internet allows much greater reach with lower costs.Marketers must have a social media strategy (Facebook, Twitter...)SPAnalyze the impact of technology on retailing E-tailing makes it easier for the customer to shop from home at their convenience. Successful e-tailing requires clean, organized and informative websites. The technology must be easy to use and the websites must maintain the image the business is trying to portray. Since e-tailing customers do not have the opportunity to talk to customer service personnel, the website must provide them with the information they require. Successful e-tailing can allow stores to use their store space more effectively. Fewer products could be kept in the selling area and if the website becomes popular, less sales personnel will be required in the store.Participants should be able to demonstrate some of the significant impacts that technology has had in marketing and particularly as they apply to this situation. The participant’s address may include:Technology has created many new marketing strategies for goods and servicesCustomer relationship management (CRM) involves finding customers and keeping them satisfied through a variety of means – database marketing – creating and maintaining customer lists – with technology these can be created with e-mail, on-line purchases, and web site visits – also on-line customer surveysThe internet has increased a marketer’s ability to measure effectiveness, track customer buying behaviour, conduct research and manage dataMarket research can use technology to automate telephone research and provide interactive focus groups onlineTechnology has provided new platforms for distribution and collection of information – on-line sales; Internet: social media; delivery of sales and promotions via smart phonesTechnology has introduced new media channels to marketers.Television advertising has less impact than it used to.Consumer has greater choice in what is viewed, when it is viewed and how it is viewedTechnology has made distribution simpler. Internet allows much greater reach with lower costs.Marketers must have a social media strategy (Facebook, Twitter...)SPAnalyze the use of central buying Apply active listening skillsSPApply approaches to increase participant cooperation with data collection Apply decision making business principles and techniques to a situation with an ethical dilemma.Unstructured, non-programmed problem—this is a unique situationSeek information from experts—lawyers, accountants, Board of Directors, Human Resource DepartmentFind proof of the situation—is the anonymous tip accurate?Reduce the uncertainty of the situation—gather informationDilemma – no clear answer; potential for misinterpretation and conflict of interestFormalized model – consistency in approachAsk questions: Is it fair? Is it right? Does it enhance the reputation of the firm? Am I comfortable if the press released my decision?Honesty/transparencyApply effective listening skillsCSApply ethics to digital communications SPApply for a consumer loan CSApply information to accomplish a taskTo follow through and successfully accomplish a task, you need to do the following:Organize thoughts and activities wellTake time out to reflectNot operate in crisis modeKnow who needs to be in the loopHave a fundamental desire to complete thingsSet deadlinesShould a loan be granted for the whole amount or part of it, the following steps will be taken:Contract signed (principal, interest, term, amortization period, payment schedule)Date set for money to be deposited into the business’s accountSPApply marketing analytics SPApply mathematical modeling techniques SPApply methods to treat missing data SPApply project-management tools to monitor and communicate project progress PQApply written directions to achieve tasks CSArrange delivery of purchases SPAscertain employee’s role in meeting organizational goalsThe intent of organization goals is to focus employees’ efforts to attain those goals. Employees involved in attaining these goals will be more engaged, productive and efficient in their day-to-day effort, and will remain with the business longer because they have some ownership in the company’s success. Effective goal management is about getting every employee to use and develop their talents, skills and experience to help the organization meet its overarching goals.The organization’s goals are to rebuild the finance department, and, to find areas of improvement to sustain company growth As Director of Finance, rebuilding the finance department will entail assessing the existing department – work and employees – determining how to streamline or improve the kinds of work being done – listening to department employees’ ideas – fitting the skills of employees to that work – building individual’s skill setsAs Director of Finance, finding areas of improvement to sustain the company growth will entail: researching the history of the company; learning from the head of the company what specific goals and long-range direction the business has; knowing from your own experience what practices are or could be incorporated to align the department with the company goals; communicate expectations and company direction to the department and get input from them; set measurable goals for each employee and assess annual performance based on these thingsPQAsk relevant questions SPAssess appropriateness of marketing research for the problem/issue (e.g., research methods, sources of information, timeliness of information, etc.) Participants should make the connection between business records and business decisions based on those records. Points to address this may include:Inaccurate records could lead to an under or over projection of the business’s financial position in its financial statements.Since these statements are used to make business decisions by management and investors, it can lead to misinformed business decisions as well as billing and delivery errors.Business records are also used as reference points if and when the company is audited, thus these records must be accurate and maintain for future use.Assess community relations opportunities for sportAssess customer/client needsONAssess global trends and opportunities for business ventures CSAssess information needs A needs assessment is a systematic process for determining and addressing needs, or "gaps" between current conditions and desired conditions or "wants". The discrepancy between the current condition and wanted condition must be measured to appropriately identify the need. The need can be a desire to improve current performance or to correct a deficiency. A needs assessment is a part of planning processes, often used for improvement in individuals, education/training, organizations, or communities. It can refine and improve a product such as a service a client receives. It can be an effective tool to clarify problems and identify appropriate interventions or solutions. By clearly identifying the problem, finite resources can be directed towards developing and implementing a feasible and applicable solution. Gathering appropriate and sufficient data informs the process of developing an effective product that will address the group’s needs and wants. Needs assessments are only effective when they are ends-focused and provide concrete evidence that can be used to determine which of the possible means-to-the-ends are most effective and efficient for achieving the desired results.Assess long-term value and impact of actions on othersConsider the intent of your actions.?Think about how your actions influence all your customers?Consider the alternatives available to you?Assess the needs of other customers Adjust to the needs of customers on an ongoing basisExpress the intent to listen to customer requests and needsExpress a desire to be open-minded and always improving Awareness takes time, patience, and developmentAssess marketing information needsAssess what information is required – need to know nature of competition (hotel industry)Need to determine specific target market and competitive advantage required to attract this marketUse SWOT (Strengths, Weaknesses, Opportunities, Threats) to determine where you stand in relationship to other competitorsAn excellent answer will discuss information needs in relation to target markets, trends and competition and propose collection strategies (i.e. Sales reports/customer satisfaction surveys)PQAssess personal behavior and values PQAssess personal interests and skills needed for success in business An important part of attracting the right talent for a job is job analysis – a detailed study of the specific duties in a particular job and the human qualities required for that job.These specific interests and skills desired in a candidate must be communicated through the job description such that applicants can fairly assess whether or not their interests and skills are best suited for the role.The HR representatives, through the hiring process, can then do the same assessment for each candidate who applies and qualifies for an interview based on the qualities represented in their resumes. This allows for careful recruitment of qualified, interested, and motivated individuals who are prepared to commit to a positive work environment.As the business grows, job descriptions may change along with the skills needed to perform. Professional development opportunities (i.e. technical courses, training programs, etc.) must be provided to encourage employees to improve themselves and keep up with the evolution of the industry.PQ590994548260Assess personal strengths and weaknessesStudent answers could take a number of different forms. A good business related way of answering would be to apply the SWOT Analysis to their own-self.SWOT Analysis: A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, straightforward model that assesses what an organization can and cannot do as well as its potential opportunities and threats. The method of SWOT analysis is to take the information from an environmental analysis and separate it into internal (strengths and weaknesses) and external issues (opportunities and threats). Once this is completed, SWOT analysis determines what may assist the firm in accomplishing its objectives, and what obstacles must be overcome or minimized to achieve desired results. SPAssess product-packaging requirements Some of the requirements might include:a box large enough and strong enough to hold the productcareful placement of the logo so that customers are able to recognize the brandclear instructions for cooking and storage if neededParticipants may include a visual created during the prep time of what their ideas are for the packageGreen packaging – compostable, reusable, recyclable – sustainable resources used in packaging – minimal packaging where possibleFull disclosure in labeling – labeling as a means of promotion and branding – use the label to sell the unique nature of this product linePackaging – must give impression of quality – will enhance contentsSPAssess prospect's needs in relation to product offering ONAssess risks of personal decisionsSPAssess the impact of technology on marketing research Assess the need to use promotersSPAssess the services of professional organizations in marketing SPAssess the services of professional organizations in marketing communications SPAssess the services of professional organizations in marketing research SPAssess the services of professional organizations in selling SPAssign codes to each product item CSAttach source and anti-theft tags Bag merchandiseSPBalance personal and professional responsibilities SPBook appointments with prospective clients SPBuild and maintain relationships with customers Customer relationship management is a strategy for understanding your customers and their needs to optimize your interactions with them. Maximize your marketing and customer service capabilities to build and maintain customer relationships.There are many strategies to build and maintain relationships with customers. Examples include:Enrich and customize the way you communicate with your customersNetwork online through points of contact on a company website and/or social mediaIdentify your best customers. Take the time to understand their wants and needs so you can find ways to add value to them.Research, analyze and understand your customers, their motivations, their wants and needsProvide stellar customer service; being consistent over the long-term will build loyaltyPersonalize offers and offer flexibility Reward repeat businessEncourage social media sharingPromise, deliver and manage marketing campaigns. People have the best of intentions but sometimes they just don’t follow through. This can be detrimental to business.Keep in touch. Even just a quick email or phone call speaks volumes to how much the company cares about a customer.Be clear. Emphasize the key pieces of information that the customer needs to know.SPBuild rapport and credibility with prospect SPBuild rapport with suppliers Build strategies to position product/businessCSBuild trust in relationships SPBuy ad space/time SPCalculate media costs CSCalculate miscellaneous charges CSCalculate miscellaneous charges for retail sales SPCalculate open-to-buy Calculate the cost of credit (FI:782) (CS)* CSChallenge the status quo SPCheck advertising proofs Check incoming stockCSChoose and use appropriate channel for workplace communicationChannels of workplace communication include the following: team meetings, email, staff meetings, impromptu office chats, employee publications, letters, intranet, video, newsletter notice boards, open forum, web casting and similar activitiesKnow when formal and informal communication should be used; e.g. memo versus letter; e-mail versus a letterKnow when formal language should be usedKnow when verbal communication would be adequate in lieu of a formal means such as a letterSPChoose appropriate media outlets There are five things you should consider when choosing where to advertise:your target audiencethe comparative costs of reaching that audience through different mediathe timing of your campaigncreative opportunitieseditorial statureSelecting advertising media involves comparing and balancing all of these factors to develop an advertising media mix that's right for your product. There's no one advertising solution that works for everyone. If you need assistance developing an advertising plan, media specialists at advertising agencies or media independents can offer objective, professional advice.What You Need to Know Is cost or coverage more important when buying advertising? Of course cost will be a critical factor in deciding where to advertise. You might find that some media are too expensive. Once you have determined which media are available to you based on your budget, it is important to weigh the costs versus coverage each outlet provides. The ultimate goal is to develop a media mix that provides maximum exposure to your target audience with the money you have available.Choose appropriate media vehicles for sport/eventCompany has limited budget. ON STAGE PROMOTIONS has been provided with limited funds for the purpose to buy newspaper and radio advertising. Students should indicate some of these initiatives in the local metropolitan market.Students should identify other appropriate media vehicles for the Broadway Production of Rent. These might include:Entertainment section of newspaper, Local cultural and theatre magazines and productionsCity and entertainment web pagesDistribute email lists to season theatre ticket holders as well as any other known lists of ticket holders (i.e. Rock music fans)Distribute information on social networking sites such as facebook, twitter, MySpace to potential theatre going customers SPChoose vendors The participant should identify some of the following criteria that buyers should be aware of when selecting suppliers to work with:Production capabilitiesPast experiencesProduct qualitySpecial buying arrangementsSpecial servicesPricingBuyers should have clearly defined expectations and standards so that vendors are aware of what should be deliveredSPCleanse existing marketing data to maintain relevancy SPClose the sale offer additional incentives aside from current product / service set up long term contract to close the dealCoach employeesThe purpose of coaching is to make sure they understand what they are supposed to do and be able to do it without error. In the case of inventory control systems, we need to make all personnel understand the importance of controlling inventory for the company’s profit situation. Presumably, as profits rise, the employee’s share of the profits will also rise, and a happier employee may be a more trusted employee.CSCoach others The term coaching typically refers to methods of helping others to improve, develop, learn new skills, find personal success, achieve aims and to manage life change and personal challenges. Coaching commonly addresses attitudes, behaviours, and knowledge, as well as skills, and can also focus on physical and spiritual development too. Usually coaching contains some or all of these features:one-to-one?- involving a coach (teacher, trainer, mentor, coach) and learner (student, trainee, sometimes called the 'coachee')on-going and regular?- coaching is commonly a continuing arrangementpersonalised?- by the coach for the individual learnerenabling?- rather than prescriptive or imposedadapted and adaptable?- to the changing needs of the learnerplanned?- the coach normally works to a plan or structuremodel-based?- coaching tends to be based on a structured 'proven' tested concept or methodologyfocused on aims?- coaching normally works towards achieving agreed measurable outcomes measured and recorded?- by the coach, and/or the learnertime-based?- coaching sessions, schedules, and outcomes normally are time-boundSPCode research data SPCollaborate in the design of collateral materials to promote frequency/loyalty marketing program SPCollaborate in the design of slogans/taglines With the right slogan, you can make people giggle at a pun, ponder the mysteries of the universe, or even experience a powerful craving. A poor slogan, on the other hand, risks making customers cringe. And forking over cash is usually the last thing someone wants to do after cringing.Make your slogan ABC: Ambitious But CredibleBelievability is the first test of a good slogan, because a customer's belief or lack thereof largely determines how he or she will respond, and that response could very well be the difference between buying and walking away. No matter how much fun your slogan is to say, or how good it looks next to your logo, it won't do any good if your customers don’t believe it.Some key questions to ask about your slogan: Do I believe it?Is there good reason for my customers to believe it?Does it set a high standard for the product?Appeal to emotional needsMaking a purchase is often an emotional experience. If a slogan can incite a strong positive emotion (think joy, excitement, sympathy, etc.), it stands a better chance of connecting people with the products and services that aim to fill those needs. You can also tug at the heart strings without being sappy. When Kleenex launched a video ad about a boy who gives a tissue to a girl he spots crying on the school bus, the closing observation that "someone needs one" positioned Kleenexes as the universal response to tears everywhere.Questions to consider about your slogan:What emotions does it invoke?Which of my target audience's needs does it relate to?Stand out with clever wordplayYour slogan ought to be tricky or clever enough to make most readers think about your slogan for a minute or two, which makes it more likely that they'll remember it. If it's too tricky, however, it can go right over their heads and leave them confused.There's no easy way to come up with a clever saying, but you can start by listing words that have to do with your product, then searching for rhymes, synonyms, and alternate definitions for puns.Those aren't the only ways to make your slogan stand out—in fact, sounding too catchy in a clichéd way could be counterproductive. Reese's "two great tastes that taste great together" follows an A-B-B-A structure that, intentionally or not, imitates the peanut-butter filled structure of the candy itself.Nor does it have to be complicated to sound good. "Ace is the place with the helpful hardware folks" isn't just easy on the tongue; it's also a straightforward slogan that goes well with the down-to-earth nature of hardware stores.Ask yourself:Are consumers likely to understand the slogan's wordplay?Does the cleverness of the slogan distract from or reinforce its overall message and effect?Just say no to clichés and superlativesHow do you know when you've crossed the line from catchy to corny?If people can sarcastically cite your slogan to disprove it when they experience setbacks, you've probably crossed that line.Another sign you may have gone too far is the use of tired clichés. Phrases such as "we do X so you don't have to"; "for x, by x"; and "x of the future" are all used so frequently that consumers are used to tuning them out. If you really want to express the sentiment embodied in these phrases, find a unique way of doing so.Some key questions to consider are:In what ways is my slogan different from most slogans?In what ways is it similar, possibly too similar, to most slogans?How likely are customers to roll their eyes at it?Maintain a strong connection to your businessA slogan should strongly relate to the product it promotes. It if doesn't, then it might catch people's attention momentarily, but it won't stay with them.It's best if there's a strong, interesting link between your slogan and your product. For instance, Aquafina's insistence that their water is "for happy bodies" makes good sense. Sunchips' claim to be "unique in every wave" distinguishes their chips from their less curvy competitors. Finally, Paper & Packaging Board's assertion that their products are at the heart of "how life unfolds" wouldn't make much sense for, say, a burger stand.SPCollaborate on and aggregate complex internal documents to create a common voice Collaborate with others Collect marketing information from othersCollect marketing information to ensure accuracy and adequacy of data for decision-makingCollect paymentsSPCollect product quality data (e.g., customer complaints, returns, quality control) SPCollect product quality data to aid in making channel-management decisions Communicate core values of product/serviceCore values of products/services are defined and communicated based on how the product is positioned in the market relative to competitors. Core values might include customer orientation, competence, innovation, integrity, etc. When employees know their organizations values,?they have an?ethical base that will help them?know how to act and what?decisions (including strategic brand decisions), are in the best interest of?their clients, the organization and its vision. For example, an organization may be striving for:Health & safetyContinuous improvementCustomer satisfactionTransparent communicationThe?additional benefit for an organization (beyond increased customer satisfaction), is that once employees understand the core values they will be able to make?the right business decisions with greater confidence and speed (saving time, saving money and reducing mistakes). For example, values will:Assist in the development of the organization (and department), mission statement, vision statement,? value statement and core competencies.Influence the product / service design process when developing new products / services.Serve as the starting ground for all marketing and advertising strategies and messages.Be evaluated and measured within the people being considered for employmentSPCompare and contrast buying from domestic sources with that of foreign sourceList of factors to consider in determining feasibility of offshore sourcing is provided in the case:Advantages Cost savings – labour, raw materials, production – ability to increase marginsCustomers – potential appeal to a larger demographic; international reputation possibleTimelines – domestic sourcing – assume shorter time frame than outsourcingEconomic factors – currency exchange rates, taxesFinancial – becomes a huge success – cannot meet demand – is growth possibleDiversity – wider range of merchandise – increased customer baseDisadvantagesCost increases – transportation, distribution, returnsImage/customers – negative – buy domestic thrust vs. imported – quality concerns; loss of customers possible if quality or image is damaged – sweatshops?Timelines – increased because of distance; earlier ordering of raw materials and finished goods; shipping costs increased; contracts to be negotiated; loss of control; requires new contracts and distribution network Buyers – employees - ?expertise; new employees – hiring/training – increased costs; trips – costly; supervision of operations overseas requiredCommunication – network required – long distance; less face to face; potential language barriers; delays likely Legal/economic – must conform to laws of manufacturing nation; export/import tariffs and/or limits; currency; employment laws; fluctuations; instability of government in offshore nation; inflation/deflation; recession/depression – economic cycles; political unrest; sanctions; blockadesFinancial – costs greater than anticipated and savings not realized; delays; lost customers; labour disputes – delays; products not satisfactory; bankruptcyDiversity – business practices vary – willingness to abide by country requirements; ethics SPCompare business objectives with the expected use of the marketing-research outcomes SPCompare the capabilities of SMS with MMS PQComplete a job application CSComplete inventory counts CSComply with policies and procedures for use of property and equipment CSComply with the spirit and intent of laws and regulations. When one obeys the letter of the?law?but not the?spirit, one is obeying the literal interpretation of the words (the "letter") of the?law, but not necessarily the intent of those who wrote the law. Actions such as the ones below are generally followed when complying with the intent of the law (as opposed to the letter of the law):Ensure that those policies are applied properly and consistently and fairly present the financial results in a manner that is complete and understandable.Maintain a dynamic system of internal controls and procedures—including internal control over financial reporting—designed to ensure reliable financial recordkeeping, transparent financial reporting and disclosure, and protection of physical and intellectual property. Recruit, develop and retain a world-class financial team. Internal audit conducts thousands of financial, compliance and process improvement audits each year. Audit Committees oversee the scope and evaluates the overall results of these audits, and members of that Committee regularly attend compliance meetings. Uphold financial integrity and avoid conflicts of interest. Publish integrity policies in many languages, provide them to all employees, and hold each employee accountable for compliance. Require employees to raise any compliance concerns and prohibit retribution for doing so. Facilitate open and candid communication, perhaps by designating ombudspersons throughout the Company to act as independent resources for reporting integrity or compliance concerns. Hold directors, consultants, agents, and independent contractors to the same integrity standards.Disclose controls and procedures. Strike a committee to review compliance with accounting and other departments, to evaluate the fairness of our financial and non-financial disclosures, and to report their findings. Ensure the strong oversight of our financial reporting activities by our independent registered public accounting firm, KPMG LLP, engaged by and reporting directly to the Audit Committee. SPConduct a risk assessment of an event SPConduct advertising tracking studies SPConduct an environmental scan to obtain business information SPConduct error detection/edit routines SPConduct in-depth interviews SPConduct pre-campaign testing SPConduct preliminary customer/client qualification SPConduct pre-visit research (e.g., customer's markets/products, customer's competitors, and competitors' offerings) SPConduct self-assessment of marketing-communications skill set SPConduct self-assessment of sales performance SPConduct sentiment analysis SPConduct telephone interviews CSConsider conflicting viewpoints. When you consider and counteract opposing arguments, you strengthen your own argument. Conflict is a 'clash of interests, values, actions, views or directions. Disagreement among people is the underlying basis of conflict. People disagree because they see things differently, want different things, have thinking styles which encourage them to disagree, or are predisposed to disagree. CSControl debt SPConvert customer objections to selling points Presenter should discuss the benefits of the product / ServiceDisadvantages should also be discussedDiscus the current economies effects on the sectorSPCoordinate activities in the promotional mixThe main aspects to coordinate in a promotional mix are advertising, personal selling, sales promotion and public relations. Advertising includes any paid presentation and promotion of ideas, goods, or services by an identified sponsor. Personal Selling is a process of helping and persuading one or more prospects to purchase a good or service or to act on any idea through the use of an oral presentation. Sales promotion includes media and non-media marketing communication in order to increase consumer demand, stimulate market demand or improve product availability. Sales promotions: Incentives designed to stimulate the purchase or sale of a product (Ex. Coupons, sweepstakes, contests, rebates etc.)Public relations includes paid intimate stimulation of supply for a product, service or business unit by planting significant news about it or a favourable presentation in the media. Sometimes include direct marketing and sponsorship.Personal selling - a process of helping and persuading one or more prospects to purchase a good or service (Ex. Sales presentations, sales meetings, sales training)Advertising any paid form of non-personal presentation and promotion of ideas, goods or services (Ex. Print ads, radio, television, billboards etc.)Place advertisements that would appear locally promoting Shaved is now open year round, direct mail, posters/billboardsRecognize that TV ads would be created for each local marketSales promotions Incentives designed to stimulate the purchase or sale of a product (Ex. Coupons, sweepstakes, contests, rebates etc.)Offer discounts winter months on cold productsPublic relations/ publicity - non-paid non-personal stimulation of demand for a product or service that comes from planting significant news about it in the media (Ex. Newspaper, magazine articles, charitable donations etc.)Contact newspapers and radio stations to come review or feature the restaurant/ store/ eventSponsor local eventsDirect MarketingSPCoordinate activities with those of other departments Each department should be giving out the same facts (information). This will require some sort of information sharing, either through a meeting, written or electronic communication to employees.SPCoordinate channel management with other marketing activitiesChannel management organizes all possible ways to communicate with, and deliver, products to customers. Organizations must consider their target markets in terms of their preferred methods of communication. Types of communication channels include but are not limited to: social media, print advertising, corporate website, online advertising, telemarketing, email marketing, webcasts, tradeshows, direct mail promotions, white papers, and face-to-face events and Channels of distribution could include direct from manufacturer, retail, wholesale, import, or specialty channel (internet, home shopping, catalogue, vending machine, etc.). Regardless of the channel of communication or distribution, the promotional activities, and level of customer service, the marketing communications must be consistent and reflect the desired message.Marketing activities include any techniques used to make the public aware of, promote, and interact with, a company, what it has to offer, and how it distinguishes itself from the competition. Each channel must consistently deliver or at least be aware of marketing activities in all channels so that customers receive the same message regardless of how they are hearing about it.Student competitors should indicate that marketing activities (all Advertising, Publicity, Selling and Sales Promotions - contests, coupons, discounts, expanding to new sales outlets, making changes to product or service design, function, etc.) need to be coordinated or sequenced effectively. The student competitors should mention the channels chosen, the marketing activities chosen, how they are consistent with each other, and how they are well-coordinatedCoordinate community outreach projectsDid the participant outline a timeline for each outreach project? Has this project been coordinated with other team as well as city activities?Have considerations been made to minimize conflicts with other city initiatives and to ensure maximum player and community involvement?Has the participant assigned responsibilities to specific individuals for the various steps in each project?Coordinate distribution with other marketing activitiesCoordinate promotional activitiesCreate a desired atmosphereSPCreate a press kit SPCreate a public-service announcement Create and explain a desired atmosphereCSCreate and post basic web page SPCreate data matrix SPCreate displays SPCreate promotional signage SPCreate promotional signs SPCreate written briefs for outside agencies/consultants SPCreate/maintain daily sales plan Cultivate Group SalesThe group sales process would include some or all of the following steps:The Preapproach. Ensure sales staff are knowledgeable about both HAPPY WORLD and education programsThe Approach. Contact potential customers about new education program opportunities. Offer group or school staff presentations.Presenting the Program. Communicate the program to your target audience.Determine which program the client wants.Answering Questions. At this point a customer may be reluctant to buy; providing information to remove that uncertainty, and helping the customer to make a satisfactory buying decision. Closing the Sale. Getting customers positive agreement to buySuggestion selling. Suggesting additional programs or services that will satisfy the client’s needs and wants. They may help your client enjoy the original purchase or to save money. Follow-up and Relationship building. Creating a means of maintaining contact with the customer after the sale is completed.SPCultivate media relationships SPData mine clickstream data using web analytics for marketing information CSDefend ideas objectively CSDemonstrate a customer-service mindset PQDemonstrate active listening skills CSDemonstrate adaptability SPDemonstrate appropriate creativity SPDemonstrate basic data mining techniques PQDemonstrate basic database applications SPDemonstrate basic desktop publishing functions to prepare promotional materials PQDemonstrate basic e-mail functions PQDemonstrate basic presentation applications PQDemonstrate basic spreadsheet applications PQDemonstrate basic web-search skills PQDemonstrate basic word processing skills CSDemonstrate collaborative/groupware applications SPDemonstrate connections between company actions and results (e.g., influencing consumer buying behavior, gaining market share, etc.) SPDemonstrate effective use of audiovisual aids PQDemonstrate ethical work habits PQDemonstrate fairness SPDemonstrate good/service PQDemonstrate honesty and integrity PQDemonstrate initiative PQDemonstrate interest and enthusiasm SPDemonstrate negotiation skills PQDemonstrate personal information management/productivity applications CSDemonstrate problem-solving skills SPDemonstrate product solution for prospect's needs PQDemonstrate responsible behavior PQDemonstrate self-control SPDemonstrate suggestion selling PQDemonstrate systematic behavior CSDemonstrate the wise use of credit SPDescribe considerations in developing customer evangelists SPDescribe considerations in using databases in marketing communications SPDescribe crucial elements of a quality culture SPDescribe current business trends SPDescribe current issues/trends in marketing communications SPDescribe data mining tools and techniques SPDescribe data-collection methods (e.g., observations, mail, diaries, telephone, Internet, discussion groups, interviews, scanners, tracking tools) SPDescribe digital color concepts SPDescribe effective advertising layouts SPDescribe employment opportunities in the marketing communications industry (structure, jobsin, structures in different size agencies, key departments in) SPDescribe ethical considerations in channel management As an owner of a business, the danger of crippling litigation should be at the top of your priorities. Legal headaches can take you by surprise and severely hurt your business’ bottom line. Ethical standards also require that employees and customers are not put in a situation where they might be at risk of harm as a result of their participation. Harm can be defined as both physical and psychological.The major factors that can cause ethical problems in the workplace are:lack of integrity, where employees do not embrace fairness and honesty in the anizational relationship problems, which is when a company’s mission, goals, and objectives are not stated clearly.For the most part, companies are legally free to develop whatever channel arrangements suit them. In fact, the law seeks to prevent companies from using exclusionary tactics that might keep competitors from using a channel. Here we consider the legality of certain practices, including exclusive dealing, exclusive territories, tying agreements, and dealers’ rights.^Exclusive dealing is a strategy in which the seller allows only certain outlets to carry its products is called exclusive distribution, and when the seller requires that these dealers not handle competitors’ products, this is called exclusive dealing. Both parties benefit from exclusive arrangements: The seller obtains more loyal and dependable outlets, and the dealers obtain a steady source of supply of special products and stronger seller support. Exclusive arrangements are legal as long as (1) they do not substantially lessen competition or tend to create a monopoly, and (2) both parties have voluntarily entered into the agreement.Basic ethical principles, are:Respecting autonomy. The individual has the right to act as a free agent. …Doing no harm (Nonmaleficence) Our interactions with people (within the helping professions or otherwise) should not harm others. …Benefiting others (Beneficence) …Being just (Justice) …Being faithful (Fidelity)Ethical standards are based on the human principles of right and wrong. The differences between them are these: Legal standards are based on written law, while ethical standards are based on human rights and wrongs. Something can be legal but not ethical.SPDescribe ethical considerations in channel management SPDescribe ethical considerations in distribution Describe ethics in personnel issuesEqual opportunity; equal payNo discrimination/bias – application process/career pathTruth in hiring, promotion policies – all human resources issuesSPDescribe factors that affect the business environmentThe internal business environment includes factors within the organization that impact the approach and success of your operations. The external environment consists of a variety of factors outside your company doors that you typically don't have much control over. Managing the strengths of your internal operations and recognizing potential opportunities and threats outside of your operations are keys to business anizational DirectionThe role of company leadership is an important internal business factor. Your leadership style and the styles of other company management impact organizational culture. The positive or negative nature, level of family-friendliness, effectiveness of communication and value of employees are cultural implications that result from leadership approaches. Companies often provide formal structure or direction with mission and vision statements. These are forward-looking statements that provide the business for company decisions and activities.Other Internal FactorsThe strength of your employees is another crucial internal business factor. Motivated, hard-working and talented workers generally produce better results than unmotivated, less-talented employees. Your business processes and relationships within and between departments and employees also significantly impact business effectiveness and efficiency. In a high-performing workplace, employees not only have talent, but they work well together and collaborate on ideas and resolutions.External CompetitionOne of the most critical external business factors is competition. Whether you operate in a concentrated industry with a few major competitors or a large industry with many competitors, you need to know the competition. Many companies do competitive analysis to compare their offerings and prices to those of competitors. When developing business philosophies and products, it is helpful to use your strength in quality production, customer service or operational efficiency to build competitive advantages that benefit your customers.Other External FactorsOther common external factors fall into several categories, including socio-economic, legal or ethical, political and technological. Socio-economic factors relate to the values, attitudes and concerns of your target customers and their economic abilities to afford your products. The legal, ethical and political environments generally relate to your need to abide by business laws and to meet the ethical or social responsibility standards of your customers and communities. In some industries, technological evolution drives the need for companies to adapt and constantly research for petitionEconomic environmentPolitical environmentChanges in technologySocio-cultural environment (including location of the business)Changes in demographics Changes in the natural environmentDescribe factors that influence the demand for servicesDescribe factors that motivate people to participate in/attend sport events.Participants’ responses may include but are not limited to:Perceived excitement and perceived chance of supported team winningNumber of peers attendingWhether or not a peer is on the playing teamLocation and duration of gamesSPDescribe factors used by businesses to position corporate brandsBranding is all about creating unique identities and positions for products and services, hence distinguishing the offerings from competitors. Hence a corporate branding strategy can enable the corporation to further leverage on its tangible and non-tangible assets leading to branding excellence throughout the corporation. The 5 main factors that go into defining a brand position:Brand Attributes: What the brand delivers through features and benefits to consumers.Consumer Expectations: What consumers expect to receive from the brand?Competitor attributes: What the other brands in the market offer through features and benefits to consumers.Price: An easily quantifiable factor – Your prices vs. your competitors’ prices.Consumer perceptions: The perceived quality and value?of your brand in consumer’s minds (i.e., does your brand offer the cheap solution, the good value for the money solution, the high-end, high-price tag solution, etc.?).SPDescribe factors used by marketers to position products/businessesProduct positioning is the process of conveying to your target market the qualities and attributes of your brand that make it superior to competitor offerings. Effective positioning typically involves communicating a value proposition that the benefits of your product relative to the price are unrivalled, and is a key responsibility of a marketing department. Common factors used to position products/services include: superior quality, low price, assurances (guarantee of a certain product experience), innovation or style.A product’s position is the image the product projects in relation to competitive products and to other products marketed by the same company; i.e., how do we want potential customers to think of us when they are considering buying our product? This will involve the answers to the 4 P’s of the Marketing Mix and“Putting the right product in the right place at the right price at the right time”Product: what items and services are we providing, its feature/benefitsPlace: pick up or delivery, our staff or not, day/ night or weekendPrice: relation to quality, similar to competition, skimming or penetration Promotion: types, cost, reachThe focus and goal is to set the product apart and involves the identification of customer needs as well as the impact/influence of the competition.Describe factors used by marketers to position products/servicesProduct positioning is the process of conveying to your target market the qualities and attributes of your brand that make it superior to competitor offerings. Effective positioning typically involves communicating a value proposition that the benefits of your product relative to the price are unrivalled, and is a key responsibility of a marketing department. Common factors used to position products/services include: superior quality, low price, assurances (guarantee of a certain product experience), innovation or style.A product’s position is the image the product projects in relation to competitive products and to other products marketed by the same company; i.e., how do we want potential customers to think of us when they are considering a caterer? This will involve the answers to the 4 P’s of the Marketing Mix: product, place, price, promotion.Product: what items and services are we providing Place: pick up or delivery, our staff or not, day/ night or weekendPrice: similar to competition, skimming or penetration Promotion: types, cost“Putting the right product in the right place at the right price at the right time”Focus of positioning if the image projected by a product – goal is to set the product apart and involves the identification of customer needs as well as the impact/influence of the pany can position by price/quality; feature/benefits; competition.Participant could indicate any of the above for the positioning strategy; most likely, he/she will choose features/benefits of the product – what does this product offer that the others do not; who is likely to buy; why; how much are they willing to pay; how can we promote (make the consumer aware) of this new product.PQDescribe functions of money (medium of exchange, unit of measure, store of value) PQDescribe health and safety regulations in businessParticipant should address the requirement for businesses to operate according to municipal/provincial/federal regulations. Additionally, the participant may state that adhering and exceeding such regulations are imperative when providing a service to the public and contributes to the customer experience. Governments have also established health and safety regulations to protect the consumer from harm emanating from products e.g. Food & Safety and product labeling regulations PQDescribe health and safety regulations in business Describe how courtesy services are promotedDescribe how marketers can make ethical choicesCSDescribe inventory control systemsPhysical inventory system is a manual system – time consuming – difficult to track thefts or spoiled inventoryPerpetual inventory system is computerized and allows for managers to make informed decisions based on daily sales informationStudents need to speak to the idea of developing a system to track inventory as it moves in and out of the businessSPDescribe legal issues affecting businesses CSDescribe marketing functions and related activitiesSeven functions of marketing:Marketing information management – the process of getting the marketing information needed to make sound business decisions (marketing research) Financing – getting the money needed to finance the operation of a business (obtaining a bank loan; offering credit to consumers) Product planning – all the decisions a business makes in the production and sale of its goods and services (products to carry, branding, labeling, packaging, etc.)Pricing – deciding how much to charge for goods and services (takes competition into consideration & how much a consumer is willing to pay)Promotion – any form of communication used to inform, persuade, or remind people about a business’ products OR to improve a firm’s public image (TV and radio commercials; specially designed perks as gifts with purchase-McDonald’s toys/glasses) Selling – providing customers with goods and services they want to buy (to the end user and in the industrial market as materials for business operations) Distribution – making decisions about where to sell your product including the method of transportation (i.e. truck, rail, ship or air) and the storage of itemsSPDescribe methods used to design marketing research studies (i.e., descriptive, exploratory, and causal) SPDescribe methods used to protect intellectual property SPDescribe mobile marketing tactics SPDescribe options businesses use to obtain marketing-research dataPrimary Research and Secondary Research methods are good starting points. In conducting primary research, the participant could create surveys, questionnaires, focus groups or do test marketing. Secondary research can be conducted by doing online research, by reading case studies, by analysing periodicals, etc. Secondary research can also be purchased through Market Research firms. Primary research can be conducted at the point of sale by asking for basic demographic data like postal codes. Describe pricing issues associated with sport/event products. Describe pricing strategies. Describe production activities.Production activities include:Designing the products to be soldDetermining the resource needsAcquiring the materials and equipment/tools needed to produce the furniture such as wood, fabric, stuffing, nails, etc.Assembling the materials to produce an end productAdding finishing touches to the furniture such as labels, care instructions, etc. before they are sent to the warehouseDescribe progressive work environments. Describe promotional methods for automotive services marketingDescribe promotional methods for vehicle and petroleum marketing. SPDescribe referral programs that can be used to build brand/promote products SPDescribe services offered by the marketing-communications industry SPDescribe small-business opportunities in international trade PQDescribe sources of income (wages/salaries, interest, rent, dividends, transfer payments, etc.)A source of income is any stream of revenue or profit centre that a person or business has. For individuals, they can include: salaries/wages, capital gains, dividend income, pension income, investment income, rental income, business income, contract income, insurance income, government assistance income. Describe sources of secondary data. SPDescribe statistical concepts associated with sampling Describe steps used in designing and preparing displaysDescribe strategies used by marketers to position products/businessesInvolves marketing to the target market The marketing mix – what makes the store's products stand out – unique features; differentiationPrice versus appeal PQDescribe techniques for obtaining work experience (e.g., volunteer activities, internships) Work experience can be obtained through:Volunteer positionsCo-operative education programsInternshipsJob ShadowingPracticum placementsCSDescribe the concept of insuranceInsurance is the promise of a guaranteed payout in the event that a specified situation or loss occurs, in exchange for the payment of a premium. The insurance company determines your premium based on your risk or likelihood of having to collect on the policy. For example, an inexperienced driver will pay more car insurance than an experienced driver who has a clean record. Underwriting is the process of evaluating the risk to be insured; an actuarial will do the calculation. From the insurance company’s viewpoint, a number of people will pay premiums which collects into a “pool”. If a claim arises, it is paid from the pool. As the group paying premiums gets larger, the odds of a claim are more predictable, and as a result, the premiums will be lower.Describe the concept of pricePrice is the amount the consumer must pay for a productInfluenced by costs, competition, demand, and supplyCost—all costs are calculated and then a mark-up is applied to achieve the priceCompetition—set the price in relation to competitorsDemand—apply the concepts of supply and demand, the greater the demand for the product, the higher the price chargedSupply—a product in short supply will have a greater demandDescribe the concept of price stability as an economic measureLow inflation rates lead to a stable economyHigh inflation rates (over 5%) are an indication of an unstable economy. People in this economy will spend money quickly to maintain their purchasing power. However, because the future is more uncertain, people will purchase necessities and hold off on luxury purchases.Describe the concept of promotion in business servicesDescribe the concept of promotion in sports and entertainment marketingCSDescribe the concepts of economics and economic activities Describe the concepts of economics and economic activitiesA resource is considered scarce when its availability is not enough to meet its demand. Scarcity is based on the idea that oftentimes a limited supply of goods or services comes up against an ever increasing demand for it and that, as such, every effort must be made to ensure its proper utilization and distribution so as to avoid inefficiency.The scarcity of goods and services is brought about by factors such as the limited supply of resources (for example, water, land or people) and the limited capabilities of technology or human skill (for example, those needed for enhanced production).Participant demonstrates and adheres to the following policies and procedures as stipulated in the case study. Answers may include:Economics is the study of production, distribution and consumption of goods and servicesEconomic factors and activities that affect business include supply and demand of goods and services, labour market conditions and inflation. These factors cannot be controlled by individuals, but they can be anticipated. Successful businesses know how to adapt to economic changesOther economic activities students may mention:Microeconomics – markets, specialization, supply and demand, market failure, firms, public sectorMacroeconomics – growth, the business cycle, inflation, monetary policy, fiscal policy and regulationEconomics deals with the production, distribution and consumption of goods and services. Economic activities include:ManufacturingBuyingSellingTransportingInvestingResources of a nation will help determine which economic activities should be pursued.The Participant should focus on the economic activities of selling and buying as it pertains to the case and the importance of using them to determine pricing of goodsDescribe the considerations in using databases in advertisingSPDescribe the determinants of exchange rates and their effects on the domestic economy SPDescribe the economic impact of inflation on a businessInflation is a period of constantly rising pricesInflation causes businesses to frequently have to adjust their prices upwards or make their products smaller.When prices go up, consumers need more money to have the same purchasing power, therefore, they ask for higher wages. The companies then must increase wages. They can afford to do this by raising the prices of their products. It is a cycle.SPDescribe the elements of designElements of design include: Line, Shape, Direction, Size, Texture, Colour, and Value (Tone). Students likely won’t be very specific with these as they are primarily Visual Arts terms. They should however, be able to describe in words and pictures, how they envision the ads.Describe the factors that affect the types of customer services offered by supermarketsDescribe the factors that influence the demand for business servicesCSDescribe the functions of prices in marketsPrice is the value in money placed on a good or service. One function of price is that it can affect the value that a customer places on an item. Price helps establish a company’s or product’s image – many customers use price as a gauge to make judgements about products and companies. Price can give a competitive edge as well as ultimately allow the business to satisfy their end goal to make a profit. The participant could discuss the pricing and how it creates an image for the retailer, as a higher price typically alludes to a higher end image, while lower prices usually indicate a lower end store.SPDescribe the impact of a country's history on world trade CSDescribe the impact of a person’s social media brand on the achievement of organizational objectives.To be successful, internal social media initiatives must focus first and foremost on the development of emotional capital, which we define as the aggregate feelings of goodwill toward a company and the way it operates. Sponsors, attendees and future participants will look at ALL social media to make their decisions, and if the overwhelming message that is being seen is negative it will have an impact.SPDescribe the impact of electronic communication tools (e.g., Internet, video- and computer conferencing, webcasts, email) on global business activities Describe the impact of sports on communities. SPDescribe the impact of the political environment on world trade SPDescribe the impact that digital communication is having on selling Describe the maintenance considerations for displaysDescribe the nature and scope of risk managementSPDescribe the nature of budgets A budget is an estimation of revenue and expenses over a specified future period of time; it is compiled and re-evaluated on a periodic basis. Creating this spending plan allows you to determine in advance whether you will have enough money to do the things you need to do or would like to do.SPDescribe the nature of business customs and practices in Northern Africa SPDescribe the nature of business customs and practices in the North American market SPDescribe the nature of business customs and practices in the Pacific Rim SPDescribe the nature of business recordsParticipants should make the connection between business records and business decisions based on those records. Points to address this may include:Inaccurate records could lead to an under or over projection of the business’s financial position in its financial statements.Since these statements are used to make business decisions by management and investors, it can lead to misinformed business decisions as well as billing and delivery errors.Business records are also used as reference points if and when the company is audited, thus these records must be accurate and maintain for future use.SPDescribe the nature of cash flow statementsWhere does the cash come from? Where does it go?Shows what used/provided cash for the organization over a specific period of time. It focuses on change from one accounting period to the next.It is broken down into 3 sections:Cash Flows from Operating Activities – from the day-to-day business of the organization. Cash Flows from Investing Activities – shows the cash outlay for capital expenditures and acquisitions. Cash Flows from Financing Activities – cash received from borrowing and cash used to repay SPDescribe the nature of copy strategies MNDescribe the nature of cost/benefit analysis. Do costs outweigh benefit derived from it, i.e. is increase in revenue greater than increase in costsTake into account non-financial benefits (greater customer service, better reputation, etc.) and costs (opportunity cost, etc.)Describe the nature of current economic problemsSPDescribe the nature of customs regulations SPDescribe the nature of effective Internet ad copy PQDescribe the nature of emotional intelligenceEmotional intelligence (EI) is the ability to identify, assess, and control the emotions of oneself, of others, and of groupsThe following categories of EI seem to be relatively well known:Perceiving emotions – the ability to detect and decipher emotions in faces, pictures, voices, and cultural artifacts—including the ability to identify one's own emotions. Perceiving emotions represents a basic aspect of emotional intelligence, as it makes all other processing of emotional information possible.Using emotions – the ability to harness emotions to facilitate various cognitive activities, such as thinking and problem solving. The emotionally intelligent person can capitalize fully upon his or her changing moods in order to best fit the task at hand.Understanding emotions – the ability to comprehend emotion language and to appreciate complicated relationships among emotions. For example, understanding emotions encompasses the ability to be sensitive to slight variations between emotions, and the ability to recognize and describe how emotions evolve over time.Managing emotions – the ability to regulate emotions in both ourselves and in others. Therefore, the emotionally intelligent person can harness emotions, even negative ones, and manage them to achieve intended goals.SPDescribe the nature of entrepreneurship An entrepreneur is a person who sees an opportunity and sets up a business taking financial risk in the hope of profit. They are characterised by being: hardworking, tenacious, visionary, creative, adaptable, ambitious, committed, determined, good decision-makers, calculated risk-takers, positive, motivated, eager to learn and collect information, opportunistic, are challenged by problems, successfully manage chaos.Describe the nature of ethics (EI:123) (CS)*SPDescribe the nature of income statementsAn income statement describes a company’s revenues and expenses along with the resulting net income or loss over a period of time due to earnings activities. Participants should relate income statement accounts to the bakery industry.Describes a company’s revenues and expenses along with the resulting net income or loss over a period of timeShows how profitable the company is over a specified period of timeShows Sales (Revenues) less cost of doing business (Expenses) = Net Income (ProfitSPDescribe the nature of legal procedure SPDescribe the nature of legally binding contracts SPDescribe the nature of managerial control (control process, types of control, what is controlled)Managers are responsible for planning, organizing, leading and controlling Control refers to measuring how well the organization/their area of responsibility is performing with respect to organizational goals and then taking action to ensure goals are metParticipants should demonstrate an understanding of the importance of managerial control measures to ensure the integrity of the business. Having more than one person reviewing financial records avoids any abuse of positional power by employees to influence records or overlook errors.Describe the nature of organizational conflictDescribe the nature of overhead/operating costsOverhead or operating costs are costs associated with the existence or life of a business. These costs are necessary costs in order for the business to run properly. Some operating costs can be variable as they are tied directly to the production and sale of a unit or ticket.SPDescribe the nature of product bundlingProduct bundling is the process of securing two or more necessary goods or services from a single vendor. This strategy usually provides several advantages, including saving a great deal of money. The basic nature of product bundling involves the willingness of a supplier or vendor to provide two or more services to a customer for basic rate. This rate normally provides significant savings over purchasing the products individually. Along with saving money, product bundling also provides other benefits for the customer. One has to do with sheer convenience. In many cases, the cost and convenience created by product bundling go a long way toward promoting customer loyalty. This makes the client less likely to switch to another vendor for any of the services, especially if the price for the bundle is competitiveDescribe the nature of profit-and-loss statementsDescribe the nature of sampling plansThe sampling plan outlines the data that is to be collected, how the data will be measured and how the data will be used in the research by the company. SPDescribe the nature of selling regulations Describe the nature of service productivitySPDescribe the nature of target marketing in marketing communications SPDescribe the nature of taxesDespite the common misperception, taxes play a positive role in our livesBy collecting taxes, government is able to improve the standard of living for all citizens – with better services and roads, transit, health, education, recreational and cultural facilities and programsWith good jobs and low unemployment, the personal income tax base is stronger, and with prosperous businesses, the corporate tax base is also healthy, fueling even more funding for city-provided goods and servicesBy levying reasonable taxes, the quality of life enjoyed in the city can be improved – they may wish to survey the public regarding thisThe city may wish to begin dialogue with those businesses that will benefit from a new convention centre regarding a limited special sales tax or surcharge to help with financing (a downtown improvement tax)The large, successful home-based insurance company should definitely be approached first about “headlining” sponsorship or a corporate municipal tax credit for a financial donationDescribe the nature of technology in operationsMajor form of communication for this companyAll ordering is done online, both the customers and the orders to ChinaDatabase of customers, addressesDatabase of previous product sold including teams, sizes, dates orderedInformation can be used to convince the customers to buy againCan use the information from previous orders to determine which shirts, sizes and teams will sell well—keep an inventory of theseCSDescribe the need for financial information CSDescribe the need for marketing dataMarketing information management is the process of collecting and organizing data and information about customer attitudes, and about the development, launch and success of new products. The procedures and outcomes must be organized so the business can make sense of the findings and benefit from the research. Marketing data is needed to understand the consumer (motivations, attitudes, perception, value ascribed to the product), the competition, the products themselves, and the reason for product successes and failures. Analyzing the data and understanding these things will improve the product or the service in ways that will satisfy consumers, and will also lead to accurate customer profiles which in turn can be used to predict the success of new products.Marketing data is also crucial in order to plan and carry out successful and cost effective promotional efforts – how do you advertise if you don’t know who you are trying to reach? Marketing data informs businesses about sales trends and patterns and helps perfect the timing of re-ordering, re-launching or discontinuing products. Marketing information can inform businesses about pricing levels and a customer’s perception of value.Describe the need for marketing informationStudents should mention the importance of collecting information about customers. The more a business knows about its customers, the better it can tailor its products and services to them. It can deliver products and services to meet and exceed customer expectations. This information also helps the business reach out to potential customers because it informs them about the customer profile of the target market.Marketing information management is a fancy term for managing data and information about customer attitudes and development of new products. Marketing research can be done of a formal or informal basis within small and large companies. For large businesses that utilize formal research, the procedures and outcomes must be organized so the business can make sense of the findings and benefit from the research.Without marketing information, businesses are left with no ability to analyze customer profiles. Marketing information is needed to understand the consumer and to therefore improve the product or the service in ways that will satisfy consumers. Marketing information is also crucial in order to plan and carry out successful and cost effective Promotional efforts – how do you advertise if you don’t know who you are trying to reach? Marketing information informs businesses about sales trends and patterns and helps perfect the timing of re-ordering or discontinuing products. Marketing information can inform businesses about pricing levels and a customer’s perception of value.Students should mention the importance of collecting information about customers. The more a business knows about its customers, the better it can tailor its products and services to them. It can deliver products and services to meet and exceed customer expectations. This information also helps the business reach out to potential customers because it informs them about the customer profile of the target market.SPDescribe the regulation of marketing-information management SPDescribe the regulation of promotion SPDescribe the role of business ethics in pricingThe main crux of pricing ethics concerns the establishment of a balance of power (through information) between the producer and consumer. In a completely free market, producers often have the upper hand which can lead to unethical practices such as the following. Price Fixing – the agreement between a group of people on the same side of a market to buy or sell a good or service at a fixed price. Bid Rigging – promising a commercial contract to one group, even though you make it look like multiple parties had the opportunity to submit a bid. Price Discrimination – the strategy of selling the same product at different prices to different groups of consumers usually based on the maximum they are willing to pay. Price Skimming – when the price of a product is first sold at a very high price and then gradually lowered in order to capture consumers who are willing to pay more first and then new groups are triggered with each decrease in price. Price Gouging – when a price is set higher than it normally is to take advantage of a sudden increase in demand or shortage of supply.Describe the role of business ethics in promotionE.g. business must be truthful in their disclosures in any advertisement. Attention to business ethics is on the rise across the world and many companies realize that in order to succeed, they must earn the respect and confidence of their customers. Like never before, corporations are being asked, encouraged and prodded to improve their business practices to emphasize legal and ethical behavior. Companies, professional firms and individuals alike are being held increasingly accountable for their actions, as demand grows for higher standards of corporate social responsibility.Important to conduct business in an ethical mannerFor the business’s long term sustainability Customers appreciation of good business practicesBusinesses should not put down their competitors but rather focus on promoting their own products and servicesThe company should not partake in false advertising or promote anything that would mislead their customersSPDescribe the role of customer voice in brandingBrands represent the values of the business and communicate a message to customer of what they can expect from the business in terms of quality, design, features, etc. Companies need to listen to customers and learn how to use their voices/wants/needs in their brand messaging. In many marketing initiatives that incorporate the voice of customers, efforts are made to associate the brand with the story of the customer. The story presented must be: Relatable to the customers’ wants/needs/circumstances; Positive to build the desired brand image using the story; and, Authentic to build credibility of the brand.Describe the role of governing bodies in the sport industryCSDescribe the role of merchandisers in retailing Describe the role of promotion in marketingDescribe the role of technology in risk managementDescribe the role of unions in sports and entertainment marketingPQDescribe the scope of the InternetThe Internet, is a global network that facilitates the exchange of data and information between users around the world. The Internet is used to access and exchange information, through such tools as websites, e-mails, blogs, news sites, social media sites, etc. Twitter, Facebook, LinkedIn and many job search sites may be used to reach potential managersDescribe the selling processSPDescribe the United States' judicial system SPDescribe the use of blogging for marketing communications SPDescribe the use of business ethics in promotionCovers a variety of issues including the provision of truthful, accurate and timely information to consumers, selling legal products,?promoting restricted products (alcohol, tobacco ) to minors, etc., mislabelling or misrepresenting (i.e. Grade AA beef vs. Grade A) Promotions must be truthful and non-deceptive.Must be evidence to validate claims. Important to conduct business in an ethical mannerFor the business’s long term sustainability Customers appreciation of good business practicesBusinesses should not put down their competitors but rather focus on promoting their own products and servicesThe company should not partake in false advertising or promote anything that would mislead their customersDescribe the use of color in advertisements (PR:123) (SP) SPDescribe the use of colour in advertisementsThere will be a broad range of acceptable answers for this performance indicator. Colour can be used to draw and hold interest and attention.SPDescribe the use of crisis management in public relations Describe the use of grades and standards in marketing.Grades and standards provide a common ground for comparison of products based on their features, functions, and quality.It allows for claims of “better than” and “leader in” to be used in advertising. Favourable comparisons help build trust in the brand over the competitors.SPDescribe the use of target marketing in professional selling SPDescribe the use of technology in customer relationship management Relationships have increased in importance in the field of business and marketing in the recent past. This importance can be linked to the changing nature of competition and technological developments. In this context, the question that has been posed is how these two factors affect the development of relationships. In the case of competition, relationships can serve as the basis for competitive advantage, while technology serves as the enabler of relationship building.SPDescribe the use of technology in distribution SPDescribe the use of technology in human resources managementTechnology has changed the business world many times over. In the Information Age, the advent of computers and the Internet has increased that impact significantly. Many businesses cannot even function without the use of computer technology. This impact is seen in nearly all areas of business, including human resources, where technology continues to have a significant impact on HR practices.Recruiting One way in which human resources has been significantly impacted by technology is in the area of recruiting. Before the Internet, HR recruiters had to rely on print publications, such as newspapers, to post jobs and get prospects for open positions. Other methods such as networking also were used, but HR recruiters did not have the ability to post a job in one or more locations and have millions of people see it all at once. Technology has made recruiting more efficient and, in the hands of the right recruiter, more effective as well.Training Information technology makes it possible for human resources professionals to train new staff members in a more efficient manner as well. The ability to access company information and training programs from remote locations eliminates the need for trainers to work directly with new hires on all training. Some interaction will always be necessary on some level, of course, but training in virtual classrooms makes it possible for the HR professionals to train a large number of employees quickly and to assess their progress through computerized testing programs.Data Storage and Retrieval Human resources professionals generally process a considerable amount of paperwork and also have to keep much of that paperwork on file for a considerable period of time. The use of electronic imaging has made it possible for companies to store and retrieve files in an electronic format. Technology also makes it possible for human resources professionals to simply print the forms that are needed for employees. Printing on demand eliminates the need to dig through an endless number of files in the file cabinet to find what is needed.Performance Management Enhanced performance management is another by-product of technological improvement. Human resources professionals can use computer technology to assess employee performance and also to get employee feedback to be used for the betterment of the organization. Various software programs make it possible for human resources professionals to examine employee performance using metrics to ensure that employees are meeting performance standards. Employees that don't measure up can be subjected to additional training or let go in favor a replacement that can come in and do the job.SPDescribe the use of technology in operations CSDescribe the use of technology in the channel management functionFrom a business and technological standpoint, perhaps the most significant change has stemmed from the rise of digital media.? We now live in a world where more than four billion people own mobile devices (a quarter of which are smart phones) and another billion have Facebook accounts.? Whether marketers like it or not, the “digitization of everything” is having a profound effect on direct marketing—from the strategies and tactics down to the individual communication channels. Technology has its impact in the Direct marketing channel. It can be in the form of:Smart phones to find and purchase productsOn-line banking Reminder emails and notices Banners on websites and social network sitesSocial networks like Facebook, Twitter, Snapchat, Instagram, etc.Email campaigns having bought selected e-mailsTechnology has created a new channel of distribution known as e-tailing where customers and industrial buyers make purchases using the Internet. The online shopping location is known as an e-marketplace. Use of the internet by the customer using a myriad of devices, provides greater convenience to the customer as they can shop from the convenience of their home, at any time of day. E-tailing also provides benefits to the business as orders can be delivered, received and processed electronically.Describe the use of technology in the distribution functionTechnology can help improve the distribution process – based on computer tracking methods, the buyer can track customer habits Tracking inventory with barcodes – ease in receiving processTechnology to monitor sales levels from month to monthInternet adds convenience to the distribution process – a company website customers to order cards that are not commonly carried on siteUse of kiosks so that customers can view inventory, check availability, and place orders on goods that are not readily available in the storeDescribe the use of technology in the financing functionSPDescribe the use of technology in the marketing-information management functionMarketing information systems provide information to support the marketing functions.Technology has increased the effectiveness and efficiency of marketing information systems and provided better tools for managing the information.Technology has made it easier for various staff members to access critical information from different locations.Needs to be easy access to recordsNeeds to allow files to be easily sharedThe patients’ files will be kept in a databaseHospital needs to create a plan of action to move forwardCreate a list of needs (needs assessment)Source possible companies in India or other countriesAsks for bids on the contractExamine all the bidsSelect the bid that meets all the requirements, ensures quality, and is the least expensiveBegin transferring filesProvide staff training on new technologyRoll out new technologySPDescribe the use of technology in the product/service management functionIn today’s technologically advanced world, technology is necessary in all aspects of product management. Technology allows companies to project the success of their product and test their markets without spending a lot of money. Technology also makes it easier to conduct research during the first phase of the product cycleTechnology can be used to experiment with new test products – on line sample of productsCan be used as means for surveying existing customers in terms of future wants and needs and providing feedback to samples of new test itemsCan be used as a means of reaching new customers through on line mailings and web pages with new test itemsTechnology can be used as a means of adoption or acceptance of a new product or innovation, according to the characteristics (demographic and psychological) of defined adopter groupsSPDescribe the use of technology in the promotion functionComputers-world wide web, on line advertising, online sales, on line cataloguesSmart phones with updates on sales, promotions, timed sales, one day promotionsLinks from computers to store for updates on new merchandise and promotions SPDescribe the use of technology in the selling functionComputers for online salesNotification of promotions and sales on lineCredit cards, chip and debit cards for purchasesComputers as cash registers; controls inventory and creates sales history and stores infoTrack customer information, correlate sales to customer profiles and track sales figuresUse past information to forecast potential new purchases for existing customers CSDescribe the uses of grades and standards in marketing Describe the various ways a business handles risksCSDescribe traits important to the success of employees in marketing communications Marketing skills and qualifications open up career opportunities in company marketing departments, marketing consultancies, advertising agencies and market research firms. Although the specific skill requirements may vary from job to job, the traits needed for success in marketing are consistent across the career spectrum. Good marketing people are first-class communicators, good team players and skilled project managers, with excellent analytic and creative munication Communication skills are an essential trait for a marketing career. In developing and presenting your marketing plans, you will communicate with the senior management team, finance director and sales manager. To obtain product information for marketing programs, you need to communicate with product managers and technical staff. You will also need to communicate with external specialists such as advertising agency staff, marketing consultants and other marketing services providers to explain your requirements.Analytic Marketing professionals need to have good analytical skills. You will be reviewing many different types of research reports providing statistics on factors such as market size, product sales, market share, consumer demographics and competitive activity. You need to understand and interpret the data so that you can make informed decisions on marketing strategy.Creative You need to understand the creative process to succeed in marketing. Part of your role is to brief creative staff such as designers and copywriters so that they can develop marketing material that communicates effectively with customers and prospects. Although you will not be developing creative work yourself, you must be able to evaluate the quality and effectiveness of the creative work that others produce.Project Management Marketing programs require careful project management to deliver results on time. You must be able to identify the different stages of a marketing program, establish a realistic schedule and allocate a budget. When the program is underway, you will need to coordinate the work of different specialists and suppliers to ensure the program meets its targets.Teamwork You must be a good player to work in marketing. In a company marketing department, you may be working with other marketing professionals, including marketing directors, marketing managers and specialists, such as public relations managers or research managers. Your own success depends on your ability to collaborate with colleagues inside and outside the marketing department. If you are working in an external marketing agency, you need to be able to build effective working relationships with your clients as well as colleagues within your company.Describe traits important to the success of employees in services marketingCSDescribe types of business activities SPDescribe types of business models Describe types of businesses in the food-marketing industryDescribe types of display arrangementsCSDescribe types of financial service providersBanks and Credit unions provide chequing and savings accounts, investment vehicles, as well as loans and mortgages.Investment banks which provide financial services to corporations (IPOs, mergers, underwriting, etc.)Insurance companies provide life insurance (term and equity), and insurance for your car, house, health, etc.Accountants specialize in many things such as tax, small business, audit, financial analysis Financial planners will help a family understand, plan and implement a saving/spending planInvestment companies and brokerages provide stocks, bonds, mutual funds, etc. for people to invest inThree different types of financial service providers : Dealer, local bank, finance companyAll provide loans for the customer to purchase the car however they have different amounts of payments and annual percentage ratesCreates and sells financial products or services. Banking, securities, real estate, and insurance are all financial service industriesan investment portfolio company advises clients how/where to investpayment to the financial investment company may be either flat fee (per year, per month….) or a % of the portfolio, such as 1-2% of the amount the customer investsCSDescribe types of financial-services providers SPDescribe types of rating scales (including Likert scales, semantic differential scales, behavior intention scales, etc.) SPDescribe word-of-mouth channels used to communicate with targeted audiencesWord of mouth advertising?(WOM) is the unpaid spread of a positive marketing message from person to person. It can take place directly using the human voice, or can be transmitted via any communicative means such as through e-mail, social networking sites, blogs, review/referral channels, or text messages.Marketers have long used "word of mouth" (WOM) promotion campaigns. The idea is to get people to pass information about a product to other people. The idea in these kinds of WOM campaigns is to reach segments of consumers who distrust paid advertising by creating the illusion that the message comes from someone who is like the message recipient.Social networking has enabled marketers to make practical use of “viral marketing,” “buzz marketing,” “guerilla marketing,” and other forms of "word of mouth" marketing that rely on social networking. The general idea of viral marketing is to "let the behaviours of the target community carry the message."Design a store’s layoutDesign and explain a store’s layoutSPDetermine advertising reach of media SPDetermine and respond appropriately to personality types Determine creditworthiness of customersDetermine customer demand for merchandise CSDetermine customer/client needsThe participant should use the following strategies to indentify out what a customer/client needs are: QuestioningObservingListeningAfter carefully doing all of the above, vendors should continue to observe and listen carefully while making suggestions of merchandise to the client. They should listen for verbal and non-verbal clues and respond / alter their responses appropriatelyDetermine discounts and allowances that can be used to adjust base pricesCSDetermine economic utilities created by business activitiesEconomic utility is defined as the measure of satisfaction received by a consumer from consuming a good or service. Generally, the more of a good or service is consumed, the greater the utility, however the additional satisfaction, or amount of utility, gained from each extra unit of consumption decreases. This concept is known as Marginal Utility. Determine event features and benefits Benefitsincrease in sales revenue/profitdevelopment of relationship with Cadillac and PGA for possible future venturesdevelop brand associationFeaturesopen viewing to practicing golferscar display with open viewingsales associates on siteautograph session “brought to you by Cadillac”Determine factors affecting a business’s profit.Profit is the monetary return a business’ owner receives for taking the risk of investing in the business. Profit equals income less expensesGross profit and net profitGross profit – money left over after the cost of goods is subtracted from income from salesNet profit – money left over after operating expenses are subtracted from gross profitFactors that affect profit include demand for the good/service, expenses, prices, the economy and chance. To try to increase profit, a business can increase worker efficiency, increase sales and/or decrease expenses.CSDetermine factors affecting business riskBusiness risk is the potential for business loss or failure3 kinds of business risk: economic, natural and humanEconomic- occur from changes in overall business conditions (competition, changing consumer lifestyles, population changes, limited usefulness or stylishness of some products, product obsolescence, government regulation, inflation or recession)Natural- result from natural causes (weather conditions-floods, fires, hurricanes, etc.)Human-caused by human mistakes and the unpredictability of employees or customers (dishonesty, carelessness, incompetence, accidents, illness, non-payment of accounts)There are many types of risks businesses face—political, financial, social, economic, legal, theft, safety, etc.There are many types of risks faced in the restaurant industry—alcohol, underage drinking, fire, burns, food poisoning, spills, broken glass, etc.It is important that businesses anticipate possible risks and create plans to deal with these risks.If possible, businesses should find ways to make certain that the risks are prevented before they occurSPDetermine final cost of purchases from domestic and international sources Determine forms of economic utility created by marketing activitiesSUDetermine hiring needsThe student in the role of human resources manager should identify hiring needs for the business in question.Hiring needs may include: security, cooks, wait staff, kitchen staff, technical staff, sales staff, catering, banquet and special events, Event operations , engineering technicians, Custodial staff, Parking staff, Medical staff – Paramedics/First AidKeeping in mind all of the above needs to be accomplished promptlyMNDetermine initial feasibility of product idea SPDetermine inventory shrinkage Determine merchandising opportunities for a sport/eventSPDetermine on-floor assortments CSDetermine personal net worth SPDetermine professional certification requirements in marketing research SPDetermine prospect's buying motives for use in selling SPDetermine quality of merchandise to offerFirst, the products must be of high quality; this helps to ensure the customer will return for more purchases in the future. Along with the quality, the retailer must also sell the products at prices the consumer finds reasonable. By providing quality products at affordable prices, the retailer has a much better chance of standing out from the competition and remaining in business for many years to come. However the higher the quality, the higher the price, and the older the client must be in order to afford those prices. The balance must be achieved to have the highest possible sales with the lowest possible price.SPDetermine quantities to buy/reorder SPDetermine sales strategies MNDetermine services to provide customers Create a “healthy value menu”To attract customers to the newer products, we can offer a different healthy product at a reduced price for each day of the weekAlways provide the best service for the customers. Create a pleasant atmosphere, and treat the customer as king/queen Services include short and long term rental for individuals and/or groupsGroup services for companies require office equipment availability, Internet service and perhaps event management assistanceInformation about and assistance with area amenities should be available (discounts)information about rental of mountain bikes, walking trails, historic sites should be availablelong term rentals would require laundry facilitiesdining room needs to provide for a variety of dietary needs e.g. vegetariancommunity dining room provides a form of entertainment for guests and a unique dining experience not found in other restaurantsSPDetermine sources of relevant, new marketing data Determine space requirements and allocationDetermine sport/event features and benefitsSPDetermine stock turnover Determine the cost of product (breakeven, ROI, markup)Determine the economic utilities created by business activitiesSPDetermine the impact of business cycles on business activities SPDetermine the impact of products standards’ issues associated with global businessEvery country has governing bodies that institute product quality and safety standards to protect the interests of consumers. When conducting business globally, meeting these requirements in different countries may require product modifications, which may be costly. The International Organization for Standardization – an independent, non-governmental organization with members from 164 countries works to establish common standards between nations. The standards help businesses increase productivity while minimizing errors and waste. By enabling products from different markets to be directly compared, they facilitate companies in entering new markets and assist in the development of global trade on a fair basis. The standards also serve to safeguard consumers and the end-users of products and services, ensuring that certified products conform to the minimum standards set internationally.SPDetermine the nature of organizational goalsCompany’s overall goal is its mission statementCompanies set long term (1-3 years) and short term (less than 1 year) goalsCompanies set strategies to attain the goalsCompanies need to set sales targets and/or performance expectations for employees, to give employees a frame of reference for self-managementGoals can be categorized as: financial (profitability, increased sales, market share), customer-centred (service), product-related (innovations), operational efficiencies, regulatory objectives, and, employee learning and growth related. Determine the profitability of business servicesCSDetermine the relationship between government and business CSDetermine the relationship between government and businessNB: students may struggle with this unnecessarily confusing phrasing ("determine") crafted by US DECA ernment and business can work separately or in partnership with each other.They can work together to provide goods and services to people in P3s - public - private partnerships. Often these partnerships are formed to build expensive infrastructure like hospitals, roadways and even athletic stadiums or to provide essential goods and services to those in ernment-run businesses can also be sold to private people (privatization)Determine visionSafety is one section that requires a vision.The manager must set a vision for the business that makes safety a priorityHe/she should reward staff that are following safe practices and providing quality customer service with regard to safety.Safety practices should be reported at all staff and be a part of the regular communication with the staff—perhaps a count of how many days accident free.CSDetermine ways of reinforcing the company’s image through employee performanceThe participant should identify the need for positive employee performance and mention some of the ideas listed below:staff can improve customer satisfaction by carefully, quickly and pleasantly handling .customer transactions, and, knowing the various services offered by the company/store as well as who can help the customer with those services. pleasant greeting and a reassuring departure are useful tools in maintaining a good imageOffer helpful comments during and after a transaction and always thank the customer in order to build a good relationshipFollow up on all promises made to a customer, and check on their level of satisfaction after a purchasePositive customer-client relations require compassionate and immediate action when dealing with complaints and inquiries. Creating a harmonious working environment will improve employee morale and be genuinely passed on to the customerSPDetermine what to buy/reorder If the item purchase is a one-time buy:Find out how much time it takes between ordering the product and having it arrive in the warehouse. Order the desired quantity to arrive 2 weeks before you require it so that there is time to adjust for errors in the order, and to prepare it for display.If the item purchase will be an ongoing stocked item:Minimum reorder point = weeks it takes to get the item in X the number of items normally sold per week.Whenever the number of items = the minimum reorder point, more items are ordered.SPDetermine when to buy/reorder Develop a company’s/department’s budgetDevelop a compensation planDevelop a marketing planDevelop a personnel organizational planDevelop a plan for effective communications in a food marketing businessDevelop a project planRecognize that incremental improvements are not sufficient to address the (fundamental) problems in the business described.Identify clear objectives for what the project will be about; improving the way the store is operated from the customer’s perspective.Identify steps that will need to be taken to achieve the desired resultsA project plan answers the following basic questions regarding the project:Why? - What is the task related to the project? Why is the project is being done?What? - What are the activities required to successfully complete the project? What are the main products or deliverables?Who? - Who will take part in the project and what are their responsibilities during the project? How can they be organized?When? - What exactly is the project schedule and when can the milestones be completed?Develop a promotional planDevelop a promotional plan for a businessDevelop a public relations planCSDevelop an achievement orientationAchievement orientation is about getting results. It can be about working toward excellence or a personal desire to do better than before. People who are achievement oriented set high standards. Achievement orientations have been shown to be associated with individuals’?academic achievement, adjustment, and well-being. An employee with strong Achievement Orientation will be:Open to new challengesHave a greater ability to anticipate obstaclesWilling to be held accountable for their actionsFocus on identifying ways to do things betterLearn how to initiate actions to improve personal performanceCultivate new strategies for obtaining informationBecome more successful in taking advantage of opportunitiesDeveloping this orientation includes the activities to promote or enhance this orientation, such as: ?setting realistic goals, monitoring the attainment and alignment of these goals.Develop and explain sales incentive programsSPDevelop and package content for social distribution SPDevelop communications plan Develop contingency plans for eventsDevelop cultural sensitivitySPDevelop insights using trends occurring in other industries Develop job descriptionsMNDevelop marketing planCSDevelop personal budget Develop policies and procedures for preventing vendor theftDevelop positioning concept for a new productSPDevelop positioning concept for a new product ideaPositioning is a marketing strategy that aims to make a brand occupy a distinct position, relative to competing brands, in the mind of the customer. Companies apply this strategy either by emphasizing the distinguishing features of their brand (what it is, what it does and how, etc.) or they may try to create a suitable image (inexpensive or premium, utilitarian or luxurious, entry-level or high-end, etc.) through advertising. Once a brand is positioned, it is very difficult to reposition it without destroying its credibility. It is also called product positioning. To be successful in a particular market a product must occupy an “explicit, distinct and proper place in the minds of all potential and existing consumers”. It has to also be relative to other rival products on the market of which is has to compete with.Target market – position product to attract consumers who are environmentally conscious and concerned about nutrition and animal welfareConsumers want to choose products which suit their “ethical” view of life – disposable income at level to be able to choose more expensive alternatives in food productsNiche market – green marketingHigh quality – higher price Develop procedures for safeguarding cashDevelop procedures to prevent security problems in food marketing businesses. Develop production schedules for eventsSPDevelop project plan Recognize that incremental improvements are not sufficient to address the (fundamental) problems in the business described.Identify clear objectives for what the project will be about; improving the way the store is operated from the customer’s perspective.Identify steps that will need to be taken to achieve the desired resultsA project plan answers the following basic questions regarding the project:Why? - What is the task related to the project? Why is the project is being done?What? - What are the activities required to successfully complete the project? What are the main products or deliverables?Who? - Who will take part in the project and what are their responsibilities during the project? How can they be organized?When? - What exactly is the project schedule and when can the milestones be completed?SPDevelop promotional calendarDetermine appropriate calendar cycle.? January through December is a common calendar as is the September to August cycle. The important factor is that the calendar should make sense for the product offering.Incorporate seasonality as it relates to your offering.?For most businesses this means Spring, Summer, Fall and Winter. Determine what options make sense for your business.Add relevant annual events and holidays. Choose those events that resonate with your target market and are appropriate for your product array. For example, creating a Valentine’s Day promotion for a business media entity doesn’t make sense.Assess past performance.?Analyze the results from the prior year, the year-to-date, and the budget. What trends do you see? Which promotions resonate best with customers? Don’t forget to document factors that could have influenced your sales such as major weather interruptions. Consider when you’ll include discounts versus discount pricing.Monitor your?competitors.?Determine what promotions competitors are using and if you may be missing?events that should be added to your plans.Create schedule of promotions.?Name each promotion or event. Consider the timing of the event as well as your overall pricing to maximize profitability. For example, you don’t want to reduce prices at the beginning of a season. Instead you can give your best customers a sneak peak.Incorporate merchandise and related seasonal offerings.?Create an aura around your new product. Include early bird options as well as mid-season additions to provide a fresher look for your products. Maximize your promotions by taking extra photographs for later.Schedule appropriate related social media activity. As part of your promotions determine how you’ll present your content and merchandise on social media. Will you need additional content including photographs and video for social media? Can you create this at the same time that you’re developing your main promotion so that there’s limited additional cost? Assess and incorporate lead time. Include promotion creation, scheduling and product. Make sure that you’ve allowed sufficient timing.Create backup plans (and where appropriate, rain dates.)?You need a backup plan. What will you do if there’s reason you can’t have your promotion?Track results. As with any marketing, it’s critical to monitor your actual results against your budget and forecast.Modify promotions as needed. Continually reassess your promotional calendar to see whether you need to make changes. Where possible, have backup options in case something happens to one or more of your promotions.Develop promotional plan for a businessCSDevelop rapport with customers.Rapport is all about highlighting common interests and establishing a mutual feeling of friendliness. When people like each other – whether in business, friendship, or both – they tend to help each other.Most salespeople are naturally enthusiastic, positive, and outgoing people, but that doesn't necessarily mean everyone will like you off the bat. Here are three ways you can increase your rapport rating with prospects and customers:Match your customer's style. Pay attention to how your customer prefers to communicate and get in step. Does your customer prefer to get right down to business, or warm up by engaging in small talk? What kinds of things does he or she find funny, interesting, or intriguing? If your customer talks quickly and loudly, make an effort to match that energy. Trust builds rapport. Your customers will learn to trust you if you do what you say. Keep your commitments, call when you say you will, and always follow through. Be careful not to make promises you might not be able to keep. Too many salespeople make well-intentioned commitments, only to find themselves unable to find time to fulfill them. They may not always lose a sale because of this, but they're certainly not building the kind of trust that will make that customer anxious to give referrals.Another way to build trust is to demonstrate that you're interested in their well-being -- beyond your own profit potential. Know and appreciate your customers' needs beyond your product. See what you can do to help them meet those needs. Little things like finding information for them or putting them in touch with other suppliers tend to make a big difference.Practice reciprocity. When you treat people in a certain way, they tend to want to treat you in the same way. Find ways to treat your customers as valued members of your professional and even social circle. In life and in business, the little things make a big difference.SPDevelop schedule for marketing communications assignment Develop service guaranteesDevelop strategies to position a product/businessExplain how the customer will be attracted to purchase the products/patron our businessTake advantage of the history of our business Promote the popular products that have lasted and the new ones being introducedA product's position is how potential buyers view the product and is expressed relative to the position of competitors.How did the participant position the product? Was it through product attribute, price or quality, product user, respect to competitors, etc.? Did the Participant list significant competitors and describe their position in the marketDid they describe the company’s current product/service position in the minds of customers? Did the participant identify an attribute that differentiates the company from its competitors? Was target market considered? Develop strategies to protect digital dataSPDevelop strategies to win back former customers Develop tolerance for ambiguity (EI:092) (CS)*Develop viral sport/event marketing strategiesSPDevise/Enact merchandise security measures to minimize inventory shrinkageParticipant may mention possible ways to minimize inventory shrinkage, including:Locking up high value itemsHaving limited inventory on the sales floorInstalling security devices, e.g., tagsHaving more store personnel on hand to monitor and assist customersSPDifferentiate between consumer and organizational buying behavior Differentiate between ethics and social responsibilityDifferentiate between required employer contributions and additional benefits that an employer might offer.An employer is required to deduct 3 things from an employee’s pay. Any other deductions are voluntary on the part of the employee (although, in the mining industry purchasing AD&D insurance is often a required condition of employment). The 3 mandatory deductions are: FIT (Federal Income Tax), CPP (Canada Pension Plan) and EI (Employment Insurance). The employer must match the employee portions of CPP (1:1) and EI (1.4:1).All other benefits are voluntary. Employers buy benefits packages from companies such as Sunlife, Manulife, or other insurance companies and offer benefits to attract good employees and offer attractive compensation packages. Most voluntary benefits are offered at single or family rates.CSDifferentiate between service marketing and product marketingIn this example the participant should describe the differences between products or services in order to demonstrate the unique aspects of the Inn’s product and create a sense of value. Participant should have a good understanding of the 7 p’s of service marketing: product, price, place and promotion, people, processes and physical evidence. In describing product marketing the participant should discuss: What products will be offered? Who will be the target customers? How will the products reach those? At What price should the products be offered?Examples of the marketable service involved with the Inn’s airport shuttle/ parking would be as follows:Ease of booking Location of shuttle drop off/ pick up, Training, efficiency and friendliness of the staffDriver knowledge of local areaExamples of the product marketing involved with the Inn’s airport shuttle/ parking would be as follows:Target Market- Business TravelerQuality of the Shuttle BusAvailability of parking spotsDistribution channels: company website, airport sites, social media sites local travel guidesComplimentary Shuttle Service- as an amenity cost of parking at the Inn to be priced mid-range between the two main competitive prices offered at the airport. Differentiate between warranties and guaranteesSPDiscuss actions employees can take to achieve the company’s desired results. Employees, all have the responsibility on behalf of the store of satisfying the customer’s needs (motives) Employees have to realize that their success and enjoyment on the job depends on how successful the store is, so they have to be prepared to contribute to helping the store to become more successful.Discuss actions that employees can take to achieve the company’s desired results.Employees all have the responsibility on behalf of the business of satisfying the customer’s needs. Employees have to realize that their success and enjoyment on the job depends on how successful the store is, so they have to be prepared to contribute to helping the store to become more successful.Specific actions an employee can take to improve the business include:organize & prioritize, stop multitasking, avoid distractions, manage interruptionsbe a great finisherset milestones, wear the bosses shoes, get a mentor/be a mentor, identify your blind spotssimply listen, aim for clarity, research, simplify something, ask questionsknow your competitionacknowledge others, practice humilityCSDiscuss considerations in selecting a financial-services providersChoose someone who listens carefully and understands your needs. Do you trust them?Does their approach match what you’re comfortable with and want?Check that they have a qualification in financial planningCheck that they have a successful history (how many clients they have, whether any disciplinary actions have been taken, how long they’ve been a planner, what products they’re registered to sell, their track record, whether this is the only thing they do)Ask for referencesCompare fees with other plannersSPDiscuss considerations in using mobile technology for promotional activities SPDiscuss internal and external audiences for public-relations activitiesPublic relations activities are designed to influence the perceptions of a specific group of people. Activities can be created for Internal or External audiences. An internal audience is a company’s employees. For example, a company may create a public relations campaign to change attitudes or create awareness of policies for employees. An External audience is a market of consumersDiscuss legal ramifications of breaching rules and regulations. SPDiscuss motivational theories that impact buying behavior People act to fulfill their needs based on a five-part priority system. The needs include, in order of importance: physiological (survival), safety, love, esteem, and self-actualization.These motivations explain the need to tailor marketing messages to consumers in a particular way. Successful marketing campaigns must not only bring awareness to a product, but also establish its place somewhere on the hierarchy of needs. Consumers are motivated to prioritize purchases toward the base of the hierarchy, so it is vital that companies draft a message that instills a sense of need or urgency in consumers.Marketers have been able to use motivation-need theory very effectively by creating an artificial need for consumers. For example, modern luxury carmakers are especially good at highlighting the safety and security features of their vehicles over the aesthetic. In the consumer’s mind, they need to spend the money on an expensive luxury car because it is the only way they can provide adequate safety features for their family.SPDiscuss motivational theories that impact buying behaviourPeople act to fulfill their needs based on a five-part priority system. The needs include, in order of importance: physiological (survival), safety, love, esteem, and self-actualization.These motivations explain the need to tailor marketing messages to consumers in a particular way. Successful marketing campaigns must not only bring awareness to a product, but also establish its place somewhere on the hierarchy of needs. Consumers are motivated to prioritize purchases toward the base of the hierarchy, so it is vital that companies draft a message that instills a sense of need or urgency in consumers.Marketers have been able to use motivation-need theory very effectively by creating an artificial need for consumers. For example, modern luxury carmakers are especially good at highlighting the safety and security features of their vehicles over the aesthetic. In the consumer’s mind, they need to spend the money on an expensive luxury car because it is the only way they can provide adequate safety features for their family.PQDiscuss principles of computer systems Discuss product categories and classifications of products in food marketing departmentsSPDiscuss sampling issues with international marketing research projects SPDiscuss sampling techniques and issues associated with Internet sampling SPDiscuss the economic and social effects of marketing communications SPDiscuss the economic and social effects of professional selling SPDiscuss the global environment in which businesses operate SPDiscuss the impact of a nation’s unemployment ratesThe currency market is the most driven by the Employment Report. An unanticipated rise in employment, for example, means a rise in the dollar. Reactions to surprises relate to the implications on short-term interest rates. The currency market has become increasingly sensitive to the data and pays particular attention to the unemployment rate.The bond market is concerned with what the unemployment rate may indicate about inflation and interest rates. A strong employment report may indicate an economy that is heating up too quickly, leading economists and traders to become concerned about inflationary pressure. However, it can also raise concerns about tightermonetary policy and forthcoming interest rate increases. The equity market looks for rising employment as a sign of corporate optimism and growth potential. It is also concerned with inflation and interest rates, but to a lesser degree.SPDiscuss the impact of bribery and foreign monetary payments on business SPDiscuss the impact of cultural and social environments on global trade Understanding different cultures and social norms – better understanding of customers – better marketing effortsUnderstanding of different cultures and social norms helps to establish better supplier/buyer relationshipsSPDiscuss the impact of globalization on business Discuss the impact of unemployment rates SPDiscuss the importance of ethics in data mining SPDiscuss the importance of utilizing ethical purchasing methods SPDiscuss the measure of consumer spending as an economic indicator Discuss the nature and scope of risk managementSPDiscuss the nature of business customs and practices in Sub-Saharan Africa SPDiscuss the nature of business customs and practices in the Middle East SPDiscuss the nature of customer relationship managementCustomer relationship management (CRM) is a term that refers to practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers, assisting in customer retention and driving sales growthCSDiscuss the nature of data mining SPDiscuss the nature of debtor-creditor relationships System for collecting money from other businesses:Sales team generates sales invoice and sends one copy to the customer and one to Accounts ReceivableA/R records daily invoices and payments, and, prepares the daily deposit cross-checking that the electronic total (keyed in to the system) = physical total (physical cheques and wire/electronic transfers)To minimize losses on foreign exchange, payments need to be in our country’s currency (not the international clients’)A/R overdue reports are printed (at least) monthly; overdue accounts are contacted Delinquent accounts can be sold to collection companies, have legal proceedings started to collect, or be written offSystem for collecting money from in-store customers: In stores, a debit/credit machine purchased from Moneris or like-company, is needed to transfer sales money from the teller to the company’s bank account; these daily cash sales are reconciled and fees are recordedFrom on-line sources, daily cash sales are reconciled and fees are recordedA payment system for companies selling to other companies would include the following: Companies applying for credit terms prior so they can be invoiced rather than pay COD (cash on delivery)Companies paying their debts primarily by company cheque or wire transferLarge, multi-period bills like contracts will often require interim/progress paymentsA return policyPayment terms of 30 days with interest charged on overdue accountsLetters, collection agencies, legal follow-up for delinquent accountsFor companies selling to the general public (outlet stores, brand name stores), payment system components would include:For in-person sales, accepting cash, debit card, or credit card (no personal cheques)For online purchases, the company can set up a shopping cart check out, or arrange a 3rd party payment system (like PayPal), or accept e-transfers; shipping must be included; and, the currency must be our country’s currencyA return policySPDiscuss the nature of effective direct-mail copy Advertising through the mail is a useful marketing tactic for businesses selling goods or services or nonprofits raising money. Direct mail is the strategy of using the postal system to directly reach prospects with a marketing message. Writing effective direct mail copy takes practice and technique. As the industry has matured, several direct mailing strategies have proved to lead to better results.Before writing your letterDefine the need. Consider the recipients' desires that you hope to satisfy with your product or nonprofit. Highlight how buying or donating as you suggest will make the person's life better. Use the letter to explain the need you are trying to fill.Focus on benefits, not features. Features tell the specifics of the product or organization, such as "180 horsepower" or "we support a multidisciplinary approach to homelessness." Benefits show how the person reading the letter -- or the world at large -- will be better off if the recipient heeds your call to action. Examples of benefits include "cuts your workload in half" and "we strengthen our community by making sure families don't go hungry." People are more likely to take action when you focus on benefits.Outline your offer. Decide what you will be asking readers to do. If you are selling a product, define the special deal you are offering consumers. If you are asking for a donation, figure out how much you would like the recipient to give and what gifts or recognition they will receive in return for their support.While writing your letterWrite to a "typical prospect." Recipients respond better to letters that are written in an easy and conversational tone, as you might write to a friend. Envision your typical prospect. Outline what the average person on your mailing list looks like. Your average prospect could be a senior citizen living in your community, a young professional in a major metropolitan area or anything in between. Write as if you are writing directly to that person.Write for scanners and readers. Most people will scan your letter before deciding whether to read the whole thing. Persuade them to read by using powerful headings, subheadings, captions and bold and italicized words that convey your message clearly and make them want to read. Include more information in the narrative of the letter so when they do decide to read it through, they will find substantive information and compelling stories and testimonials.Use the word "you." Readers like to read letters that talk directly to and about them as opposed to letters that talk mostly about the company or organization that sent it. Rather than saying, "Our flashlights are the best because they are the most powerful," say, "You will never find a more powerful flashlight for your home or car."Include a clear call to action. People don't make purchases or donations unless they are asked. A strong call to action tells the reader what you want her to do and then asks her to do it. Include information on how to perform the requested action, such as where to send the check or how to choose between a number of options.SPDiscuss the nature of environmental law CSDiscuss the nature of human resources managementHuman resources management refers to the management of a business’s workforce. Human resources management involves a variety of functions including recruiting, hiring, training, evaluation, performance management, benefits, compensation, employee health and safety, ensuring adherence to labour laws, etc. Effective human resources management processes and procedures are critical to the efficient and successful operation of a business, and can have an impact on the organization, its employees, and its customers. Human Resources Management [HRM] is a set of organizational activities directed at attracting, developing, and maintaining an effective workforce.It involves processes such as hiring, orientation, professional development, counselling, and dismissals through which the department tries to motivate and retain qualified personnel to operate the company effectively.CSDiscuss the nature of information managementInformation management is the collection and management of information from one or more sources and the distribution of that information to one or more audiences. It also refers to the organization and control over the structure, processing and delivery of information. Students may summarize this be saying that IM is the ability of a business to use information about its products, customers and competitors to its advantageSPDiscuss the nature of law and sources of law in the United States /Canada Legislation?is enacted at all levels of government in?Canada?- the federal government, the provinces and territories, municipalities - and forms a major body of law. Our elected representatives introduce and debate proposed?laws?dealing with matters within their jurisdiction.There are three sources of law in Canada:Constitutional Law (derived from the Canadian Constitution) and is based on the BNA act 1867 (Socials 10), the Constitution Act 1982, and the Canadian Charter of Rights and Freedoms. It overrides Statute and Common Law.Statute Law (derived from elected government representatives at all levels of government) Some examples of Statute Law are: The Criminal Code, the Highway Traffic Act, and the Youth Criminal Justice Act. These laws override Common mon Law (aka Case law) is based on previous precedent-setting legal decisionsThere is Public Law and Private Law.Public Law is where people or businesses are prosecuted in the interest of the public by government representatives (Crown lawyers).Private Law is where an individual or group wants to sue another individual group for damages to person or property. This is also know as Civil Law.SPDiscuss the nature of marketing research problems/issuesParticipants can cite problems including; the difficulty in properly assessing or measuring the results of spending on promotion (how do you know if your sale worked, or if your commercial was impactful), the difficulty in finding willing survey participants, the reliability of responses to questionnaires and surveys, the expense incurred in conducting primary research, as well as various issues with privacy of personal information that consumers may have.CSDiscuss the nature of retirement planningSimply put, during the working years, a person needs to put aside enough money to live on once they no longer have income (retire). Planning considerations include: determining how much money you will need (living, travelling, long-term care, life expectancy, taxes), what sources of income you will have (pension, investments, government incomeSPDiscuss the nature of sampling plans (i.e., who, how many, how chosen) The sampling plan outlines the data that is to be collected, how the data will be measured and how the data will be used in the research by the company.Discuss the nature of service standardsSPDiscuss the nature of typography CSDiscuss the relationship between promotion and marketing Marketing involves the 4 P’s (product, place, price, promotion) and all the activities and strategies in researching and getting the product a customer needs/wants to where the customer wants it, in the size, shape, colour and packaging they want, when they want it, and at a price they want.Promotions are part of marketing, and elicit the involvement of the customer to keep the product or brand at the top-of-mind. Examples of devices used in sales promotion include coupons, samples, premiums, point-of-purchase (POP) displays, contests, rebates, and sweepstakes.Discuss the reserve capacity rating for a batterySPDiscuss the role of administrative law SPDiscuss the role of customer voice in word-of-mouth strategies SPDiscuss the role of ethics in accounting SPDiscuss the role of ethics in finance SPDiscuss the role of ethics in operationsEthics in operations, specifically purchasing, involves conducting business with suppliers/vendors in good faith, granting all competing suppliers/vendors fair and equal consideration, requiring honesty and accurate representation of goods and services from all suppliers, and ensuring activities are conducting according to the law and business policies.Discuss the role of people in services marketingSPDiscuss the use of electronic data interchange (EDI) SPDiscuss the use of marketing/creative briefs SPDiscuss the use of podcasts/webcasts Podcast producers use personal or workplace computers to combine voice, music and sound effects into a composition that tells a story or expresses opinion on a social issue or trend. Some podcasts also use video. Usually, a podcast centers around a specific interest of the producers and the audience. Reviews, humour, ruminations, poetry, reflection, gossip and personal interviews might be featured or included in snippets or segments.A webcast differs from a podcast because the recorded event usually includes live spectators in addition to an online audience. Webcasts might also include tools for audience interaction. The audience either watches online as the featured event occurs or downloads a recording afterward. Events that are often webcasted include speeches, games, church services, television shows and classroom lectures. Businesses use webcasts to train employees about new protocols, for continuing education, or just to motivate and inspire. During the webcast, the agents could submit questions into their computers for the speaker to respond to on the fly. Polls, quizzes and chat rooms are also part of webcasting.SPDiscuss the use of search-engine optimization tactics for digital marketing SPDiscuss the use of social bookmarking/tagging SPDiscuss types of direct mail tactics CSDismantle/Store displays/display fixtures/forms SPDisplay data in charts/graphs or in tables CSDistinguish between economic goods and servicesEconomic goods are tangible items such as products or materials that satisfy consumer wants or needs.Economic services are intangible and satisfy consumer wants or needs such as haircuts, dry cleaning, or massages. Services cannot be owned or returned by someone as could be with a good. Services are delivered by a service provider who is paid to do so by a consumer.Distinguish between merchandising and marketingCSDistinguish between retailing and marketing Retailing is the process of selling goodsMarketing is raising product awareness and persuading the selection of your product over other competing goodsCSDistinguish between using social media for business and personal purposesSocial media for business is?extremely?different than social media for personal use. While the broad concepts are somewhat similar, there are several differences that are important to know. Here are three major ones:HashtagsPersonal Use: Hashtags are meant to designate the topic of your post. In a social context it could be something like #Halloween2015 to populate your post when anyone searches for anything on the topic of Halloween2015.Professional Use: Though they have little importance to people who use social media for personal reasons, hashtags are essential?for small businesses on Facebook, Twitter, Instagram and Pinterest. They can help people find your business easily, and they expand the reach of your posts.No matter which social network you use,?hashtags are important.?They are a key component of social media marketing, and it’s important to learn how to use them properly.ImagesPersonal Use: Typically, people share photos of their vacations, the food they eat and anything else they find interesting. Photographs are interesting to look at, and sometimes simply writing a post about something doesn’t do it justice.Professional Use: When it comes to marketing your business, photos serve a very different purpose. Instead of showing what you’re up to and who you’re with, it’s better to show pictures of your products and any ads or promotions you have going on at the time.When it comes to social media marketing strategy, there’s much more to images than you think. For a personal profile, you can pretty much upload any images you want (although consider who you have in your personal networks who may be tied to your professional networks). For a business, that’s not the case. It’s important to learn what type of images to use, and what to do with them once they’re uploaded. AnalyticsPersonal Use: Analytics are a way to collect data about your website or your Facebook business page, and they really don’t apply to a personal profile. Long story short,?they have no personal use, and most people have never seen them.Professional Use: Analytics are?critically?important to a successful social media campaign for a small business. You can use them to measure who is looking at your website, when they look at it, where they are, and what pages they click on. Facebook also has its own analytics program called Insights that measures data for your business page. The information you gain from this data is crucial to the future success of your business. Without it, you will have a hard time tailoring your online marketing strategy to the specific needs of your business.When it comes to your personal profile, analytics are nonexistent and unnecessary. When you use social media for a business, however,?they are crucial to success. They can be data-heavy and difficult to comprehend. That’s why it’s important to learn how to interpret them properly, so you can use this data?to your advantage.CSDistinguish between visual merchandising and display Visual merchandising refers to anything that can be seen by the customer inside and outside a store, including displays, decorations, signs and layout of space. The overall purpose of visual merchandising is to get customers to come into the store and spend money.In-store visual merchandising can be used to capture the attention of consumers while they are in the store, which is essential in the buying decision-making process. To capture the attention of the customer, the retailer must consider the customer's needs during this process. Factors that contribute to the overall in-store design include; the store layout, store design, point of purchases displays, item display, assortment display, and signage. When applied successfully to a store, these factors can meet the needs of the consumer and provide a positive in-store purchasing environment.SPDocument marketing processes Draw conclusions based on information analysis (NF:278) (CS)* CSEdit and revise written work consistent with professional standards SPEdit/clean research data Elements of the promotional mix arePersonal SellingAdvertisingDirect Marketing (i.e. direct mail)Sales PromotionPublic Relations and Publicity Students should propose a marketing campaign for ABC that includes effective and coordinated use of the elements of the marketing mixSPEmploy career-advancement strategies in marketingEmployees should consider all opportunities to participate in activities that will advance their careers. Often, employees neglect the "in-house" opportunities that companies offer their employees. These may include training, tuition assistance programs and even mentoring, that can assist in achieving their career goals. Being flexible and gaining a reputation as a “doer” and “self-starter” is critical to advancing your career. Also, being available to work extra hours or put in extra time is a helpful strategy. CSEmploy communication strategies appropriate to target audienceWritten communications dispatched by mail e.g. statements detailing tax liabilities and payment schedules. Paper-based items sent by mail have the advantage of providing a clear, fileable statement that is likely to reach its intended recipient. Writing is used when you have to provide detailed information such as figures and facts, even while giving a presentation. It is also generally used to send documents and other important material to stakeholders which could then be stored for later use as it can be referred to easily as it is recorded. Oral communications: customers can 'phone in' with their queries. They can also speak directly to the employee who is managing their account. Oral communication allows most misunderstandings to be resolved immediately. Oral communication could be said to be the most used form of communication. Whether it is to present some important data to your colleagues or lead a boardroom meeting, these skills are vital. In recent years verbal communication has been replaced to a great extent by a faster form of written communication and that is email.Online communications. Today consumers can complete their Tax Return, claim tax credits and do a variety of other business with the Inland Revenue directly online, thereby saving a great deal of time. An important advantage of this method is that ongoing 'help' is provided by pop-up help facilities. This is a cheap, quick and efficient means of communication.Advertising on TV and in the press e.g. to alert people to payment deadlines or to eligibility for tax credits. CSEmploy communication styles appropriate to target audienceWhen choosing a communication style, one must consider the audience and their needs. In order to get to know the audience and to communicate effectively, you must identify: what information are they seeking, how will they use this information, how much information do they need to make a purchasing decision, what is their budget, what obstacles must you overcome with the target audience. Based on this information, you can decide how much data and detail to divulge or how much emotional language and connection to establish. The participants should discuss appropriate methods for the desired audience. In general, some questions that should be considered regarding your audience are:How important will the audience see your message as being? Does your communication ask the audience to take some action? How much information does your audience need? What obstacles must you overcome with the target audience? What are the benefits to your audience of what you have to communicate? How will your audience use this information? What method of communication is best suited to this message? In addition, you should consider how formal and how detailed you wish your communication to be. Use language and terminology that are appropriate to the audience.Employ pricing strategies to determine pricesSPEmploy techniques to assess ongoing behavior (e.g., business records; manual record sheets; electronic recording devices for telephone, personal, and computer interviewing; smart cards; video recording) SUEncourage team buildingDid the student explain the benefits (i.e. increased productivity, sales, # customers, etc.) of team building?Did the student explain strategies for successful team building?Explain team building skills – Purpose – what are the shared goals?Empowerment – provide clarity and structure, establish roles, encourage accountabilityRelationships and communication – hold meetings to keep team cohesiveOptimal performance – shared accountability, performance depends on clear goals and timely feedbackRecognition and morale – recognize team’s efforts with compliments or even weekly discussions on what they are proud of accomplishingCSEnlist others in working toward a shared visionShow others the benefits of a shared vision (could be a positive work environment where employees want to go to work and enjoy being there leading to increased productivity and cohesiveness).Model behaviours from the top down so others see how it can and will work.Gather feedback and input from others about what the vision should be and how it can be achieved.Involve them in the process so they have ownership to it.Ensure equitable opportunities for employeesEnsure timely delivery of advertised merchandiseIt would be difficult to guarantee delivery of advertised product using the online wholesaler since lead times are so much greaterWe have an established relationship with the local supplier who could be more involved in any advertising that we are planning, e.g., we could consult about quantities available before planning an ad campaign. This would be more difficult with the online supplier.Since the current supplier is in the same city, we would be able to pick up or have special deliveries made if we ran out of productSPEnter product descriptions into a PoS system Establish a relationship with a customer/clientEstablish collection procedures.SPEstablish credibility with Internet users Establish personnel policiesEstablish policies/procedures for preventing internal theftParticipants’ ideas may include:Installing security camerasIncreasing supervisionUsing a Just-In-Time inventory system to avoid having excess furniture vulnerable to theft and going unnoticed in the warehouseIncreasing the frequency of inventory counts so that employees during certain periods of time can be held accountable for theftSecurity checks of employee automobiles as they leave the premises to check for stolen furnitureEstablish receiving schedulesCSEstablish relationship with customer/client SPEstablish reorder pointsA reorder point is the inventory level that triggers an order to be placed for inventoryReorder points need to be established but we will need further information: what are our sales by month, how much lead time is required to receive new ordersDepending on lead time, we might only want to carry 1.5 months’ inventory (300 general purpose, 450 special occasion) at a time; if lead time is longer, we will want to carry moreMNEstablish safety policies and procedures Establish standards for job performanceSPEvaluate adequacy of product packaging Evaluate effectiveness of advertisingSPEvaluate graphic design on packages SPEvaluate options to purchase or sell marketing data Evaluate project results (OP:159) (SP)SPEvaluate project results / successPrior to starting a project objectives need to be set in order to be able to evaluate the success of the project when complete.Evaluate stakeholder and customer satisfaction. Ask a simple question to all parties involved: Were you satisfied with the result? If not all parties are satisfied, it is a sign there were inefficiencies in the project. To help you decide what changes might be made to future projects, ask all parties involved what could have been improved to make the project successful, and make changes as necessary to future projects.Determine if the project met its business objectives. Ask end users of the project if the results meet their needs. The end user can be anyone who is utilizing the results of the project and can include outside customers. For small businesses, the end users are often the same people who worked on the project. If the project did not meet its objectives, it is usually a sign of insufficient resources or unclear objectives. For future projects, make sure objectives are understood at the outset and that the project is given sufficient resources.Evaluate end-user adoption. Reach out to the end users of the project to determine if they are utilizing the results of the project as expected. If not, ask what changes are needed to make the results useful. Determine the frequency with which they are utilizing the results. If the project is successful, you will find high-end user adoption and frequent use. If end-user adoption is low, consider including end users in the charter stage of your next project to ensure the outcome is something they will find useful.Evaluate the final delivery of the project. Some projects have excellent outcomes but create unnecessary headaches. Ask all parties involved in the project if the delivery of the final result went smoothly. Were they able to quickly implement the results, or did the results of the project leave them confused? Were the results well explained, or did they have to follow up with extra questions? If the stakeholders feel like the project was not delivered properly, define delivery objectives at the outset of future projects. This ensures the project manager continues to focus on the project throughout the delivery stage.See if the project met governance requirements. At the outset, most projects elect an advisory committee to review the project's outcome. In very small businesses, the reviewer is often an individual, such as the owner or president. Check with the project’s other advisors. Was the project adequately reviewed throughout the process? Did the project manager check in with advisors regularly? Was the review process too frequent or not frequent enough? If the reviewers believe the project was not adequately reviewed, it is time to review the project governance policy. Consider a more frequent or stricter review schedule for future projects.See if the project provided benefits to its stakeholders. Ask all parties involved, including end users, if the project has resulted in benefits for the business and its employees. Are the benefits substantial or a small improvement? What additional benefits would you like to see from future projects? Successful projects create noticeable benefits. If the project has not realized benefits, it doesn't always mean the project wasn't executed successfully. If the objectives of the project were met but benefits were not realized, carefully review the objectives of your next project to ensure they will result in noticeable benefits.Evaluate project success Prior to starting a project objectives need to be set in order to be able to evaluate the success of the project when complete.Evaluate stakeholder and customer satisfaction. Ask a simple question to all parties involved: Were you satisfied with the result? If not all parties are satisfied, it is a sign there were inefficiencies in the project. To help you decide what changes might be made to future projects, ask all parties involved what could have been improved to make the project successful, and make changes as necessary to future projects.Determine if the project met its business objectives. Ask end users of the project if the results meet their needs. The end user can be anyone who is utilizing the results of the project and can include outside customers. For small businesses, the end users are often the same people who worked on the project. If the project did not meet its objectives, it is usually a sign of insufficient resources or unclear objectives. For future projects, make sure objectives are understood at the outset and that the project is given sufficient resources.Evaluate end-user adoption. Reach out to the end users of the project to determine if they are utilizing the results of the project as expected. If not, ask what changes are needed to make the results useful. Determine the frequency with which they are utilizing the results. If the project is successful, you will find high-end user adoption and frequent use. If end-user adoption is low, consider including end users in the charter stage of your next project to ensure the outcome is something they will find useful.Evaluate the final delivery of the project. Some projects have excellent outcomes but create unnecessary headaches. Ask all parties involved in the project if the delivery of the final result went smoothly. Were they able to quickly implement the results, or did the results of the project leave them confused? Were the results well explained, or did they have to follow up with extra questions? If the stakeholders feel like the project was not delivered properly, define delivery objectives at the outset of future projects. This ensures the project manager continues to focus on the project throughout the delivery stage.See if the project met governance requirements. At the outset, most projects elect an advisory committee to review the project's outcome. In very small businesses, the reviewer is often an individual, such as the owner or president. Check with the project’s other advisors. Was the project adequately reviewed throughout the process? Did the project manager check in with advisors regularly? Was the review process too frequent or not frequent enough? If the reviewers believe the project was not adequately reviewed, it is time to review the project governance policy. Consider a more frequent or stricter review schedule for future projects.See if the project provided benefits to its stakeholders. Ask all parties involved, including end users, if the project has resulted in benefits for the business and its employees. Are the benefits substantial or a small improvement? What additional benefits would you like to see from future projects? Successful projects create noticeable benefits. If the project has not realized benefits, it doesn't always mean the project wasn't executed successfully. If the objectives of the project were met but benefits were not realized, carefully review the objectives of your next project to ensure they will result in noticeable benefits.CSEvaluate quality and source of informationNot all information is created equal. Just because you find information at the library does not guarantee that it is accurate or good research. In a business setting, being able to critically evaluate information is necessary in order to conduct quality research. Each item you find must be evaluated to determine its quality and credibility in order to best support your research. To evaluate a source consider the following:Authority - Who published the source? What is the purpose of the publication? Where does the information in the source come from? Does the information appear to be valid and well-researched, or is it questionable and unsupported by evidence. Who is the author? What are the author's credentials (educational background, past writing, experience) in this area? Have you seen the author's name cited in other sources or bibliographies? Is the content a first-hand account or is it being retold? Primary sources are the raw material of the research process; secondary sources are based on primary sources.Currency - When was the source published? Is the source current or out of date for your topic?Purpose - What is the author’s intention? Is the information fact, opinion, or propaganda? Is the author's point of view objective and impartial? Is the language free of emotion-rousing words or bias? Is the publication organized logically? Are the main points clearly presented? Do you find the text easy to read? Is the author repetitive?SPEvaluate questionnaire design (e.g., types of questions, question wording, routing, sequencing, length, layout) Evaluate safety issues needed to protect employees SPEvaluate the impact of mobile-device capabilities and usage patterns on social-media effectiveness SPEvaluate vendor performanceThe participant should consider the following when evaluating a vendor’s merchandise. Will the merchandise suit their target customer? Is the merchandise the right fit for their image and stores? Is the quality and styling of the merchandise something that works with their reputation? Costs of the merchandise - to the retailer (including shipping costs) – costs to the public Production capabilities, past experience, product quality, the availability of special buying arrangements or services that correspond to this vendor When dealing with a vendor for the first time, buyers might solicit references to determine the vendor’s reputation. Many businesses maintain resource files and journals that document past experience with vendors. Such a journal may include an evaluation of product quality, delivery performance, and customer service. Returns relating to the quality of products may cause a vendor to be dropped.Participant should address methods of determining success such as: Sales Customer satisfaction Returning customersSPEvaluate vendors' merchandise SPEvaluate vendors' services SPExecute targeted emails PQExhibit a positive attitudeIndicators of a positive attitude include the following Maintain positive body languageSmile and nod when listening to customer’s concernsAvoid crossing your arms in front of your chest – this demonstrates that you are ‘closed’ and not listening to what the customer is sayingAcknowledge the customer’s concerns and reassure them that you understand what they are saying and that you will do whatever you can to ensure that their concerns have been addressedAvoid getting angry and using negative words or tone of voiceAvoid using a demonstrative tone with the customer or becoming confrontational with themCSExhibit cultural sensitivityExhibiting cultural sensitivity may start with language lessons, but more often extends to learning the etiquette, protocol, communication styles, and negotiation approaches of various international business associates and clients.PQExhibit self-confidence Explain advertising media used in the sport/event industries. SPExplain business ethics in product/service managementBusiness ethics that relate to product/service management focus on making customers aware of product information that can affect safety and health when the product is used. Some of the general areas that the participant could identify include: Timely product recalls Alert allergy information Labeling – country of origin, contact information, contents Clear instructions on how to care for the good (if applicable)Product must work as stated in advertisements and websitesHonour privacy lawsInformation must be clearly conveyed and not be misleadingCompany must deal with complaints responsiblyAnimal testing, child labour, environmentally damagingSPExplain business ethics in sellingE.g. the salesperson must be truthful in its communications with his clients. Should he then proffer that Grenadier may not be around to honour the gift certificates? Salesperson needs to follow company policy, but is it ethical to continue selling gift certificates when there is uncertainty they can be honoured?Is the company adhering to correct business practices?Does the company have a Code of Business ethics?Have customers been informed of policy prior to purchase of a gift certificate. Is the gift certificate policy posted in the store for customers to see?Easier to keep customers than get new ones. Honesty builds trust between customers and the companyA company must ensure that none of their claims are fraudulentCSExplain career opportunities in entrepreneurship SPExplain career opportunities in marketing management CSExplain career opportunities in merchandising SPExplain characteristics of effective data-collection instruments PQExplain communication techniques that support and encourage a speakerCommunication techniques that support and encourage a speaker include both verbal and non-verbal communication. Techniques like active listening, maintaining eye contact, exhibiting positive body language, speaking clearly and in an appropriate tone are all techniques that can support and encourage a speaker. SPExplain communications channels used in public-relations activities Communication channels are the ways the team can communicate with the fans. The team will want to use the methods most likely to quickly reach the majority of fans (the target market).Participants may discuss, but are not limited to, some of the following ideas:Electronic: local television commercials, web site, webcasts, social media (Facebook, Snapchat, Instagram, Twitter, etc.), info on the website for online ticket purchasesSpeaking opportunities: local radio, pre-game interviews, blurbs on the broadcasting equipment at the game site, public forum visits (schools, malls, arenas, etc.) Print: newspaper, magazines, mailed letters, posters, info on the box office CSExplain company selling policies Each store has policies about delivery policy, price matching, returns, substitutes, reimbursementsLayaway policy offered to customers. Not common practice to extend layaway dates, policy is if date has passed, merchandise is returned to the sales floor. Store policy is if layaway merchandise is not picked up by the date, monies left on deposit are put towards a store credit and not returned to the customer as cash. Explain components of advertisementsText, image and the organization of the elementsStudent should explain that advertisements should be appealing, clear and conciseDifferent mediums of advertisements require different focusesDifferent mediums of advertisements are: print, radio, television, direct mail, internetExplain consequences of unprofessional and/or unethical behavior in marketing SPExplain considerations affecting global promotion SPExplain considerations in developing viral marketing campaigns SPExplain considerations used to evaluate whether to participate in trade shows/expositions SPExplain cultural considerations that impact global business relations SPExplain current issues/trends in public relations SPExplain current retail trends driven by global trade Explain customer/client/business buying behavior Buying Behavior is the decision processes and acts of people involved in buying products/services. Businesses need to understand:Why consumers make the purchases that they make?What factors influence consumer purchases?The changing factors in our society.There are 3 main categories of factors that influence buying behaviour:Personal: demographics factors such as gender, race, and agePsychological: motives, perceptions, ability and knowledge, attitudes, personality, lifestylesSocial: opinion leaders, roles and family influences, reference groups, social class, culture and sub-culturesThere are 4 types of buying behavior that vary in degree of the customer’s involvement in the process:Routine Response/Programmed Behavior – buying low involvement frequently purchased low cost items; need very little search and decision effort; purchased almost automatically. Examples include soft drinks, snack foods, milk etc.Limited Decision Making – buying products occasionally. When you need to obtain information about an unfamiliar brand in a familiar product category, perhaps. Requires a moderate amount of time for information gathering. Examples include clothes.Extensive Decision Making/Complex – high involvement, unfamiliar, expensive and/or infrequently bought products. High degree of economic/performance/psychological risk. Examples include cars, homes, computers, education. Impulse buying – no conscious planning.SPExplain distribution issues and trendsOnline purchasing is definitely increasing by both consumers and businessesBy purchasing online, people have access to more variety, quality levels and price competitive productsOur customers also have online purchasing as a floral needs optionExplain effective follow-up strategies for use in sellingExplain elements of the sport/event productSPExplain employee's role in expense control CSExplain employment opportunities in business Employment opportunities may be based on the duration of employment (temporary v. permanent), the type of employment (employee v. contract), the number of hours worked weekly (part-time v. full time) as well as the method of compensation (paid wages v. paid salary v. internship v. volunteer v. job shadowing).There are both private and public sectors, and many types of business – retail, wholesale, manufacturing, service. CSExplain employment opportunities in marketing SPExplain employment opportunities in professional selling Explain environmental factors conducive to customer satisfactionUnderstanding the customer is most important – their perception is linked to the expectations they have when they come to a place of businessThe environment is then crucial to how customers will ultimately respond – if the atmosphere is not conducive to their satisfaction they will not be likely to value the serviceEnvironment will certainly influence the type of service that customers expect – if the reorganization of Book N’ More creates a high end store, then customer will expect high end serviceStudents may identify the type of atmosphere that their target market will requirei.e. food service will require fast service in an area set to house those who may read, work, and drink a fancy coffee customer at a kiosk may need a quick response from the floor staff to ensure that they are okay navigating the store on their own – a larger store will require floor staff to be readily availableSPExplain ethical considerations in providing information. Information ethics has been defined as "the branch of ethics that focuses on the relationship between the creation, organization, dissemination, and use of information, and the ethical standards and moral codes governing human conduct in society". It provides a critical framework for considering moral issues concerning informational privacy, moral agency, new environmental issues problems arising from the life-cycle (creation, collection, recording, distribution, processing, etc.) of information (especially ownership and copyright, digital divide, and digital rights). Dilemmas regarding the life of information are becoming increasingly important in a society that is defined as "the information society". Information transmission and literacy are essential concerns in establishing an ethical foundation that promotes fair, equitable, and responsible practices. Information ethics broadly examines issues related to ownership, access, privacy, security, and community.Explain factors affecting a business’s profitSPExplain factors affecting pricing decisionsFactors affecting a company’s pricing decisions include any or all of the following:Price-quality relationship: Customers use price as an indicator of quality. When quality does not change customers will not expect a pricing change.Explicability: The company should be able to justify the price it is charging, especially if it is on the higher side. An increased price may alienate customers who were attracted to the low petition: A company should be able to anticipate reactions of competitors to its pricing policies and moves. Competitors can negate the advantages that a company might be hoping to make with its pricing policies. A company reduces its price to gain market share. Every company should research what its competitors are charging and have their prices strategically placed the market place.The costs must be recovered. The profit must adequately exceed costs.Market Demand will determine how much can be charged. Both higher demand and lower supply will result in a higher petition also affects the price that can be charged. The more competition there is, the lower the price (in general).Your business strategy and image will affect your price. The more elite or rare your product is, the higher the price.Product Uniqueness and Improved Value can also substantiate a higher price. Loyalty may affect price. Some companies will lower prices to loyal members to keep their business, while others may raise prices knowing that their customers will buy regardless of the price.Explain factors affecting the extension of credit.SPExplain factors affecting the growth and development of the marketing communications industry SPExplain factors that influence customer/client/business buying behaviourBuying Behavior is the decision processes and acts of people involved in buying products/services. Businesses need to understand:Why consumers make the purchases that they make?What factors influence consumer purchases?The changing factors in our society.There are 3 main categories of factors that influence buying behaviour:Personal: demographics factors such as gender, race, and agePsychological: motives, perceptions, ability and knowledge, attitudes, personality, lifestylesSocial: opinion leaders, roles and family influences, reference groups, social class, culture and sub-culturesThere are 4 types of buying behavior that vary in degree of the customer’s involvement in the process:Routine Response/Programmed Behavior – buying low involvement frequently purchased low cost items; need very little search and decision effort; purchased almost automatically. Examples include soft drinks, snack foods, milk etc.Limited Decision Making – buying products occasionally. When you need to obtain information about an unfamiliar brand in a familiar product category, perhaps. Requires a moderate amount of time for information gathering. Examples include clothes.Extensive Decision Making/Complex – high involvement, unfamiliar, expensive and/or infrequently bought products. High degree of economic/performance/psychological risk. Examples include cars, homes, computers, education. Impulse buying – no conscious planningPQExplain forms of financial exchange (cash, credit, debit, electronic funds transfer, etc.) Credit enables a business or individual to purchase goods and services in exchange for a promise to pay later. It is most helpful when consumers want to make major purchases, though it is often used for more common, less expensive items. Customers typically use a credit card to make such purchases. Businesses may have credit cards for their managers, but typically, businesses negotiate credit terms for ongoing purchases, like n/30 (net amount due in 30 days).Consumers using a debit card authorize a seller to withdraw funds directly from the consumer’s bank account at the time of sale. Businesses make direct payments by electronic transfer (online or through their bank).A cash sale is any transaction in which the customer pays for the item with cash or a cheque. Other forms of retail sales transactions include: Layaway means removing merchandise from stock and keeping it in a separate storage area until the customer pays. In an on-approval sale, an agreement is made permitting a customer to take merchandise home for further consideration before paying. A COD sale is a transaction that occurs when a customer pays for goods at the time they are delivered.PQExplain forms of financial exchange (cash, credit, debit, electronic funds transfer, etc.) Explain how a battery loses power and needs replacingSPExplain how businesses can use trade-show/exposition participation to communicate with targeted audiencestrade shows are a form of promotionused to communicate with current and potential customersgeared to attract people with a defined set of interests allow potential customers to see and touch products, get information, and compare products from a variety of companiespresent an excellent opportunity for businesses to attract potential customers who may not have otherwise been aware of your productpresent an excellent opportunity to introduce new products to a receptive audiencepresent an excellent opportunity to build a database of potential customers, that can be used for further marketing effortsSPExplain how digital communications (e.g., email, text messages, chats) exposes business to risk With digital information, there is risk of unauthorized leaking of confidential information regarding customers, employees, company finances, and intellectual assets, as well as the company’s reputationWith social media, companies have little or no control of what the public says about them, or who sees the social media content. The heightened level of vulnerability and exposure created by e-business necessitates a brand new level of digital risk sensitivity directed by a hyper-aware board and senior management and permeate throughout the extended organization. Perhaps the greatest risk of all in the e-business world is the harm to reputation and the catastrophic, unlimited financial consequences that could stem from liability claims by damaged stakeholders (customers, suppliers, shareholders, etc). As the Internet continues to evolve as a business tool, stakeholder accountability will be the prime motivator. Explain how organizations adapt to today’s marketsThe key to being able to successfully compete and grow lies in flexibility--adapting your strategy to changing business conditions. Regardless of your industry, the marketplace changes all the time and you cannot afford to stick to the same plan from which your business grew. You may be forced to change your marketing strategy due to the entrance of a new competitor into the market. New gadgets and software are churned out almost constantly. A business plan may need to change to keep up with innovation. Changes in government regulations can significantly impact the way your company does business. From safety and environmental procedures to quality control measures, businesses have to implement several policies to be in compliance and, though these are usually for the benefit of the consumer, they often incur an extra cost to the proprietor of the business. Attaining growth and streamlining operations for increased efficiency may require a radical game plan change. Lean production and management as a way to cut waste may require an overhaul of the production process. Things to consider to adapt effectively:Analyze the current market situation:?While performing a market analysis, evaluate what changes have occurred and how they interfere with your overall mission. Identify what other competing products manufacturers have released. Consider the needs of your customers and appreciate how they have changed over time. Conduct research online or in major stores distributing your products to gain insight into what resonates with the customer.Obtain the requisite skills:?If adaptation requires certain skills, build them before your competitors do so that you are better placed to serve the customer. Attend seminars, buy books, or look for resources online to help you build the skills needed. Rebrand:?Branding is arguably one of the most effective methods to update and change your business, and may increase users' perceived value of your existing product or service and rejuvenate growth. Determine whether the new branding scheme for your products or service will appeal more to your target audience, better represent the personality of your target group, and increase your credibility with the marketSatisfy your customers' needs:?Understand your market and provide the most reliable, cost-effective, high-quality products or services possible. Listen to feedback from your customers and make the necessary changes in order to retain them. Let the customers feel that they can depend on your business and its products.?SPExplain how organizations adapt to today's markets Explain how supermarkets and other organizations cooperate to provide customer services.Explain how the functions of display and promotion are coordinated to obtain maximum resultsExplain how to clean service and work areasSPExplain how to effectively incorporate video into multimedia CSExplain information privacy, security, and confidentiality considerations in business Businesses must protect their information from parties outside the business (hackers, infiltrators) and also protect their information from inappropriately leaving the business (employee carelessness and theft).Control the flow of electronic data by using firewalls, virus protection, passwords, encryption, frequent backups, IP security for data in transit, secure wireless transmissions, limit the rights of recipients to copy/resend.All the company’s financial information must be secured and not breached. This includes amounts of money as well as lists of people (customers, payables, shareholders) and things (assets, bank accounts, assets).Research shows a strong correlation between trust and willingness to participate in other financial services.SPExplain key factors in building a clienteleA steady clientele for a business takes time to build. It takes a strong desire to succeed, coupled with best practices to build and maintain the customer base upon which your company thrives. A strong clientele can be built by:Discuss with the client what they need Make a list of clients and contact them frequently Make it your business to know the client’s business (or individual needs/wants)Get feedback from clients on how you well you are meeting their needs/wantsStrive for consistencyOffer rewards for continued business so the client has an incentive to keep working with youStudents need to demonstrate an understanding of why customers will patronize a business; i.e., what can the business do to continue attracting and keeping customers. It will not be enough to advertise to attract new customers, it is also necessary to satisfy them in order to keep them coming back frequently. Consumers have a choice as to where to spend their money and they will generally do so in a place they enjoy.SPExplain legal and ethical considerations in selling These responsibilities are particularly important in personal selling because salespeople may face conflicts between their personal standards and the standards of their firms and customers. However, the evolution of selling has raised ethical standards and expectations; building long-term relationships with customers doesn't allow for unethical behavior.Salespeople's ethical standards determine how they conduct relationships with their customers, employers, and competitors. Ethical issues in relations with customers involve the use of entertainment and gifts and the disclosure of confidential information. Ethical issues in relations with employers involve expenses and job changes. Finally, salespeople must be careful in how they talk about competitors and treat competitive products.Many companies have ethical standards that describe the behavior expected of their salespeople. In evaluating potential employers, salespeople should consider these standards.Salespeople also encounter many situations not covered by company statements and therefore must develop personal standards of right and wrong. Without personal standards, salespeople will lose their self-respect and the respect of their company and customers. Good ethics are good business. Over the long run, salespeople with a strong sense of ethics will be more successful than salespeople who compromise their own and society's ethics for short-term gain.Statutory laws (such as the Uniform Commercial Code) and administrative laws (such as Federal Trade Commission rulings) guide the activities of salespeople in the United States. Selling in international markets is complex because of cultural differences in ethical judgments and laws that relate to sales activities in various countries.SPExplain legal considerations for accounting SPExplain legal considerations for finance There are laws associated with all Balance Sheet items in a business. Examples include: agents, assignments of accounts receivable, bankruptcy, bonds and indentures, commercial paper, common stock, conditional sales contracts, consolidation, contracts, corporations, cumulative voting, directors and officers of corporations, dividends, documents of title, leases, marshalling of assets, mergers, mortgages, non-voting stock, no par stock, options, partnerships, payroll, preferred stock, promoters, proxies, sales, stockholders, voting and voting trusts, and warranties. Businesses must follow municipal, provincial, federal and international laws when conducting business.SPExplain legal considerations for pricingThe essence of pricing legalities is to prevent eliminating the competitionThere are many unethical and illegal pricing practicesPrice Gouging – when a price is set higher than it normally is to take advantage of a sudden increase in demand or shortage of supply.Price Fixing – the agreement between two or more companies to buy or sell a good or service at a fixed price.Price Discrimination – the strategy of selling the same product at different prices to different groups of consumers usually based on the maximum they are willing to pay.SPExplain legal considerations in channel management SPExplain legal considerations in distribution SPExplain legal issues associated with information management CSExplain legal responsibilities associated with financial exchangesCustomers are responsible for all transactions they enter into – including online transactions where they provide credit card or other financial dataBank responsible for fraudulent credit card transactions if credit card agreement offersBank responsible for transactions which occur after a debit or credit card has been reported lost or stolenBanks responsible for transactions which occur if a device is placed on a debit or credit card machine which copies customer dataBanks responsible for transactions which occur if bank system is hacked intoSales are legal contracts where goods are transferred from the seller to the buyer for a price. Payment occurs with the buyer delivers the agreed price and the seller accepts it. The receipt of goods is when the buyer takes physical possession of the goods. When an item is sold and the buyer pays, or promises to pay using credit, it becomes a legal transaction and the buyer is legally contracted to pay the agreed amount within the agreed time frame. Extending credit, usually involves filling out paperwork and receiving approval to ensure that the (potential) buyer will be able to pay the indicated amount within the time given. Explain management’s role in the achievement of qualityCSExplain marketing and its impact in a global economyParticipants should describe marketing as the function of business used to communicate messages from a company to existing and potential customers around the worldWell thought-out marketing strategies are needed to effectively reach a company’s full market potential In a global economy, a business’s marketing must reach beyond national borders and messages need to take into consideration additional factors such as: socio-cultural environments of different nations, language and contextual differences, acceptable marketing strategies and content, etc.Without global marketing strategies, potential customers in other countries will not be aware of your company, brand, or product/service offering.Explain marketing and its importanceCSExplain marketing and its importance in a global economy Explain measures used to analyze economic conditionsSPExplain mobile marketing applications SPExplain new product-development processes.Following is a 7-step process. Different versions exist with more or less steps. Companies will generally adapt their own version of the process.Step 1 – Idea GenerationGather ideas to be evaluated as potential product options.Many market research techniques are used to encourage ideas including: running focus groups with consumers, channel members, and the company’s sales force; encouraging customer comments and suggestions via toll-free telephone numbers and website forms; and gaining insight on competitive product developments through secondary data sources.New product ideas may come from brainstorming, responding to some observed need or even by chance.Step 2 – ScreeningCritically evaluate ideas generated by step 1Ideally, screen products based on an established set of evaluation criteriaSelect the most attractive optionsStep 3 – Concept Development and TestingObtain feedback from customers, distributors, employees on selected ideasMarket research may be done with focus groups, based on concepts of a product, story boards, or non-functioning “mock-ups” of the product.Step 4 – Business AnalysisAnalyse the likely success and viability of the new idea.Analysis may include - target market size, operational costs, financial projections.Step 5 – Product and Marketing Mix DevelopmentBegin working on actual product designBegin formulating a marketing plan and addressing other elements of marketing mix (pricing, promotion, place / distribution)Step 6 – Test MarketingTest the actual product.May include offering product to a selected small segment of the target market (Windsor and London are often selected as test markets for large companies)Step 7 – CommercializationIntroduce product to wider marketMay be done in waves or all at onceCSExplain policies/procedures for handling shoplifters PQExplain possible advancement patterns for jobsAdvancement for jobs is typically linear. As you gain experience, acquire new skills, and develop your knowledge of a specific subject area in an organization, you increasingly become more qualified and capable of the job responsibilities of your supervisor. This pattern continues and as you take advantage of professional development opportunities you may be promoted up the corporate ladder. Sometimes, a lateral move is possible in which you apply your skill set in a different department working with a different team. Explain procedures for dealing with workplace threatsCSExplain procedures for handling accidentsHire staff with the proper qualifications—first aid, CPR, customer service certifications, alcohol handlingStaff need to be thoroughly trained to handle accidentsCreate a procedures manual to teach staff how to deal with a variety of risk situationsTrain the staff on the manualWhen an accident has occurred, help the customer, contact the manager, solicit whatever help is necessary—ambulance, follow up to make sure the customer is fine, fill out an accident report, discover what can be done to make certain that this type of accident does not occur again.According to the WSIB (Workplace Safety Insurance Board):Get first aidInform employer and ensure payment for transportation and immediate medical carePay workers wages for the day of the injury Report injury to the WSIBAn ‘exceeds expectations’ answer will include preventative measuresThis needs American terminology as wellCSExplain procedures for handling robbery situations Explain promotional methods in food marketingDid the participant discuss the importance of food sampling in food marketing?Did the participant provide a promotional theme/campaign that complements the company values?Has the participant identified a target market for the company?Did the participant provide a comprehensive plan to promote the company to both new and current customers?CSExplain reasons for ethical dilemmasThe nature of ethical dilemmas is that the ‘‘right thing to do’’ is not immediately or even eventually clear. These dilemmas are problems because their resolution is neither simple nor easy and they must be confronted under time pressures as well as conflicting financial and political demands. Often the ‘‘right answer’’ comes with a price tag. Moreover, in many instances, the crucial factors underlying the dilemma are not immediately obvious. So, how can individuals better resolve these dilemmas and reduce their chance of making a mistake that they will later regret? As in many areas of life, we often fail in ethics, not because we don’t know the right answer, but rather fail to ask the right questions. To tackle ethical dilemmas and avoid making ethical mistakes, executives, managers, and professionals can use the following five questions, which, while they will not guarantee making the right decision, can help prevent making the wrong one. They are:What are my self-interests in this situation and how might they influence me? Self-interests are a natural part of human nature. They are neither necessarily good nor bad but should be acknowledged so as to prevent you from doing something unethical.What are the interests of others and the larger society and to what extent should I take them into consideration? What would lead to the greatest good for the greatest number and to what extent should that be my predominant criterion in this situation?What principles and values, laws and regulations, policies and procedures, or socially appropriate behaviors do I need to consider? Are the relevant principles or processes more important than outcomes? Am I willing to apply those same principles to myself regardless of the personal consequences?In my job or role, my personal or professional relationships, or as a member of the larger society, what are my obligations to others? How should the principle of reciprocity apply? Are my obligations sufficiently important that I would be willing to sacrifice my self-interest, a fundamental principle or the greater good?What is in my long-term best interest and that of society in general, and how can I simultaneously meet both those commitments? Where do my long-term interests and those of others intersect, and is there a decision or action that might satisfy both?The challenge, having asked these five questions and considered their implications, is to understand and minimize any inherent conflicts among the values and obligations that they underscore. This can be addressed by focusing on three criteria for resolving such value conflicts primacy, balance and acceptance. Primacy asks, ‘‘Which questions are most relevant to the values that are important to you and your organization in this situation?’’ Balance encourages seeking the best tradeoff if you must compromise among values. Acceptance asks, ‘‘How well will your decision and its underlying rationale likely hold up under public scrutiny?’’SPExplain regulations impacting digital marketing Explain routine safety precautionsThe staff needs to do regular safety drills to practice the business’s safety procedures. These could include fire drills, first aid and how to handle a slip-and-fall accidentQuick access to emergency procedures should be available. This could include signs explaining procedures, an emergency manual available, a staff member with first aid training always in the building, and a manager presentCSExplain routine security precautions Routine security precautions will be to (1) ensure the safety of the staff and (2) ensure the security of the business and its inventory. Staff must be reminded that safety is their?personal responsibility. To avoid loss-time accidents and repercussions for themselves and the business, they should:Always follow the correct procedures.Never take shortcuts.Take responsibility?and clean up if you made a mess.Clean and organize?your workspace.Ensure a clear and easy route?to emergency exits and equipment.Be alert and awake?on the job.Be attentive?at all times to your work surroundings.When in doubt,?contact your supervisor or manager for instruction, guidance, or training.Never take risks?when it comes to safety.Obey?safety signs, stickers, and tags.Take short breaksYour retail business takes precautions to protect the store and its contents. But accidents, oversights, and thefts are all-too-common in the retail industry, which means even the most comprehensive line of defense may still leave your business exposed to risk. Explain routine security proceduresSPExplain sampling techniques for probability and non-probability samples SPExplain security considerations in marketing communications SPExplain security considerations in marketing management SPExplain security considerations in marketing research Explain security considerations in retail food marketing businesses. CSExplain shipping processes CSExplain stock-handling techniques used in receiving deliveries The process of handling stock for deliveries is usually simple. The restaurant will prepare an order of items it wants from a supplier. The supplier will send the shipment on a truck along with either an itemized delivery slip or an invoice for whatever is being delivered. When the items are being moved from the truck to where they are being stored, someone from the store should be verifying the proper quantity and quality of items is being received. Once this is done, the paperwork for the delivery should be signed by both driver and receiver, and each will keep a copy for their records. The store owner, manager, or accountant, whoever is in charge of paying the bills, should compare all records to ensure they balance. It is important to realize that dishonest people do exist, and in our case, it could be a driver, one of our employees, a manager, or even our bookkeeper. The owner should always be prepared to watch his own business and money and eliminate situations where temptation might be acted on. CSExplain storing considerations SPExplain techniques for processing marketing data SPExplain the benefits of supply chain collaboration SPExplain the capabilities of tools used in web-site creation Explain the communication process used in promotionSPExplain the components of advertisementsStudents should reference the major components of ads – the body or copy (the main message which is written if print), the tag line (slogan or short phrase associated with the product), the artwork (graphics and colour), the titles (including the main headline) and the contact (which includes branding – logo- and URLs, phone #s, etc.). Students should provide an answer that is descriptive of all of these components.SPExplain the concept of “product” in marketing communications CSExplain the concept of accountingAccounting is defined as the art of recording, classifying, and summarizing in terms of money, transactions and events which are financial in natureBank reconciliation is the process of comparing and matching figures from the accounting records against those shown on a bank statementAccounting concepts that would be applicable to a bank reconciliation include:Going Concern – where accountants assume that the company is not going brokeConsistency – valuation methods are treated the same way from month to month, allowing users to make more meaningful comparisons of financial informationMatching – journal entries resulting from “outstanding” bank items should be matched with the income earned for a specific accounting periodParticipants should be able to identify and explain accounting fundamentals as they apply to this situation. The participant’s address may include:Accounting involves the careful and accurate recording of the transactions of a business.These records are used to formulate financial statements that represent the financial position of the business.Accounts payable handles invoices charged to the company on orders madeCSExplain the concept of competitionCompetition?is the rivalry between companies selling similar products and services with the goal of achieving revenue, profit, and market-share growth. In any industry it is important that companies distinguish themselves from competition by promoting their competitive advantage – how/what makes the company better than competitors. This ultimately gives consumers a reason to choose one competitor over another and drives sales. Competition benefits consumers by helping to maintain reasonable prices, providing new and improved products, and providing a wide selection of products from which to choose. It forces businesses to operate efficiently. Competitors can be direct (the same products are offered) and indirect (different kind of product that can satisfy the consumer’s need).CSExplain the concept of economic resourcesEconomic resources are defined as the means through which goods and services are made available to consumersAnother term for economic resources are factors of productionThe three types of economic resources are natural resources, human resources, and capital resourcesNatural resources are those raw materials we get from the earth, water, and airHuman resources are the people who work to produce the goods and services; also known as the workforce or labour, and includes both the physical and mental work performedCapital resources are man-made resources such as buildings, equipment and money that is used to produce goods and servicesThe proposed new convention centre will utilize both the city’s human and capital resources in a productive mannerTo not utilize these available economic resources would stifle continued economic development, a commitment and vision the city has already embarked uponSPExplain the concept of Gross Domestic Product (GDP) CSExplain the concept of leadershipSomeone they respectSomeone who has a vision and is able to execute strategy to achieve that visionTrusted by and has the confidence of subordinatesCommunicates effectively – helps employees understand company’s business strategy, understand how they can contribute to the success of the organization, share information with employees on how the organization and division is doingOrganizes groups of people to achieve a common goal.Leadership styles differ among various individuals.Is able to motivate others to work together while following goals/instructions.Good leaders increase productivity of companies as well as creativity and overall effectiveness.CSExplain the concept of management CSExplain the concept of market and market identification The market is the group of customers a company is most likely to try to sell to. The total market would be all of the potential customers the company could reach. This total market would be divided into several smaller groups (market segmentation) based on demographic factors like income, occupation, age, etc. and psychographic factors like attitudes, pet ownership, and lifestyles and geographic factors such as where the customer’s homes are. The company would then study each segment to determine which group or groups they would like to focus their efforts on selling to (target market). These decisions will be based on how easy it will be to reach or satisfy certain customers or how easy it will be to make sales to them.Student competitors should identify some of the characteristics of Millennials and Generation Z. (A brief list of Generation X and Baby Boomers is provided in case the student competitor compares generational characteristics.)Millennials (20-30):Highly educatedTech savvyCivic orientedGlobal citizensEntrepreneurialPragmatic, idealistic, CompassionateProgressive, liberalResults orientedGeneration Z (under 20):Consume more media than ever before Globally orientedLooking for cool products over cool experiencesEntrepreneurialTech savvyPassionate employees who want to co-create culturePeople-oriented, not profit-orientedRespond to edgy, visual marketing tacticsGen Y & Baby Boomers (50-70)Strong work ethicSelf-assuredIndependent and self-reliantCompetitiveGoal-centricResourcefulMentally focusedTeam orientedDisciplinedExplain the concept of market and market identificationThe market would be all of the potential customers the company could reach.The market identification is the specific group of customers a company will target and sell to.Markets are divided into several smaller groups (market segmentation) based on demographic factors like income, occupation, age, etc. and psychographic factors like attitudes and lifestyles, and, geographic factors such as urban vs rural, which countries, specific/regional locations. A company studies each segment to determine on which group or groups they would like to focus their sales efforts (target market).CS5105400169545Explain the concept of marketing strategiesAn organization's overall marketing strategy combines all of its marketing goals into one comprehensive plan to achieve the desired goal. A good marketing strategy should be drawn from market research and focus on the right product mix in order to achieve the maximum profit potential and sustain the business. The marketing strategy is an explanation of the goals you need to achieve with the marketing efforts. A marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. The overall marketing strategy identifies where the business wants itself placed within the market, and the marketing plan consists of the techniques, and methods to get the business there. Marketing strategies can also refer to the specific techniques and methods used to reach the overall goals; some examples are:relational marketing (building loyalty)transactional marketing (increasing the number of transactions by offering sales, coupons, etc.)word of mouth marketing, cause marketing (corporate charity)scarcity marketing (limited quantities)viral marketing (use of social media) Marketing strategies are the chosen mix of short-term and long-term marketing activities coordinated to achieve the goals of the business. The strategies used vary depending on the stage of the product life cycle, nature of competition, and availability of resources to commit to marketing efforts.Explain the concept of merchandisingSPExplain the concept of organized labor and business Explain the concept of price in services marketingCSExplain the concept of private enterprisePrivate enterprises are organizations owned and operated by individuals and not on behalf of government institutions.SPExplain the concept of product mixThe product mix includes all the product lines a company sells. A product line is a group of products sold that have some kind of similarity. Additions or modifications to a company’s product mix require research and development to ensure the proposed changes appeal to existing or prospective market segments. There are 4 dimensions to a company’s product mix: Width (the number of product lines sold); Length (the total number of products in the product mix); Depth (the total number of variations of a product like size, flavor, colour, or other distinguishing characteristic); and, Consistency (how closely related product lines are to each other in terms of how they are produced and distributed). Small companies typically start out with a product mix limited in width, length, and depth, but high in consistency. Over time, the company may want to he company may want to differentiate products or acquire new ones to enter new markets. A company can also sell the existing products to new markets by coming up with new uses for their product. CSExplain the concept of productionThe participant should recognize some of the following characteristics of production:Identify the job/task Identify the resources or data required to transform resources into goods and services The logistics of getting the job/task done efficiently, correctly, and safelyImpact of job/task on customer satisfaction/experienceSuccessful production focuses on achieving high production?efficiency, low costs, and mass distribution.CSExplain the concept of productivity A measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs. Productivity is computed by dividing average output per period by the total costs incurred or resources (capital, energy, material, personnel) consumed in that period.Explain the concept of promotional mixPQExplain the concept of self esteem Explain the concept of staff motivationCSExplain the concept of supply chain Explain the concept of the product mixthe variety of product lines that a company produces, or that a retailer stocksproduct mix usually refers to the length (the number of products in the product line), breadth (the number of product lines that a company offers), depth (the different varieties of product in the product line), and consistency (the relationship between products in their final destination) of product linesproduct mix is sometimes called product assortment.Explain the concepts of supply and demandSPExplain the economic impact of interest-rate fluctuations Explain the economic impact of travel and tourism on a community or an areaThe impact from travel and tourism on a community and its economy is significantHotels are booked, restaurants are busy, sports and entertainment venues are filled, and retail sales will increase, if people are visiting with major conventions and conferences being held in the cityThis, in turn, keeps citizens working and creates civic prideSuch an economic impact will continue with the attraction of new businesses and more industries desiring to locate in a booming cityExplain the effect of international trade on the food marketing industryfood bans – i.e. mad cow diseases Food inspection/standards – different for each countryExplain the employee’s role in expense controlParticipants’ should begin with an explanation of the importance of expense control as it relates to this case. Points may include:If employees are trained on safety precautions and procedures and feel that they are supported with a safe work environment, there will be less personal injuries, more awareness of their surroundings and therefore less damage to inventory.Less injuries leads to less employee absenteeism and a salary expense that is reflective of a productive workforce.Less damage to inventory leads to controlled expense of damaged inventory.It is the company’s job to train these employees, and it is the employees’ responsibility to use the skills and know-how to help control such expensesCSExplain the evolution of retailing Explain the factors in pricing decisionsThe student should evaluate the pricing strategies provided in the case.Strategy 1:Maintains current quality imagePrestige pricing or skimming—a higher price than competitors to enforce the quality imageSustainable over timeStrategy 2:Trying to fool the consumer into thinking the price and product are unchangedCould lead to angry customersForm of competitive pricing—making it easier to look competitive against other paper companiesCan only be used a certain number of times—there are only so many times the business can decrease the number of sheets in a rollStrategy 3:Volume pricing—this is a better deal than the others, the company hopes to make money by selling more at the same priceMay negatively impact the quality imageRiskyOther pricing considerations:Psychological pricing—ending the price in a 9, example $4.99Discount pricing—the company may provide a discount if the consumer orders more product or pays earlier.Explain the factors used by marketers to position products/businessesExplain the function of a batterySPExplain the impact of a country's economic development on world trade Explain the impact of a country's economic development on world trade (EC:116) (SP) SPExplain the impact of business customs and practices on global trade SPExplain the impact of color harmonies on composition SPExplain the impact of digital techniques on public relations practices SPExplain the impact of geography on world trade SPExplain the impact of major trade alliances on business activities SPExplain the impact of political relationships within an organizationImportance of the social network/informal communicationPower – formal/position power versus informal/social powerRelationships outside formal chain of command – contactsNetworking – ability to get job done in different waysSPExplain the impact of political relationships within an organization Explain the impact of product life cycles on marketing decisionsSPExplain the impact of sales and buying cycles SPExplain the impact of the law of diminishing returns SPExplain the impact of the purchasing process on productivity Explain the importance of an effective loss prevention programExplain the importance of business creditSPExplain the importance of company involvement in community activitiesParticipants should indicate that effective businesses need to be active participants in their communities. Although the primary aim of community relations work is to promote civic pride and to help the local residents, these events also help create goodwill for their business participants. Customers and the general public pay attention to the sponsors of community-wide activities.Participant may discuss, but are not limited to, some of the following ideas:Promotion of company’s civic consciousness and empathy Support for company’s workers living in the community Strategic positioning and promotionSPExplain the importance of coordinating elements in advertisementsStudents should mention that advertisements need to be carefully planned so that the target audience is made aware of the product or event in enough time to ask questions and ultimately act to purchase. Elements can be staggered in terms of timing and simultaneous. Either method can be effective as long the ads adhere to effective communication guidelines CSExplain the importance of merchandising to retailers. The first important step in retail merchandising is establishing working relationships with manufacturers who will provide the goods or services that are ultimately sold by the retailer. This type of retail buying involves determining what products will be carried in the retail establishment, negotiating the unit price that will be charged by the manufacturer, and arranging for the delivery of those goods. Depending on the number of units the retailer can afford to purchase at a given time, it may be relatively easy to obtain a discounted unit price, making it easier for the retailer to be competitive in the local marketplace.Explain the influence of economic/ demographic/ social/ political/ geographic/ psychological factors on buying productsExplain the key factors in building a clienteleA steady clientele for a business takes time to build. It takes a strong desire to succeed, coupled with best practices to build and maintain the customer base upon which your company thrives. A strong clientele can be built by:Research, analyze and understand your customers, their motivations, their wants and needsReach new customers where they are, when they’ll want the information, and how they will most likely hear the advertisingRetain and maintain current key clients - contact them frequently Make it your business to know the client’s business (or individual needs/wants)Get feedback from clients on how you well you are meeting their needs/wantsStrive for consistencyOffer rewards for continued business so the client has an incentive to keep working with you and/or bring in new customersEncourage word-of-mouth advertisingStudents need to demonstrate an understanding of why customers will patronize a business; i.e., what can the business do to continue attracting and keeping customers. It will not be enough to advertise to attract new customers, it is also necessary to satisfy them in order to keep them coming back frequently. Consumers have a choice as to where to spend their money and they will generally do so in a place they enjoy.SPExplain the marketing-communications development process Explain the nature and purpose of the product/service management functionCSExplain the nature and scope of channel managementChannel Management is how a business uses marketing and sales techniques to reach their customer base. Channel management organizes all possible ways to communicate with customers. Organizations must consider their target markets in terms of their preferred methods of communication while trying to reach their goals of gaining and maintaining customers. Regardless of the channels chosen, the messages must always be consistent with the organization’s branding and position. The Management of the channel refers to the ability of a business to operate all of its sales methods effectively. The scope of these Channels of Distribution could include direct from manufacturer, retail, wholesale, import, or specialty channel (internet, home shopping, catalogue, vending machine, etc.). When done properly, effective channel management allows a business to deliver products successfully and a manner of its choosing to customers thus strengthening the relationship between the business and its customers.Types of communication channels include but are not limited to: social media, print advertising, corporate website, online advertising, telemarketing, email marketing, webcasts, tradeshows, direct mail promotions, white papers, and face-to-face events, on-line video streams, mail office try-on centres. CSExplain the nature and scope of distribution Explain the nature and scope of effective communicationsExplain the nature and scope of financingExplain the nature and scope of product/service managementCSExplain the nature and scope of purchasingThe purchasing function of a business ensures that all production materials or inventory items are available for use when needed. Effective purchasing must be cost effective and efficient and take into account the quality of raw materials, where they are coming from, and what future costs are expected to be (will raw materials increase in price over time, will there be a shortage of raw materials due to external factors, etc.). Purchases must stick to a budget communicate effectively with the accounting/finance department.Explain the nature and scope of risk managementSPExplain the nature and scope of the marketing information management function SPExplain the nature and scope of the pricing functionPricing involves placing a monetary value on a product or service based on tangible things like adequately covering costs, and intangible things such as company image and the product’s or service’s perceived value. The function of pricing involves the strategies used to set prices of products, pricing computations such as discounts and markups, and the overall relationship between pricing and the company’s profitability. The pricing function looks at costs, competition, and how much customers are willing to pay for a good or service. Participants should be able to identify and explain factors affecting pricing in this situation. The participant’s answer may include (but is not limited to):Cover overhead costs (building costs like rent and utilities, advertising, office expenses and employee costs) Must cover costs, be competitive, and offer a profitReflects the market value of visiting the locationThe location’s image must correspond with the price Pricing is an integral part of the 4P’s of marketingCustomer loyalty can be built in to the pricing structureThe student competitor should some mention of the above information and how it relates to the pricing in the case.SPExplain the nature and scope of the product/service management function Service manager is responsible to:Make sales and maximize profit marginsRespond to customer requestsProvide customers with best service possibleDetermine products needed for customersResponsible to manage the other staffReport to the owner Make decisions based on products, pricing, distribution and promotionsCSExplain the nature and scope of the selling functionParticipants should identify that the selling function provides consumers with the products or services that they want or need. Participants should explain that the selling process is a personalized communication and influences the purchase of a product or service and future sales. (It is not advertising or promotion.) They could also mention that this occurs at all levels of the distribution channel. Participants should identify the various levels of personal selling as it relates to the image of the store, and, the level of interaction with customers:Stores that promote a discount image – may have limited sales staff who offer little service beyond checking out at the cash registerStores that attract customers interested in exclusive, ‘pricey’ items have sales personnel to not only help customers make buying decisions, but also make customers feel importantPlanned communication – greetings, explaining specials, things that sales personnel say to all customersPersonalized communication – knowing what level of help will best suit each customerInfluences purchase decisions – knowing how to, and when to, close a saleShould ensure customer satisfactionSPExplain the nature of a promotional planPromotion is one of the market mix elements or features, and a term used frequently in marketing. The marketing mix includes the four P's: price, product, promotion, and place. Promotion refers to raising customer awareness of a product or brand, generating sales, and creating brand loyalty. Promotion is also found in the specification of five promotional mix or promotional plan. These elements are personal selling, advertising, sales promotion, direct marketing, and publicity. A promotional mix specifies how much attention to pay to each of the five subcategories, and how much money to budget for each. A promotional plan can have a wide range of objectives, including: sales increases, new product acceptance, creation of brand equity, positioning, competitive retaliations, or creation of a corporate image. Fundamentally, there are three basic objectives of promotion. These are: To present information to consumers as well as others.To increase demand.To differentiate a product.There are different ways to promote a product in different areas of media. Promoters use internet advertisements, special events, endorsements, and newspapers to advertise their product. Many times with the purchase of a product there is an incentive like discounts (i.e., coupons), free items, or a contest. This method is used to increase the sales of a given product.Promotional Plans:Are detailed for delivering your promotional mix.Identifies all the potential promotional activities in promotional mix, who will carry them out, the costs, etc.Are alendar based, and is tied in to the buying plan (media, products, etc.).Coordinated with all the different aspects of promotion, with distribution and inventory, staff being ready, store being set up properly. The participant should recognize most or all of the following components of a promotional plan:description of promotional methodsassociated costs and budgetexplanation of how promotions relate to objectivemeasure of success; maximizing return on promotional effortsAn outline of the marketing tools, strategies and resources that a company intends to use to promote a product or service. A promotional plan is usually considered a vital planning tool by most business managers that helps contribute toward the successful launch of a new product or service or its expansion into a new market.SPExplain the nature of actionable research SPExplain the nature of affinity partner relationships Affinity partnerships are when two companies link their brands in a mutually benefit relationship. Affinity marketing is very commonly used by credit card companies advertising through universities, exclusive stores (Costco), organizations, sports teams, etc. The credit card company gets customers and the organization gets a percentage of the sales put on the credit cards. When the goals and images of each partner match, these campaigns are win-win scenarios for both parties. Both parties benefit because each business partner provides goods to the other’s customers thereby accessing a new market. Both companies will collect data to ensure the affinity partnership continues to be beneficial. (Co-branding is not the same as affinity partnerships. Co-branding is when two companies make one product with both names; e.g., Dr. Pepper flavoured Bonne Bell lip gloss, Betty Crocker’s Reece’s Pieces cake mix.)SPExplain the nature of agency relationships SPExplain the nature of balance sheetsDescribes a company’s financial position at a given point in timeA snapshot of the company’s financial structureShows assets (what a company owns), Liabilities (what a company borrowed, its obligations) and equity (contributions from owners – common stock – plus contributions from profit – retained earnings).The Balance Sheet must balanceSub-ledgers provide detail for all line items on the Balance SheetWhen compared with past years’ Balance Sheets, the health of the business can be determined.Managers, owners and investors use Balance Sheets to analyse and evaluate the current operations of a business and suggest changes/improvements.Explain the nature of brandingSPExplain the nature of business customs and practices in Eastern Europe SPExplain the nature of business customs and practices in Latin America SPExplain the nature of business customs and practices in South Asia SPExplain the nature of business customs and practices in Western Europe SPExplain the nature of business ethicsBusiness Ethics is a specialized study of right and wrong where selling and business decisions are based on truth, honesty, integrity, and exemplary morals. It concentrates on moral standards as they apply particularly to business policies, institutions, and behavior. Ethical problems are problems of choice. Ethical problems arise not because of people’s tendency to do evil, but because of the conflicting nature of standards and interests, which are valid in themselves. Actions considered unethical are to over exaggerate claims or make unrealistic promises to clients, or to conceal information to make a deal, or to divulge confidential information in order to get ahead. Problems in ethical decision-making and behavior occurs only when individual interests and social norms conflict?with each other. Choices in business often involve a trade between ethics and economics – a difficulty for businesses motivated by profit when they must choose to lower profits in order to make the better ethical decision.Explain the nature of buyer reputation/vendor relationshipsSPExplain the nature of buzz-marketing SPExplain the nature of channel-member relationshipsFor marketing channels to succeed in a competitive marketplace, independent organizations should combine resources to pursue common goals. Channel members often view each other as partners in delivering value to consumers. Channel member relationships can be strengthen by doing things that are mutually beneficial. CSExplain the nature of channels of distributionA channel of distribution is the road that a product or service takes from production to end user. Products and services may use direct or indirect distribution channels to arrive to a customer. Direct distribution is when the producer sells the product to the end user. Indirect distribution involves one or more intermediaries who aid in moving the product from producer to end user. Factors such as whether it is a consumer or industrial product, the cost and size of the product, or the uniqueness of the product, affect what channel of distribution is selected. SPExplain the nature of communications plans SPExplain the nature of contract exclusivity SPExplain the nature of corporate brandingCorporate branding is the practice of using a company's name as a product brand nameIt creates product brand recognition by use of the familiarity of the brand nameOne advertising campaign can be used for several products, all under the brand name Helps with new product acceptance because customers are already familiar with the nameExplain the nature of direct advertising strategiesDirect advertising sends messages directly to customers without the use of media; examples include direct mail, email and telemarketingDirect advertising also emphasizes a measurable response from customersSPExplain the nature of direct marketing channels The participant should demonstrate an understanding that direct marketing is selling directly to the consumer without a ‘middle-man.’. Direct marketing occurs when the "producer" connects with the end user. The end user may be a consumer or a business. The participants could suggest several ways to use direct marketing channels including using a direct sales force, websites, online chats, contact through various social media, email, text message, phone app, direct mail, telemarketing, seminars, trade shows, and other "one-to-one" techniques to communicate with their fans/customers.The participant will name/describe direct marketing and possible channels, and may suggest how direct marketing will be used for this case.PQExplain the nature of effective communicationStudent answers will vary however they should indicate that communication is effective when it is clear, easy to understand and consistent and, at some point, apply the idea of effective communications to the case. Communication can be verbal, written and non-verbal (body language). It includes questioning, listening, observing, empathy, good word choices, and honesty. Communication is also effective if it is well matched to the target market or target audience of the particular product or message – it should “speak to” the target audience in a clear, inclusive and informative manner. Communication is the process of exchanging messages between a sender and a receiver. Effective communicators need to understand channels of communication and media, barriers to communication, non-verbal cues, and have effective listening skills. In addition, one must be prepared to read for meaning, speak properly, and write effectively. Channels (or media) are the avenues through which a message can be delivered; e.g., email, intranet, newsletters, conversations, bulletin boards, meetings, letters. The choice of medium depends on the nature and importance of the message. The more important the message, the more likely the message should be face-to-face.Written communication must be clear, error-free, empathetic, and succinct. The subject and information should be easy to find and understand. Using an active voice, short words, and avoid jargon. Communication may be impeded by a number of barriers, including physical barriers such as distance and position from the speaker, and verbal barriers such as using vague or unclear language. Lastly, a person’s non-verbal cues—such as his or her tone of voice, emphasis, and body language—are critical because they often communicate as much as the speaker’s actual words.SPExplain the nature of effective mobile ad copy PQExplain the nature of effective verbal communicationEffective verbal communication is achieved by knowing your audience and knowing your topic.Be as clear and as specific as possible in all verbal communications and especially when you are asking someone to carry out a task.To ensure the intended message is not miscommunicated or misinterpreted, it is important to be aware of what you are saying, organize your thoughts in a logical way before you speak, and interpret the verbal and nonverbal cues of the recipient to gauge whether your message is making the desired impression. If you are not sure that people understand you, either summarise what you have said in different words, or ask them to summarise your message in their own words.To know your audience, you must listen carefully to what they are communicating (verbal or nonverbal) to identify their needs and wants, and maintain eye contact in order to assess understanding.In order to address a customer’s needs and wants, you must know what you are talking about to gain their confidence in you as an information source in customer service Begin conversations positively. If there is potential for conflict, start off with something on which you both agree to set a positive atmosphere.PQExplain the nature of effective written communications“Written Communication involves expressing yourself clearly, using language with precision; constructing a logical argument; note taking, editing and summarizing; and writing reports.” Effective communication exists when the message is fully understood so that the intended meaning of the sender and the interpreted meaning of the receiver are one and the same.Students should discuss the factors or issues such as:Focusing on the importance of clarity over styleIdentifying the key points, facts and themesWriting in a logical orderComposing a strong introduction and endingUsing short paragraphs and sentences rather than long, rambling ones.Helping key points to stand out by the use of headings, sub-headings and bullet points. This will allow your reader to quickly scan your message for the main points. Writing in a style appropriate to the audienceConsidering how much information and detail the audience will needAvoiding specialist to make yourself understood by a generalist readerHow formal or informal should the writing beSPExplain the nature of e-mail marketing tacticsEmail marketing tactics in today’s information age means that your tactics have to circumnavigate being regarded as spam and being deleted without being read. Once you have a solid email database, spend time going through your contacts and scrubbing out any recipients that you have qualified as being useless to your marketing campaign. Do not delete these contacts; just put them in a separate database. You never know when they may come in handy again. Plan your campaign. Is it announcing a new service, a promotion or an announcement. Present a Professional Email, well designed and clean. Allow people an unsubscribe option. Avoid weekends and evenings as lots of spam gets sent during this time. Avoid Mondays as this is usually the busiest day for most people. Also avoid public holiday periods and summer holiday rushes. The best days and times to send email campaigns typically fall mid week, during working hours.Explain the nature of estate planning (FI:572) (CS)*Explain the nature of ethical leadership (EI:131) (CS)* CSExplain the nature of financial needs (e.g., college, retirement, wills, insurance, etc.) Financial needs are the funds needed for the present and the future. In the present, families need money for: rent or mortgage, utilities, food, transportation, clothing, repairs, insurance, taxes, leisure & entertainment, and charity. For the future, money needs to be put aside for children’s education, mortgages, pensions and estate planning. There is the trade-off between spending the money today versus saving the money for tomorrow. A budget is the most common means of planning and balancing the financial needs of today and tomorrow. People have differing levels of financial security with regard to spending versus saving, as well as to the risk versus return of long-term investments.Businesses need money in the present to cover day-to-day expenses (payables), short-term loans, bank payments, and payroll. Insurance is purchased to mitigate various risks. In the future, businesses need money to discharge long-term debts, maintain or replace assets, and expand/improve the business.SPExplain the nature of global trade SPExplain the nature of import/export law Explain the nature of international tradeto trade with communities, often in remote areas, who wouldn’t normally have the opportunity to do businessExplain the nature of inventory control systemsAn inventory control system is a process for keeping track of objects or materials. In terms of inventory for resale, whether it was manufactured by the company or purchased from another supplier, there are countless opportunities for companies to “lose” inventory. This loss of inventory is referred to as shrinkage. The most common methods would include employee theft and shoplifting, but sometimes shrinkage is due to damage in transit, administrative errors such as shipping errors, warehouse discrepancies, and misplaced goods, and vendor fraud. When dealing with perishable goods, such as produce, natural spoilage is also a source of shrinkage. In a restaurant, it may not even be deliberate. Anytime an employee accidentally spills a glass of milk, shrinkage is occurring.An inventory control system is whatever the organization puts in place to help it keep track of goods. This will include two aspects: determining if anything is missing and when and how it likely happenedinstituting measures to prevent the loss. Traditionally, companies have relied on the honesty of its managers, employees, and customers, but where necessary, have instituted procedures that involve people filling out paperwork at all stages of handling and someone like a manager or accountant will be responsible for making sure all paperwork matches. Modern inventory control systems are almost exclusively based on barcode technology. Though barcodes were initially developed to automate the process of grocery store checkout, their ability to encode a wide variety of alphabetic and numeric symbols makes them ideal for encoding merchandise for inventory applications. Inventory control systems work in real-time using wireless technology to transmit information to a central computer system as transactions occurSPExplain the nature of key account management Explain the nature of marketing and market identificationSPExplain the nature of marketing management Marketing Management is the analysis, planning, implementation and control of programmes designed to bring about desired exchanges with target audiences for the purpose of personal and of mutual gain. It relies heavily on the adoption and coordination of product, price, promotion and place for achieving responses.Marketing consists of discovering consumer needs and wants, creating the goods and services that meet those needs and wants; and pricing, promoting, and delivering those goods and services. Doing so requires attention to six major areas - markets, products, prices, places, promotion, and people. Management is getting things done through other people. Managers engage in five key activities - planning, organising, staffing, directing, and controlling. Marketing management implies the integration of these concepts. Marketing management decisions are based on strong knowledge of marketing functions and clear understanding and application of supervisory and managerial techniques. Marketing managers and product managers are there to execute the processes of marketing management. We, as customers, see the results of such process in the form of products, prices, advertisements, promotions, etc. SPExplain the nature of marketing planningMarketing planning should be done before one starts a business and annually once a business is in operation. Planning focuses on decisions related to variables, which may affect the 4Ps of a business’ (product, price, place, or promotions) and should answer:Where have we been? What are the market conditions now?Who are our target customers now?Where do we want to go?How do we get there?The ultimate goal is to develop an explicit marketing plan based on a great degree of research.Research should cover targeted customer groups, competition, positioning as well as environmental (PEST) and situational analyses (SWOT)SPExplain the nature of marketing plansA marketing plan is a comprehensive blueprint which outlines an organization's overall marketing efforts. A marketing process can be realized by the marketing mix. The last step in the process is the marketing controlling.A marketing plan is the company’s strategy for positioning the product and encouraging sales. It includes a determination of the product, price, place and promotion (the 4 P’s) to be used. This expectation is linked to the identification of the target market and should make sense given that target market. The product launch time should also be included in the marketing plan.Some considerations for the marketing plan might include:Product: each product’s features and benefits: quality, fashion, trend-setting, colour, packaging, inclusions, composition, product choices, etc.Price: Prices are set to match the product’s image, to entice the buyer to purchase, and to make a profit. Strategies such as premium pricing (high price), penetration pricing (low price), everyday low price, psychological pricing (.99 ending), volume and combo pricing (bogo, packages), etc. are used to break into markets and/or improve market share.Place: Place can involve the positioning of each product within the store as well as where products are sold (stores, online, outlets). Promotion: Promotion refers to the combination of all methods used to attract and create desire in the customer. This includes advertising, sales promotions, personal selling, public relations, etc. Solutions must be tied to the target market and the image to be created. As well, they may look at marketing strategies and communication channels appropriate to the target market.SPExplain the nature of marketing researchMarketing research is the systematic collection, analysis, and interpretation of data/information and is used to solve a marketing problem. Marketing research is typically either Secondary or Primary. Primary Research is conducted first hand and did not previously exist. Primary research methods include: focus groups, product tests, questionnaires and surveys, test marketing, product sampling, or other experimental or observational methods. Secondary research is the use of information that has already been collected by other people. Secondary research methods include: the internet, periodicals, newspapers, databases, national census, etc. Research can be qualitative (subjective) or quantitative (objective/measurable), formal or informal, extensive or cursory.The research can focus on many issues: product, price, locations, advertising, motivations, perceptions, competition, media, etc.Explain the nature of marketing research in a marketing-information management systemUnderstands the concepts, systems and tools needed to gather, access, synthesize, evaluate, and disseminate information for use in making businessmarket research gathers that informationvariety of research instruments can be used – observation, survey, primary and secondary dataResearch involves defining the problem and objectives, obtaining the necessary data, developing a plan for collecting the information, collecting and analyzing the dataSPExplain the nature of merchandise plans (budgets)A budget is plan to determine what we need and how much we will spend in various areasFirst, we should forecast our sales and then determine the inventory that is neededA look at our past sales by month would be a good starting pointExplain the nature of non-store retailingCSExplain the nature of office politicsOffice politics is the use of?power?and social networking within an organization to achieve changes that benefit the organization or individuals within it.?Influence?by individuals may serve personal interests without regard to their effect on the organization itself. Office politics can also be impacted by change within the organization.SPExplain the nature of online advertising (e.g., advergaming, virtual worlds, display ads, banner ads, pop-up ads, pay-per-click ads, etc.) CSExplain the nature of operationsOperations include all the activities involved in the day-to-day functions of the business conducted for the purpose of generating profits. It is the organization of everything the company needs to do business. This includes facility location, facility layout, facilities management and maintenance, purchasing, production scheduling, quality control, inventory management, supply chain management, logistics management, administration, safety & security, and employee relations.SPExplain the nature of organizational cultureOrganization culture are the values and behaviours that contribute to the unique social and psychological environment of an organization. Organizational culture includes an organization's expectations, experiences, philosophy, and values that hold it together, and is expressed in its self-image, inner workings, interactions with the outside world, and future expectations. It is based on shared attitudes, beliefs, customs, and written and unwritten rules that have been developed over time and are considered valid.SPExplain the nature of overhead/operating costsOverhead and Operating costs combine to add up to the costs of operating the businessOperating costs can either be fixed (overhead or operating) or variable (operating)Overhead costs must be paid regardless of the level of production or sales and are relatively constant from month to month (insurance, rent, wages, utilities when they cannot be tracked for individual jobs, supervisor salaries). Fixed costs do not fluctuate due to the number of items sold. The fixed cost per item decreases as more items are sold.Variable costs are for the most part the materials and direct labour used to make the product, and are therefore dependent on the business’ level of production, and change constantly depending on the units of production. Variable costs fluctuate because of the total number of items sold. The variable cost is constant as more items are sold.Explain the nature of personnel regulationsCSExplain the nature of positive customer relationsA positive customer relations mindset means believing that your customers: deserve the very best, are your employers, deserve your focused attention, have the right to expect things of the company, and have important problems and complaints. Positive customer relations yield benefits to the business, the employees, and the customer. Businesses benefit by being more competitive, obtaining repeat business, and greater profits. Employees may receive customer compliments and perhaps a raise or promotion for good customer service skills. Customers benefit by having a more pleasant, satisfactory buying experience. This creates an atmosphere of goodwill.Positive customer relations need to be demonstrated when speaking to customers in person, over the phone, or online. It should also be evident while handling complaints, inquiries, and requests. Demonstrate good customer relations by doing the following: considering and attempting to meet their needs, concentrating on them without distractions, following up with them, following through on what you say you are going to do, and being efficient in handling issues.SPExplain the nature of product extension in services marketing SPExplain the nature of product/service brandingBranding is the use of a name, symbol, or design to identify a product in the marketplace. It is used to create a unique image of the product to help customers differentiate between competing products. If a customer is satisfied with a product, branding is important in helping the customer remember to buy that specific product again.In an ever-competitive world, branding is one way of helping you increase sales and at the same time protect and extend the uniqueness of your service or product. Your uniqueness is the very reason why it’s important to develop your brand, and your brand is not your logo.Your brand helps customers and prospects, understand and remember what’s unique about you. It tells your story and helps attract new customers and keep the ones you already have. Your brand is the definition that identifies your business, and makes specific promises: Walmart’s brand is about saving money (Save Money, Live Better). Mazda’s brand is about having fun while driving (Zoom-zoom).Branding is just as important for small business as for large ones. For example, there are hundreds of coffee shops in Vancouver, several per block in some neighbourhoods. Why do some thrive while others fail? Is the coffee better? Is the atmosphere friendlier? Is the service faster? Is the price lower? Is one the go-to location for business meetings, where another is the neighbourhood hang-out? A good brand speaks clearly to its audience about the nature of the product or service, and the people behind it.A well-branded business knows the one or two things it’s best at, and uses those to create a brand message. A good brand:delivers its message clearlyconfirms the credibility of the messageconnects to its audience emotionallymotivates the buyerreinforces loyaltyA brand isn’t “different for the sake of being different.” A strong brand is clearly differentiated by its own unique story.SPExplain the nature of professional selling SPExplain the nature of project management Project management as we know it today has evolved in order to plan, coordinate, and control the complex and diverse activities of modern industrial, commercial, and management change projects.All projects share one common characteristic – the projection of ideas and activities into new endeavors. The ever-present element of risk and uncertainty means that the events and tasks leading to completion can never be foretold with absolute accuracy. For some very complex or advanced projects even the possibility of successful completion might be in serious doubt.The purpose of project management is to foresee or predict as many of the dangers and problems as possible and to plan, organize, and control activities so that projects are completed as successfully as possible in spite of all the risks. This process starts before any resource is committed, and must continue until all work is finished. The primary aim of the project manager is for the final result to satisfy the project sponsor or purchaser, within the promised timescale and without using more money and other resources than those that were originally set aside or budgeted.Explain the nature of remedial actionSPExplain the nature of risk managementRisk Management strategies are used by business to mitigate the impact of business failures and to eliminate or reduce the possibility of business failures. Businesses often use four strategies of Risk Management: Risk Transfer (moving the risk to another party), Risk Avoidance (eliminating or reducing the likelihood of risk factors), Risk Insurance (purchasing insurance to cover costs associate with realized risks) and Risk Retention (accepting the possibility of risk and not acting). SPExplain the nature of sales forecastsParticipant should outline that sales forecasts are an estimate of probable future sales of products in units and dollars.Answer may include: A total estimate of a market may be calculated. This portion is the company’s market share.Sales targets (monthly, quarterly, semi-annual, annual) are measured as a performance standard.Sales forecasts should be revisited and revised on an ongoing basis (i.e. monthly).Explain the nature of sales managementUnderlying goal of any business is to increase profits By weight the costs and benefits, it is in the best interest of the hotel to pursue the option that can guarantee the greatest profitsSales management includes taking into consideration the long term benefits as well (i.e. if this is an annual dog show and it is a success, the hotel can increase their occupancy during downtimes on an annual basis)SPExplain the nature of sample sources (e.g., MR sampling companies, general list brokers, customer lists) Explain the nature of scope of distributionExplain the nature of sponsorship in the sport/event industriesParticipants should explain the benefits of sponsorship to the sponsor as well as the team.Benefits to the sponsor may include but are not limited to:Company name advertised on team jerseys and therefore displayed at all games to other teams and audiences which may lead to more customers for the pany gets a positive image by the students for supporting their activities which could lead to more students buying the company’s products.Benefits to the team being sponsored may include but are not limited to:Access to resources that allow the team to afford jerseys, equipment, and promotional items.sponsorship and sporting events go hand-in-handprovides funding for major eventsused in everything from stadium sponsorships (i.e. Rogers Centre), promotional products, sports gear, etc.sports has a large audience that can reached in sponsorship is to create an image and create revenue for the company quick way for a company to brand itselfExplain the nature of sport marketingExplain the nature of sport/event brand/brandingCSExplain the nature of staff communicationThe student should explain the role staff communication plays in the workplace; that is, to uniformly instruct, explain, or provide information to all employees (and stakeholders) at exactly the same time.The means of communicating can be by email, poster, letter, conversation, newsletter, intranet, notice board, meetingThe structure of communicating should be factual, precise, inclusive, clear, succinctGood communication allows companies to be productive and operate effectivelyCan be formal and informal – emails, meetings, conversationsCan include surveys, feedback, help linesCan be through recognition and rewardsCan empower employees if they feel they are able to communicate and express needs/wants/desires or problemsCommunications are generally on-going and regular,?planned, and focused on aimsSPExplain the nature of stress management PQExplain the nature of tax liabilities Explain the nature of the fashion cycleSPExplain the nature of the sampling design process SPExplain the nature of tools that can be used to access information in the database system Explain the nature of wage and benefit programsCSExplain the nature of warehousingKeeping stock items in a central location from where it is shipped to smaller locationsWarehouses should be secure locations set up for efficient picking and shipping of orders to customersWarehouses try to keep most critical items in stock at all timesSPExplain the nature of word-of-mouth (WOM) strategies CSExplain the need for innovation skillsInnovation skills are the use of new technology, materials, or processes to improve on existing products and services, or how they are produced and distributed.Background: There are many more innovators than there are inventors. Innovators conceive of ways to improve on existing products, processes, or distribution methods. Most innovators develop as a result of the competitive markets; one business tries to become better than another business at something.Being able to think outside the box and share ideas with your employer for the betterment of the company. Innovation skills are needed to meet the quickly changing realities of the banking and finance sector.PQExplain the need for ongoing education as a workerThe average American has at least seven jobs before he/she reaches age thirty. People can expect to change employers several more times before they retire. While some people end up losing their jobs due to downsizing, everyone is affected by it. If managers are cut, individual workers may acquire more responsibilities. The skills you will need to manage new responsibilities may require more education. You may need to update your skills or learn new ones to keep pace with employment trends, as job opportunities shift from one industry to another. The competitive global market puts added demands on workers, as businesses try to stay up-to-date with technology and ways of doing business.One of the key components of human resource management is providing training and education for employees. Education is important on an ongoing basis for many reasons, including:Ensuring employees are continuously aware of any changes and advances in the industry or in their customer base which may affect their businessInforming and training employees on any changes in process or procedure within the workplaceCommunicating relevant laws, rules, and regulations to employeesEnsuring employees have completed all mandatory training such as food safety, etc.Providing employees an opportunity to continuously improve how they do their job Ensuring employees are equipped to provide the highest levels of customer serviceKeeping abreast of new technologyLearning new skills which make the employee more versatile, valuable, and desirable in the market placeAchieving career-related goalsPromoting a can-do, adaptable, more integrative approach to problem-solvingFrom the employer’s perspective, employee education results in longer term retention of employees SPExplain the need for professional and ethical standards in marketingThere is a need for professional and ethical standards in all professions. The role of marketing is to help businesses create a competitive advantage. In doing so, marketers try to convince potential customers that they need a particular product or that one company’s product is better than another’s. Without professional and ethical standards, companies may be tempted to engage in deceptive marketing practices. Deceptive practices include misrepresentation, omission, or misleading practice. Consumers may also encounter deceptive pricing practices or false comparative information. All of these practices may lead the consumer to be unhappy and ultimately stop relying on marketing information from companies. This will make it more difficult for all companies to sell their products.The participant should identify what ethical and professional behaviour is and why this type of behaviour and standards are needed in marketing. Companies are encouraged to set standards for their employees to follow when marketing their products. Marketers have a responsibility for ethical behaviour as it relates to advertising and sales.Marketers should avoid false or misleading advertising for products or servicesMarketers should not pressure or mislead consumers with their sales tactics or promotionsExplain the need for sport/event insuranceExplain the need for sport/event marketing informationCSExplain the need to save and investAll individuals are responsible for their own wealth. Savings normally refers to shorter term, safer investments. Investing denotes longer term, more diverse portfolios of products of varying risk. Savings are can be put into the safest places or products which often allow you access to your money at any time. Some examples may be given like traditional savings account, chequing accounts and certificates of deposits. If money is invested in a locked-in account and cannot be withdrawn until a certain date, the interest rate will be higher. When you invest, you have a greater chance of losing your money you invest in because they are not insured. However; they typically earn a higher rate of return and can grant the potential for greater rewards and wealth. The riskier an investment is, the more interest a company has to offer in order to get people to part with their money.SPExplain the organizational design of businesses SPExplain the principles of data analysis CSExplain the principles of supply and demandSupply—The quantity of a good or service that producers can provide, determined by the costs of producing and by the price people are willing to pay for it.Factors that can increase or decrease supply:Change in the numbers of producers Changes in price—the higher the price the higher the supplyChanges in technologyChanging expectations for the future—during this economic downturn, consumers may not pay for this luxury item, or it may be an inexpensive luxury item that they can affordChanging production costs—this is a service business, perhaps wages could be decreasedDemand—the quantity of a good or service that consumers are willing and able to buy at a particular price.Factors that can increase or decrease demand:Changing consumer income—consumers may not be able to afford this luxury itemChanging consumer tastes—consumers are spending more money of their petsChanging expectations for the future—see aboveChanges in population—may be more pet ownersWhen supply and demand meet, it determines price and quantity soldsupply goes up, the demand for the product goes down; prices go downsupply goes down, the demand for the product goes up; prices go upExplain the process of determining customer needsExplain the promotional methods used by the travel and tourism industryConsumer promotions—contests, discounts, displays at travel agencies, cataloguesTrade promotions—trade shows, taking travel agents on sample tours, sales incentives for selling tripsCSExplain the purposes and importance of creditCredit enables businesses and individuals to obtain products or borrow cash in exchange for a promise to pay later. For day-to-day operations, businesses use credit (lines of credit) to buy materials and supplies from other businesses now and pay when those materials have been converted to product and sold. Businesses borrow money for the long-term (loans and bonds) in order to purchase assets (buildings, equipment, machinery) and pay debts back on a schedule. Also, companies can extend credit to provide purchasing incentives to customers, enhancing their sales revenue. Credit allows a customer to obtain goods or services before payment, based on the trust that payment will be made in the future. For individuals, this is most commonly made possible through a bank using a credit card. Credit cards create convenience for carriers in not having to find ATMs or carry large sums of cash. They are also more widely accepted than other forms of financial exchange such as personal cheques because they are backed by trusted financial institutions.CSExplain the receiving process CSExplain the relationship between customer service and channel managementChannel management is a term that refers to the way that a business or supplier of products uses various marketing techniques and sales strategies to reach the widest possible customer base and meet the customers’ needs. The channels are all of the various communication methods by which the product is marketed and sold to customers. When done properly, channel management promotes sales of the product and ultimately develops a better relationship between customer and product. By offering a solution to the problems the customers identified – cloth choice and suit measurements - it will entice many others to order custom suits online. When customers are given options that meet their needs, they will repeat business. Some companies will analytically identify the goals for each distinctive channel and then implement various marketing strategies to make sure that those goals are attained, all while staying consistent to the overall brand of the business. Each channel that the company uses must consistently deliver the standard of service established by the organization and expected by the customer. If a channel is not consistent with this standard of service (i.e. long wait times, lack of follow up/confirmations, different return policies), the channel can quickly become less desirable by customers making it less effective to use. Good channel management enhances good customer service. Companies can: efficiently process orders, record and provide correct shipping information, send the correct products, and ensure timely delivery of products.CSExplain the relationship between customer service and distributionDistribution involves the way that a business or supplier of products uses various marketing techniques and sales strategies to reach the widest possible customer base. The distribution channels are all of the various outlets by which the product is marketed and sold to customers. A well-managed distribution system motivates those channels to sell the product and ultimately develops a better relationship between customer and product. This is achieved by identifying the goals for each distinctive channel and then implementing various marketing strategies to make sure that those goals are attained, all while staying consistent to the overall brand of the business. By doing so, the company is better able to deliver what the customers want when and how they want it – all elements of customer service.The better a company is at distribution, usually the better the customer service and satisfaction becomes.? When distribution works well, consumers are not really aware of its importance, but it is the opposite when distribution doesn't work well.? Dissatisfied customers results from poor distribution.? Supply and demand and economic utility are big elements of distribution.? The most important parts of economic utility to satisfy customers are time and place utility.? Distribution has a good relationship with the consumer when the consumer can locate and purchase the products and services easily.Explain the responsibility of individuals to apply ethical standards in marketing. PQExplain the rights of workers Participant may discuss the following rights of workers:To be treated fairly and ethicallyTo be compensated for work doneTo receive benefits as outlined in company policies and procedures To vacation as per provincial laws and company policiesTo work without harassmentSPExplain the role and responsibilities of marketing researchers Explain the role and responsibilities of marketing researchers (PD:139) (SP)Explain the role and responsibilities of retail merchandisers Did the participant explain the importance of providing its employees with a safe and positive working environment?Did the participant outline the responsibilities the merchandiser has to the customer?Did the participant discuss the role a retail merchandiser has to the society within which it does business?Explain the role of business ethics in pricingThe main crux of pricing ethics concerns the establishment of a balance of power (through information) between the producer and consumer. In a completely free market, producers often have the upper hand which can lead to unethical practices such as the following. Price Fixing – the agreement between a group of people on the same side of a market to buy or sell a good or service at a fixed price. Bid Rigging – promising a commercial contract to one group, even though you make it look like multiple parties had the opportunity to submit a bid. Price Discrimination – the strategy of selling the same product at different prices to different groups of consumers usually based on the maximum they are willing to pay. Price Skimming – when the price of a product is first sold at a very high price and then gradually lowered in order to capture consumers who are willing to pay more first and then new groups are triggered with each decrease in price. Price Gouging – when a price is set higher than it normally is to take advantage of a sudden increase in demand or shortage of supply.CSExplain the role of business in societyBusinesses provide employment opportunities for people in society. These people become trained, skilled workers through their work experience thereby increasing their work capacity and potential to contribute to the business and the economy. As workers develop, they are paid reflective of their skills, experience, and contributions.Some of the compensation earned by working is spent on consumables purchased from other businesses. This revenue generation allows the businesses to continue to afford to employ more people.The government taxes business income, personal income, and purchases. This money is then reinvested into programs such as health care, education, and infrastructure for the maintenance and betterment of our standard of living.Businesses also have a responsibility to the environment and sustainable practices such that future generations’ quality of life and standard of living aren’t compromised for today’s society.The role of business in society is to meet the needs and wants of consumers, as well as providing good jobs for the workforceBusiness must also demonstrate good corporate citizenshipBy creating a partnership between the city, its citizens and businesses, a win-win situation can be achieved for all – an attractive convention centre that can be enjoyed, that creates good jobs both directly and indirectly, and allows for recognized corporate support and publicityCities should pursue agreements with major corporations to help finance the convention centre in return for sponsorship recognition (joint venture)Provide goods and services to peopleProvide employment to people and therefore compensation and a means of achieving a standard of living.Contribute to the improvement of society through the development of inventions and innovations.Offer essential services to people via public sector businessesOffer luxury services and allow for the consumption of entertainment, the arts, sports, etc.SPExplain the role of business websites in digital marketing Explain the role of communication ethics in the provision of business services. CSExplain the role of customer service as a component of selling relationshipsSelling relies on repeat business – customer service drives repeat business. Integral to successful selling is good customer contact. Service extras and a friendly, positive, knowledgeable, helpful staff are what the customer will remember and cause him/her to return. Product knowledge is part of customer service.MNExplain the role of customer service in position/imageStudents should comment that the actions of every employee should reflect the position or image that the business wants to occupy in the mind of the consumer.Employees need to be made aware of the businesses position so that they can carry it out in every act of customer service. Effective customer service should reinforce the product image.Hospitality industry sales are based on corporate image and reputation. Newly established small hotels need to establish their image and reputation by providing additional services and amenities not possible in larger establishmentsSPExplain the role of ethics in customer relationship managementEthics would require the business to follow all legal requirements and to maintain adequate records, perform audits, train employees regularly and employ all safeguards.Participant could define ethics as it applies to information gathering and management.This is where the participant could indicate how the cashier could have handled the issue differently – addressing the customer’s concern and offering some sort of assurance of a change to the behaviour.The essence of good customer service is forming a relationship with customers – a relationship that that individual customer feels that he would like to pursue. Good customer service is all about bringing customers back. And about sending them away happy - happy enough to pass positive feedback about your business along to others, who may then try the product or service you offer for themselves and in their turn become repeat customers.Customers must be dealt with ethically and believe the company has acted ethicallySPExplain the role of ethics in human resource managementEthics would require the business to follow all legal requirements and to maintain adequate records, perform audits, train employees regularly and employ a diverse group of people.SPExplain the role of ethics in information management Ethics within a company guide behaviours to be in the best interest of all involved parties. Management can ensure ethical treatment of information by incorporating the following:Know and obey the privacy laws where they conduct businessWrite company policies concerning information management – train employees to know this information, and disclose to customers (on the website, perhaps)Protect, secure and restrict access to collected information from inside and outside threatsPlace trust and the well-being of customer information ahead of company profitsSupport ethical behaviour and enforce sanctions against unethical practicesSPExplain the role of ethics in marketing-information management CSExplain the role of finance in businessFinance is the function of business that pertains to money management. On a day-to-day business, finance is responsible to arrange sufficient funds to meet ongoing expenses. The finance department is also typically responsible for company insurance, currency management, and treasury concerns. In the long-term, finance is responsible for planning, raising, maintaining and paying off large sums for capital expenditures.Finance plays a key role in planning a corporation’s start-up requirements (IPO’s), equity and debt financing and management, growth financing, and treasury. There are various financial statements that are used to analyze a company and its financial standing such as: income statement, balance sheet, and cash flow. The participant should demonstrate the importance of finance in any and every business and its operationsPQExplain the role of information systemsInformation system refers to a network of communication and data channels used within a business. Typically the system consists of both hardware and software and is used to facilitate a variety of processes. Information systems can be used for inputting, storing, analyzing and/or distributing data and information. The participant may point out that information systems are used for:Keeping records about customers and providing information about customers to hotel staff Coordinating hotel reservations that are made through various channels, including the hotel website, third party travel websites, or by phone CSExplain the role of promotion as a marketing functionPromotion is part of the marketing mixPromotional mix includes personal selling, advertising, sales promotions and public relations/publicityIt is about promoting brand image and creating brand identity and loyalty, increasing awareness, and increasing salesSPExplain the role of situation analysis in the marketing planning process Situation analysis?refers to a collection of methods that?managers?use to analyze an organization's internal and external environment to understand the organization's capabilities, customers, and business environment. ?The situation analysis consists of several possible methods of analysis: The?5Cs Analysis,?SWOT analysis?and?Porter five forces analysis.The 5C’s Analysis considers these factors: company (its objectives and capabilities), competitors (who they are and what they are capable of), customers (who they are and how to reach them), collaborators (suppliers, distributors, agencies), climate (PEST - political, economic, social, technological).SWOT analysis measures strengths, weaknesses, opportunities and threats. SWOT analysis should distinguish between where your organization is today, and where it could be in the future. Once key issues have been identified with your SWOT analysis, they feed into marketing objectives.Porter’s Five Forces focus on competitive rivalry by assessing supplier power, buyer power, threat of substitution, and threat of new entry.Explain the role of training and human resource developmentSPExplain the role requirements of entrepreneurs and owners CSExplain the selling processBasic selling process: identify need/want, find information on alternatives, evaluate alternatives, purchase, evaluate post-purchase satisfactionMany customers need help in determining the correct products to solve their problems.Store personnel have the opportunity to up-sell and cross-sell other products while the customer is thereExplain the significance of the buyer’s jobUltimately the buyers job is to have the goods available when the customers want itBuyer determines the amount of money available to make purchases – linked to the idea that carrying too much inventory can also affect cash flow Determine what the customers want – out of sight out of mind – customers must see what they will buyExplore target market, customer preferences, shop the competitionBuyer determines the best supplier of the good and the best time to take deliveries of the good – agreement with distributor to purchase various cards for a term if the return of cards are possibleCSExplain the time value of moneyFuture value of money is different than current valueInflation and deflation cause the value to fluctuate, so a dollar may be worth less in the futureExplain the types of advertising mediaDirect mail advertising is advertising sent to prospective buyers through the mail.Outdoor advertising includes signs and posters, painted bulletins, billboards, and other rented spaces along city streets, highways, etc.Transit advertising is advertising used in buses, cabs, and subways; and in airline, bus and railroad terminals.Specialty advertising is advertising which provides a useful product with an advertising message on it. Pens and pencils, calendars, balloons, key rings, and chains with companies' names on them are examples of specialty advertising.Television advertising is advertising broadcast on TV. Spots are usually 15, 30, or 60 seconds in length.Radio advertising is advertising broadcast on the radio. Spots are usually 15, 30, or 60 seconds in length.Magazine advertising is advertising printed in magazines. Magazine ads can be printed either in black and white or in color.Newspaper advertising is advertising printed in the newspaper. Newspaper ads are printed most frequently in black and white but may be printed in color. They are sold by the line.Online advertising is advertising appearing on specific websites on the Internet. Examples include: banners around a webpage, a precursor to videos, pop-up ads, and, embedded ads in social media. The websites the advertisement is to be displayed should have some connection to the target market in order to reach the most applicable viewers.CSExplain the types of economic systemsThe world’s economic systems fall into one of four main categories: traditional economy, market economy, command economy and mixed economy; however, there are unlimited variations of each type. An economic system must define what to produce, how to produce it and for whom to produced it.?Traditional – A traditional economic system is one in which each new generation retains the economic position of its parents and grandparents. Traditional economies rely on the historic success of social customs. South America, Asia and Africa support some traditional economies of thriving agricultural villages. Tradition decides what an individual does for his living, so industry, clothing and shelter are the same as in previous generations.Market – Market economies are based on consumers and their buying decisions rather than under government control. Market trends and product popularity generate what businesses produce. The producers choose how to make products based on the most economically sound decision: that might mean machine labour to save costs or human labour for specific skills. The buyers decide who gets which products by what they are willing to pay for what they want.The market system relies on many factors to ensure its success. The profit motive or incentive for a financial reward for enterprise stimulates production. Information regarding available products and services needs to be available to producers and consumers. Producers use the information to set accurate prices and procure supplies at the lowest cost. Price relates directly to the costs and benefits of product creation and use and required mand – In a command economy, the government controls all economic activity. One example of a command economy is communism. In a government-directed economy, the market plays little to no role in production decisions. Command economies are less flexible than market economies and react slower to changes in consumer purchasing patterns and fluctuations in supply and demand.Mixed – A mixed economy combines qualities of market and command systems into one. In many countries where neither the government nor the business entities can maintain the economy alone, both sectors are integral to economic success. Certain resources are allocated through the market and others through the state. Theoretically, this system should be able to combine the best policies of both systems, but in practice the proportion government controls and response to market forces varies. Some countries rely more on market emphasis and others on state planning.CSExplain the types of promotionPromotion itself has its own elements called the promotional mix; namely, advertising, personal selling, promotions, and public relations/publicityAdvertising – Paid promotion of goods or services from a business (i.e. billboards, direct mail, TV ads, posters, web ads, etc.)Personal Selling – Using an oral presentation to persuade a person or persons to purchase goods or servicesPromotions – Incentives used to get consumers to purchase a good or service (i.e. contests, coupons, samples, etc.)Public Relations – Paid initiatives to build positive perceptions of the business (i.e. sponsorship of community events, fundraising, articles in the media, etc.)Publicity – Free media coverage, usually of an event of interest to the general publicExplain the types of retailersSPExplain the use of advertising agencies CSExplain the use of brand names in sellingDon’t confuse branding with advertising. Advertising is how you call attention to a brand. Branding is how you make an impression in the minds of your customer. Typically, a branding campaign consists of three elements:1) The Brand itself.This is the perception that already exists in your customer’s mind. It is a combination of recognition, experiences and promises. You can find out a lot about your brand through simple research. Ask, who are my clients? What is the one thing for which I am known? A brand is: “The intangible sum of a product’s attributes: its name, packaging, and price, its history, its reputation, and the way it’s advertised.”2) The Brand Strategy.This is simply known as positioning. If you are known for everything, you are known for nothing. Don’t try to be all things to all people. It is irrefutable that the fastest growing companies today are the ones with a narrow focus. You must have a razor sharp position in the marketplace. Every brand should come with a promise. What does your brand stand for? As you position your brand, it will pay off in several ways. The most important is that your name will begin to be associated with your specialty. In addition, your advertising will become better focused, as you will know exactly who to target.3) The Brand Identity.This is every visual expression of the brand, be it in print, television or the kid in the blue shirt that helps you pick out videos. One of the fastest ways to build brand identity is through the careful application of graphic design. First, the graphics must reflect the company’s positioning strategy. Second, the graphics must be appropriate to the targeted customer. And last, the graphics must be consistent. The key to marketing a brand image is the consistent use in all markets. This includes the packaging, the colors, and the product’s total image. Does this mean that every marketing piece has to be exactly the same? No, quite the contrary. In fact, it is just as important that the graphics stay fresh and consistent with the market. This is especially important when the market is a young audience. A well-designed branding campaign will establish consistent branding elements, while leaving room for flexibility. Through careful brand management, Coca-Cola’s look today is as fresh as it ever was. Packaging used to be redesigned every five years. Today the average package life cycle is two or three years.If your brand stands for a promise, if your communications are integrated, then you will begin to build a relationship with your customers. While they are filtering out the barrage of imagery that comes their way, they will also seek out your brand.SPExplain the use of celebrities/influencers as a WOM strategy It's not a new idea in marketing; celebrity endorsements sell products. And while not all brands subscribe to the celebrity endorsement theory, it's based in pretty simple logic. People idolize celebrities, so when famous people are seen in advertisements promoting a new product, audiences are prompted to buy that product, either subliminally or directly.There are methods to fine tune the effectiveness of endorsements, however, that lead to bigger impact. Here's a look at how brands can use celebrities to boost their sales:The Effects of Endorsements on Sales and Loyalty The potential positive effects on product sales cannot be understated. According to a study just one endorsement can spell an increase in sales by 4%, almost immediately.?That's why businesses, even small businesses would be foolish to resist the mere exploration of celebrity influencers to promote their brand. The effects would be substantial if the brand could find a prominent name who influences their audience.When it comes to affecting brand loyalty one study? found that while the use of?celebrity endorsers does not?necessarily influence consumer brand loyalty? celebrity, "endorsements are a powerful and useful tool that magnifies the?effect of a campaign."Celebrities Inspire Consumer Confidence The brand value added by celebrities is immediate and palpable. When a celebrity signs an endorsement deal with a product, an element of legitimacy is suddenly present in the company, simply because of the power of the name backing it up.According to a study, a brand that inks an endorsement contract with a celebrity or an athlete can see their stock rise up to .25 as soon as the news is made public. This represents an increase in perceived legitimacy from the celebrity's endorsement, even though the product has not changed at all. The same study claims that on average, audiences are exposed to some 3,000 advertisements today across all media, leading to an element of marketing overexposure. Studies have shown that advertisements that use a celebrity, about whom many people already have positive feelings and impulses, grab an audience's attention more easily than a standard ad.Explain the use of databases in organizing marketing dataSPExplain the use of descriptive statistics in marketing decision makingStats can be used to set goals and measure performance in achieving those goalsStats used to know where to focus marketing efforts, e.g., if large proportion of population doesn’t recognize our brand/logo, we might want to focus efforts on increasing awarenessIf stats show customers are not thanked to conclude a transaction or are left with an ambivalent feeling, we can focus our efforts on improving our relations with customersDescriptive statistics are quantities such as mean, median and mode that summarize important aspects of a set of data should describe the benefits/disadvantages of these numbers and how they can contribute to changes to be made on the cruise ship. PQExplain the use of feedback for personal growth The term ‘feedback’ is used to describe the helpful information or criticism about prior action or behavior from an individual, communicated to another individual (or a group) who can use that information to adjust and improve current and future actions and behaviors. Effective feedback, both positive and negative, is very helpful.?Feedback occurs when an environment reacts to an action or behavior. For example, ‘customer feedback’ is the buyers’ reaction to a company’s products, services, or policies; and ’employee performance feedback’ is the employees’ reaction to feedback from their manager – the exchange of information involves both performance expected and performance exhibited.All can benefit from feedback. Both common sense and research make it clear – feedback and opportunities to use that feedback helps to improve and enhance, whether an individual, group, business, business unit, company, or organization – and that information can be used to make better informed decisions. It also allows us to build and maintain communication with others.Feedback is?valuable information that will be used to make important decisions. Effective feedback has benefits for the giver, the receiver, and the wider organization. Here are five reasons why feedback is so important.Feedback is always there. If you ask someone in your organization when feedback occurs, they will typically mention an employee survey, performance appraisal, or training evaluation. In actuality, feedback is around us all the time. Every time we speak to a person, employee, customer, vendor, etc., we communicate feedback. In actuality, it’s impossible not to give feedback.Feedback is effective listening. Whether the feedback is done verbally or via a feedback survey the person providing the feedback needs to know they have been understood (or received) and they need to know that their feedback provides some value. When conducting a survey, always explain why respondents’ feedback is important and how their feedback will be used.Feedback can motivate. By asking for feedback, it can actually motivate employees to perform better. Employees like to feel valued and appreciate being asked to provide feedback that can help formulate business decisions. And feedback from client, suppliers, vendors, and stakeholders can be used to motivate to build better working relationsFeedback can improve performance. Feedback is often mistaken for criticism. In fact, what is viewed as negative criticism is actually constructive criticism and is the best find of feedback that can help to formulate better decisions to improve and increase performance.Feedback is a tool for continued learning. Invest time in asking and learning about how others experience working with your organization. Continued feedback is important across the entire organization in order to remain aligned to goals, create strategies, develop products and services improvements, improve relationships, and much more.?Continued learning is the key to improving.SPExplain the use of illustrations in advertisements Explain the use of licensing in sport/event marketing. SPExplain the use of marketing-research information in professional selling SPExplain the use of product placement SPExplain the use of RSS feeds SPExplain the use of social media for digital marketing Social media is part of digital marketing. Digital marketing activities include search engine marketing and optimization, content marketing, e-commerce marketing and social media marketing. Digital marketing is the use of digital channels to promote or market products and services to end users. It is also known as online marketing, internet marketing, or web marketing.Like any marketing initiative, using social media to market a product one must set goals, research the best media sites to use, create a plan, execute delivery, monitor, and adjust on an ongoing basis. For successful posting and promotion on social media:Use pictures as they garner more attention than wordsPost the same content with multiple titles and images, and test for successCustomize the look to maximize viewership for each social media siteShare at the peak times of each social media siteAsk questions of viewers and pursue a human connection with social media usersShare on the right platform – know which sites are used by your target audiencePay to promote your content into the news feeds of target social media users to gain visibility of your target marketGet employees and business partners to regulary share your contentJoin and become an engaging member of relevant communites in order to promote your content to a very targeted audienceSPExplain the use of storytelling in marketing SPExplain the use of technology in accounting Explain the use of technology in the distribution functionSPExplain the use of technology in the pricing functionspreadsheets can be used to show different options to the customer easily (i.e. price differences in meals, rentals, etc.)accessibility to the internet for current market values, use it as a research toolSPExplain the use of video/images for digital marketing 63% of businesses?have started using video content marketing. Out of those 82% of businesses feel video marketing is an important part of their strategy. This trend is fueled by 83% of businesses believing that video marketing gives them a good ROI74% of users who watched an explainer-video about a product subsequently bought it.?Users are mostly put off by videos that don’t explain the product or service clearly enough. Low quality and poor design didn’t matter nearly as much.?The whole concept of content marketing is based on trust and creating long-term relationships. Stop selling and let the people come to you by providing them interesting and useful information.Promotional videos can foster trust as well. Some consumers are still skeptical about buying products and services on the internet because they fear fraud and cheating. But effective marketing videos present your products in a conversational form. That creates a sense of individual approach which is why?57% of consumers?say that videos gave them more confidence to purchase online.Videos allow you to increase the time spent by visitors on your site. Thus, longer exposure builds trust and signals search engines that your site has good content.?Moovly?gives us whopping statistics: You’re 53 times more likely show up first on Google if you have a video embedded on your website.90% of consumers?watch videos on their mobile. From Q3 of 2013,?mobile video?views have grown more than 233 percent. YouTube reports mobile video consumption rises?100% every year. Since people like to watch videos on the go, and the number of smartphone users is growing, your video audience keeps getting bigger and bigger. Also,?Google?tells us that smartphone users are twice as likely than TV viewers and 1.4 times more likely as desktop viewers to feel a sense of personal connection to brands that show video content or ads on their devices.98% of users?say they’ve watched an explainer video to learn more about a product or service. That is why?45% of businesses?who use video marketing said that they have an explainer video on their home page. Of those businesses, 83% said that their homepage explainer video was effective.Video marketers must remember that people share emotions, not facts.?76% of users?say they would share a branded video with their friends if it was entertaining. Emotions are not exactly ROI but social shares can increase traffic to your site, and you can take it from there.Explain the use of visual merchandising in retailingCSExplain the use of visual merchandising in retailing SPExplain type styles used in advertisements Explain types of accidents in retail food marketing businesses SPExplain types of advertising mediaNine types of advertising media available to an advertiser are: (1) direct mail (2) newspapers and magazines (3) radio advertising (4) television advertising (5) film advertising (6) outdoor advertising (7) window display (8) fairs and exhibition and (9) specially advertisingThe student may make mention of any of the above and comment on the effectiveness for this product, as well as the costs involved. Explain types of business riskCSExplain types of display arrangements CSExplain types of investmentsAnswers should reference the risk/return relationship of investments, the varying risk in different types of investments, and the benefits of a diversified portfolio. Recommendations should include distribution of investment among many types of investment classes, industries, and market capitalization (size of companies.) Included may be:Interest from cash holdingsDividends Stocks (common, preferred)Stock, growth or incomeMutual funds Bonds (corporate or government)Government securitiesReal EstateCommoditiesOptions, futures, derivativesInsurance policies (whole life)IPO – initial public offeringDollar cost averaging – investing the same amount each month Explain types of promotionsPromotions include contests, giveaways, coupons, sales, samples, etc. Participants should discuss promotions and specifically the promotion they will use. Multiple answers are possible but must make sense for the product and target market identified.Explain types of public relations activities SPExplain types of unit inventory-control systems CSExplain warranties and guarantees Explain ways that technology impacts business servicesProductivity/turnover of tables, improved customer service, inventory control, ordering, improved menu item tracking, sales forecasting, client convenience, etc.Negative ways also – ID theft, inappropriate use of technology/data, etc.Participant could indicate that the current situation is an example of when technology can present a problem, rather than being a help to the organization.Participant could also include some of the specific positives of the use of technology – i.e. menu tracking – can better serve customer needs, inventory management – will have materials on hand for popular items, able to plan in the kitchen for busier times/items.Explain ways that technology impacts food marketingSPExplain ways that technology impacts marketing communications Explain ways to build employee moraleSPExplain website-development process Explain what motivates people to select an agencyPeople are motivated to use agents because they are informed and experienced Agents also save time and make the traveling experience easier and more organized Explain why display is importantPQExtract relevant information from written materialsEmails must be made a priority for the two office workersEmails from customers must be looked at three times in the day in order to give prompt feedbackEmails from customers must be read and work orders created for the services they needWork orders should be a standard form that is filled out and given to the plumbersAny questions for clarification need to be immediately emailed back to the customer or the customer needs to phonedPerhaps a customized email can be added to the website to make it easier for customers to respond to the email. For example—name, nature of problem, contact information, times available, etc. This will make it easier for the office workers to extract the informationSPFacilitate (lead) group discussions Facilitate a customer buying decisionSPFacilitate prospect's buying decisions CSFollow chain of command CSFollow established security procedures/policies PQFollow instructions for use of equipment, tools, and machinery PQFollow oral directions CSFollow rules of conduct CSFollow safety precautionsThe manager needs to make certain that all employees are aware of the safety procedures and practices these procedures.New employees need to be trained as part of their orientationAfter an incident, the staff needs to review the incident to see what can be learned for the next time.If employees do not follow these safety precautions or do not take them seriously, the manager should discipline themAs always, the manager must lead by example.Were the students’ recommendations in the interest of safety?Did their suggestions align with modern safety proceduresCSFollow up orders SPFoster client-agency relationship Foster open, honest communication (EI:129) (SP)*Foster positive relationshipsThe company needs to celebrate the success of the new schedule. Organize a company picnic or other social event for all of the families that recognizes that the entire family, not just the employees, has had to make adjustments because of the changes.Perhaps 5% of the 23% cost savings could be passed on to the employees.CSFoster positive working relationshipsFostering positive working relationships has many benefits: our work is more enjoyable, we accept change easier, and we're more innovative and creative.One can foster positive working relationships by:Mutual Respect?– When you respect the people that you work with, you welcome the diversity represented in the group, value their input and ideas, and they value yours. Working together, you can develop solutions based on your collective insight, wisdom and creativity, and time and energy isn’t wasted “watching your back”Mindfulness?– This means taking responsibility for your words and actions. Those who are mindful are open, careful and attend to what they say, and are courteous and professional to co-workers and customers at all times.Make work fun – arrange social events for employees to establish a more personal relationship, not just working relationship (i.e. team sports, get togethers, drinks after work, etc.) to create a bond between workers.Regarding the work itself, positive working relationships are enhanced when these things are considered:Establish team member roles and responsibilitiesDetermine a common goal and strategies to achieve itLay out employee expectationsWeekly meetings to keep the team apprised of progress, and connectedStrategically match workers by skill, experience, education, interests, etc.Open communication – allow employees to approach leader about any issues they are experiencingCSFulfill orders SPGain commitment from client SPGather brand information SPGather customer/client feedback to improve service SPGenerate marketing communications ideas Marketing communications are the means by which firms attempt to inform, persuade, and remind consumers - directly or indirectly - about the products and brands that they sell. Sales promotions are short-term incentives to encourage the purchase or sale of a product or serviceand?include several communications activities that attempt to provide added value or incentives to consumers, wholesalers, retailers, or other organizational customers to stimulate immediate sales. These efforts can attempt to stimulate product interest, trial, or purchase. Examples of devices used in sales promotion include coupons, samples, premiums, point-of-purchase (POP) displays, contests, rebates, and sweepstakes.Personal communication channels – are between two or more persons; it can be done face-to-face, or by a person to audience, over telephone, or through post or couriers or through emails or through mobile messagesNon-personal communication channels - include media, atmospheres, and events.?Media channels - include print media (newspaper, magazines, souvenirs, proceedings of conferences), broadcast media (radio, television), display media (billboards, signs, posters) and electronic media (audiotape, videotape, videodisk).Atmosphere - what firms create in their office environment. The office interiors and exteriors have a meaning to the potential buyers.Events - occurrences designed to communicate particular messages to target audiences or audiences. Company arranged news conferences, opening ceremonies of various kinds, and sponsorships of various events come under event communications channels.Types of communication channels include but are not limited to: social media, print advertising, corporate website, online advertising, telemarketing, email marketing, webcasts, tradeshows, direct mail promotions, white papers, and face-to-face events and channels of distribution could include direct from manufacturer, retail, wholesale, import, or specialty channel (internet, home shopping, catalogue, vending machine, etc.). Regardless of the channel of communication or distribution, the promotional activities, and level of customer service, the marketing communications must be consistent and reflect the desired message.SPGenerate product ideasLook to the competition. Visit exhibitions, look on the Internet, walk around distributors premises. Look at market sectors. Look at the indirect competition - companies making products that perform a similar function to yours but which are made in a different way. A manufacturer of cardboard boxes wanted to extend its range and looked at companies using plastics in packaging where it found targets which were interested in a more sustainable packaging product.Look at patent applications. Where patents are registered and what they are for can be highly illuminating. In addition, there could be mileage in looking at patent applications which have remained dormant but which could present good licensing opportunities today.Look inside your own company. Ask the sales teams, look back through old reports, check the archives. There could be something that was not appropriate for launch a few years ago which could make it to the market today.Look to customers. Customers use your products and sometimes they modify them to make them more user-friendly without mentioning what they have done to you. Walk around your customers’ factories and offices and see how your products (and your competitors’ products) are being used. Ask your customers what they would wish for if they had a magic wand.Look at the pressures influencing a market. The traditional forces that shape a market are political, economic, social and technological. Which of these are having most effect on your market? A company selling mail-order products could see that its customer base was ageing rapidly. Instead of trying to diversify and find younger customers, it extended its products for older people and tapped into a very wealthy and profitable seam.Look to the academics. Universities and academics research new products. Sometimes their lack of commercialization means that they creatively look in new directions.Look to foreign sources.PQGive verbal directions CSHandle and report emergency situations In answering this question the participant must show a sense of urgency, and display critical thinking. Possible scenarios they may discuss are as follows: What level of supervision/ management should report to the lobby to first asses the nature of the emergencyIdentify whether the emergency can be dealt with internally or if an external company is required due to extensive damage or safety concerns Possible forms of communication if any is required to ensure the further safety of Guests and Associates.Handle customer inquiriesCSHandle customer/client complaintsSimilar to handling difficult customers – remain calm. Follow a step by step process. Listen to the complaint. LISTEN and UNDERSTAND. Give the customer your full attention and listen to the whole problem before responding.?Ask questions to clarify what the customer is saying. Put yourself in their shoes - if you had a problem, you would want someone to listen to you. Appearing disinterested, attempting to argue back, getting angry or frustrated, will only exacerbate the situation. Apologize for customer feeling this way. Any number of factors could have contributed to the issue, and you might not be at fault. However, you need to take responsibility for the problem. Sometimes, an apology is all it takes to placate an angry customer.Try to explain why this situation may have occurred, if possible rectify it, or call someone more superior (manager) who can. Customers never want to hear excuses.?However, you are fully entitled to briefly explain why they didn’t receive the standard of service they expected. This should take place after you’ve listened to their complaint and made an apology.Acknowledge the frustration and disappointment that the customer must be experiencing.CSHandle difficult customersThe participant should identify some of the items on the list below when discussing a process for handling customer complaints:ListenTake the customer aside to discuss the complaintRepeat the facts to show that you understand what the customer has statedMaintain eye contact and positive body language (do not cross arms or turn away)Get assistance from a supervisor, if necessaryEstablish a plan that determines the next action stepRemain calm – the calmer you are the calmer the customer will stay.First just listen to the situation and see if the solution is within your capabilities, then try to resolve the situation.If you are unable to handle the situation yourself, you may ask a co-worker or manager for assistanceHandle situation when the customer is at faultCSHandle telephone calls in a businesslike mannerCallers should be greeted with a salutation (i.e. good morning, good afternoon, good evening) followed by the company name and employee name.This projects professionalism not only to the customer on the phone, but also the customers in the store who may be around the sales associate.Adding the employee name demonstrates confidence and accountability for the conversation about to take place.Project mannerisms and tone that reflect your pride in your job.Smiles are “heard” over the phoneEnthusiasm to help customers demonstrates your enjoyment in working for the companyKnow about products and services offered by the company and share that information if applicable. Make suggestions of other things you can do to help the customer.Thank the customer for calling; confirm customer satisfaction; allow the customer to disconnect first.Identify ‘out-of-the-box” sales promotion ideas for sports/events.SPIdentify career opportunities in marketing research Identify career opportunities in retail merchandisingCSIdentify career opportunities in retailing SPIdentify challenges with the use of unstructured data SPIdentify communications channels used in sales promotionMarketing communications are the means by which firms attempt to inform, persuade, and remind consumers - directly or indirectly - about the products and brands that they sell. Sales promotions are short-term incentives to encourage the purchase or sale of a product or service. Sales promotion?includes several communications activities that attempt to provide added value or incentives to consumers, wholesalers, retailers, or other organizational customers to stimulate immediate sales. These efforts can attempt to stimulate product interest, trial, or purchase. Examples of devices used in sales promotion include coupons, samples, premiums, point-of-purchase (POP) displays, contests, rebates, and sweepstakes.Personal communication channels - between two or more persons; It can be done face-to-face, or by a person to audience, over telephone, or through post or couriers or through emails or through mobile messagesNon-personal communication channels - they include media, atmospheres, and events.?Media channels - include print media (newspaper, magazines, souvenirs, proceedings of conferences), broadcast media (radio, television), display media (billboards, signs, posters) and electronic media (audiotape, videotape, videodisk).Atmosphere - what firms create in their office environment. The office interiors and exteriors have a meaning to the potential buyers.Events - occurrences designed to communicate particular messages to target audiences or audiences. Company arranged news conferences, opening ceremonies of various kinds, and sponsorships of various events come under event communications channels. CSIdentify company’s brand promiseBrands are names, terms, designs, or symbols that distinguish a product from their competitors and they communicate features, benefits, qualities and value. This company is new and currently has no brand promise or slogan.Creatively and effectively using a company brand image and slogan will help build product recognition, customer loyalty and a positive corporate and product image.The company’s brand promise is delivered through their brand name (the name of the company), their yet-too-be-developed slogan which must direct their entire business philosophy and employee behaviour. Customers will come to have confidence in the product quality, the delivery and the company’s social responsibility based on the brand and associated brand promise.MNIdentify company’s unique selling propositionIn general terms, the Unique Selling Position is described as:The key to effective selling in this situation is what advertising and marketing professionals call a "unique selling proposition" (USP). Unless you can pinpoint what makes your business unique in a world of homogeneous competitors, you cannot target your sales efforts successfully. Pinpointing your USP requires some hard soul-searching and creativity. One way to start is to analyze how other companies use their USPs to their advantage. This requires careful analysis of other companies' ads and marketing messages. If you analyze what they say they sell, not just their product or service characteristics, you can learn a great deal about how companies distinguish themselves from competitors. SPIdentify components of a retail imageA retail image is how the retailer is defined in the customer’s mind based on both functional and psychological attributes. Shoppers should be able to determine the store’s name, line of business, price points, and personality very quickly. Components of a retail image are:store locationlayout and designphysical facilitiesoperations (store hours, etc.)merchandisingpricingcustomer servicecommunity servicepromotional methodsIdentify considerations in implementing international marketing strategies SPIdentify consumer protection provisions of appropriate agencies SPIdentify customer touch pointsCustomer touch points are your brand's points of customer contact, before the purchase, during the purchase and after the purchase. For example, customers may find your business online or in an ad, see ratings and reviews, visit your website, or hear about it from someone. During the purchase, a customer can be in contact with a number of sales clerks, the customer service desk, and the cashier. After the purchase, the customer may be emailed a survey, or given points or coupons to induce a future touch point. Identify customer’s buying motives for use in sellingSPIdentify data monitored for marketing decision making Consumer information that is monitored is information about age, gender, income, education, and family size. Marketing mix information that is monitored is information about basic products, product features, services, product packaging, and guarantees. PQIdentify desirable personality traits important to businessStudents may cite the “7 habits of highly effective people” or they may simply discuss desirable traits such as: confidence, flexibility, motivation, enthusiasm, creativity, intelligence, emotional intelligence, etc.Independence: Be proactive – don’t wait for problems to happen Begin with end in mind – envision your long-term customer relationship and work toward it Put first things first – prioritize Interdependence:Think win-win – seek out mutually beneficial solutions in relationshipsSeek first to understand then to be understood – use empathetic listening to compel others to reciprocateSynergize – combine the strengths of people through positive teamworkSPIdentify effective advertising headlines Identify elements of promotional mixAdvertisingNewspaper, television adsBillboards and in-store displaysPersonal SellingSamplesIn-store face-to-face advertisingTele-marketingSales PromotionCoupons, Sweepstakes/contest (Enter to win with purchase…) and RebatesPublicity/Public RelationsHolding a charity event on behalf of the store/new departmentHost competition Host community event (Barbecue, Bake Sale etc.)SPIdentify emerging customer trends through social networking SPIdentify emerging trends If you get too comfortable and adapt to trends too late in the game, a competitor will beat you to the punch. Then, instead of staying ahead of those trends, you'll quickly try to play catch-up, which can cause even more problems in your execution. Accepting trends and change as facts of life and embracing them can help you avoid that.Whether you're ready for them or not, trends change industries every day. Knowing what's coming around the corner and evolving your company alongside those changes can keep you competitiveTake advantage of industry research and trends reports.Regularly follow publications and influencers in your industry.Make it a point to surround yourself with smart people.Build and maintain a close group of advisers.Ask the right questions, and listen to your customers.Don't be afraid to ask current customers what's on their radars and what they see as future needs in their areas. You can get solid insight into trends in general, and you can start developing more specific plans for your company to grow and better service clients down the road. Learn to accept--and even embrace--change.SPIdentify emerging trends for use in selling Identify event target-market segmentsIdentify factors affecting a business’s profitProfit is the monetary return a business owner receives for taking the risk of investing in the business. Profit equals income less expenses. There are two types of profit: gross – the money left over after the cost of goods is subtracted from sales, and net – the money left over after the operating expenses are subtracted from the gross profit.To increase profit, a business can increase worker efficiency, increase sales or decrease expenses.Factors that affect profit include: the demand for the good/serviceexpenses – supplies, material, labour, administration, advertisingprice point – each type of product must determine what prices to set that will ensure that costs are covered while still making a profit but not so high that potential customers will be driven awaythe economy chance Identify factors affecting pricing of sport/event productsSPIdentify factors considered when selecting best shipping method Identify factors that affect planningIdentify fashion trendsIdentify forms of economic utility created by marketing activitiesSPIdentify hang-tag needs Hang Tags are a marketing staple that when used correctly can help increase sales. Detailed hang tags that represent your brand’s message is vital to product merchandising and should fuse cohesively with your marketing plan. Hang tags can say a lot about your brand and greatly influence your customer’s purchasing decisions.Strategically placed tags with relevant information can encourage a shopper who’s unsure about a particular item to make the purchase. Well-designed, custom hang tags should stand out on your products and attract as well as inform your customers. If your tags seem cheap, this may inadvertently convey to customers that your products are substandard and your brand image could be ruined. Superior marketing?hinges on a design that differentiates your brand from other similar brands on the market.They include:Care and pricing information to make your brand feel more transparent.Background information about your brand to get your customer’s personally invested in your unique story and products.A materials list, especially if you use eco-friendly materials that appeal to environmentally conscious shoppers.Background information on a product’s origins, especially locally made items for consumers who enjoy supporting their community.One-of-kind details for unique items for those who don’t want mass-produced merchandise.Promotional data to plug your brand’s website and/or social media channels.Distinctive logos that make your products stand out and help customers immediately identify your brand.SPIdentify information monitored for marketing decision makingTarget and segment market for new endeavorInformation that needs to be collectedThe majority of information required involves determining the demographics and psychographics of the potential customers. Demographics are the finite or definitive characteristics of a group of people in an area and would include a combination of age groups, incomes, education, occupation, type of dwelling, living downtown or in suburban areas, size of the family, etc. Psychographics deals with is their attitudes and interests. The company would also have to determine the competition already in each market to determine if there are enough customers to support an additional competitor.how often customer frequents establishmentrevenue per customerarea that customers come fromIdentify internal and external service standardsThe participant must first show an understanding and explain the difference between the internal and external customer. An internal customer can be someone that works within the same department or even another position, and the external customer is the individual/guest who is buying from the company or using the company’s services. It is important to note that both internal and external are based on the needs and expectations of the customers. Internal service standards may include: Treating employees with respect Lead by example and be true to your word Create a team atmosphere by ensuring that everyone is motivated to give 100%External standards may include: Being professional, courteous and treating customers with respectShowing empathy and ensuring customers feel understoodCreate unconditional loyalty by ensuring memorable experiences that will result in having customers feel the need to return.Identify issues and trends in retailingIdentify major product categories and classifications of food products in grocery storesMNIdentify market segmentsSPIdentify methods/techniques to generate a product idea The participant may discuss some/all of the following ideas: creation of a focus group in-store surveys analysis of market trendsHow did the participant come up with this new product/service idea?What was the rational/inspiration behind it? How did they determine if this idea would be successful? Students can mention processes like brainstorming, product mapping (finding gaps or niches in the market for a certain product or service), SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis, Secondary market research (websites, periodicals, databases), Primary market research (Surveys, Focus Groups).Identify new product opportunitiesConsumers have more and more education – demand higher quality goods that meet “green marketing/ethical” standardsMicrowaveable meals to begin with – adult consumersExpansion of product line to include infant and children’s food products; snacks, etc. – all meeting quality standards of the brandSPIdentify opportunities in the social-media space Identify possible resolutions of an ethical dilemmaIs the decision or solution ethical as well as legal?Do nothingFire the accountantSearch for more informationConfront the accountant with the accusationCall the policeReport to Securities CommissionPossible solutions:Do nothingSearch for more information ~ survey customers; review complaints; what policies and procedures are competing businesses usingChange gift certificate policy ~ make gift certificate transferable; increase date of redemption (i.e. 1 year); gift certificate can be used for sale items (treat like cash); encourage as much selling as possible; offer online purchasesHave an automated reminder system. I.e. send customer a reminder of expiry date (via email). (Option not advisable)SPIdentify product opportunitiesNeed to identify appropriate target markets and further develop their individual needs and wants. Identify product(s) to fill customer need(s)SPIdentify product’s/service’s competitive advantageIn any industry it is important that companies distinguish themselves from competition by promoting their competitive advantage – how/what makes the company better than competitors. This ultimately gives consumers a reason to choose one competitor over another and drives petitive advantage is defined as an advantage that one product/service has over others within its industry allowing it to generate higher sales over its competitors. Some of the competitive advantages include:Competitive advantages of the company: loyalty, location, reputation, the customer’s shopping experience, their online presense, the return policy, brand popularityParticipants may also provide an analysis/overview of what the competitors do not haveCompetitive advantages of the products: quality, quantity, variety, popularity, price established within the community SPIdentify professional certification requirements available for professional salespeople SPIdentify quality-control measuresA business builds a loyal clientele and many people in other cities would be aware of their name and image. Customers will have an idea of what to expect when they go to any location with the same name, and therefore, it is very important that the quality, presentation, product is carefully duplicated.It should be relatively easy to use the same suppliers for all locations. The bigger and more flexible issue will involve consistent presentation. In the case of a restaurant each cook usually develops their own particular “touch” with the food they are preparing, and extensive training or rigid guidelines will have to be in place to ensure consistent quality among locations. This will even involve the presentation and serving of food to the customers.The Head Office should also consider having area supervisors who would travel from location to location to ensure the consistency was being maintained.Identify reasons for changes occurring in retailingSPIdentify requirements for international business travel (e.g., passport, visa, proof of citizenship, immunizations, and sponsorship letters) SPIdentify requirements for professional certifications in marketing communications Identify research methods used to evaluate the quality of business services.SPIdentify resources needed for project When you start your project you need to consider what resources are required to get it done. It’s always best to ask for the things you need at the beginning, rather than getting stuck halfway through because you haven’t planned it out, and having to ask then for additional resources. Projects can’t start without…People Human resources are required to get the project done. Even if it’s just you. Normally a project team is a group of people and you won’t be working alone. Capital Your project needs money, because it will need to pay for things, even if that is only your salary Material Goods Projects also use up assets. Assets, or goods, vary from project to project but it’s highly likely that your project will need some kind of tangible resource. It’s normally what you use the project budget to buy. Resources of all types are important to get you project off the ground and successfully moving in the right direction. The more effort you put into thinking through the types of project resources you need and requesting them far enough in advance to ensure that they are ready for you when you need them, the easier it will be for you to complete your project on time, on budget and to the required specifications.SPIdentify routine activities for maintaining business facilities and equipmentBetter organization of merchandise for the customers to purchase.Assigning responsibility for cleaning and restocking merchandise areas.Management supervision to ensure ongoing maintenance of area.Asking for customer feedback on service levels provided.Identify sales methodologies used in sports/event marketingIdentify security measures that deal with external and internal theftSPIdentify skills needed to enhance career progressionA student competitor could mention many sensible skills that could enhance career progression. The list below features those skills strongly recommended for today’s workplace:Communication skills (listening, speaking, writing)Creative thinking and innovationFlexibility and adaptabilityLeadership/management skills and visionInterpersonal abilitiesCollaborationCSIdentify sources of career informationGathering as much information as possible when on the job search is very important and searching through the many avenues to find this information is just as important, which can be:people you know/word of mouth - local librariesemployerspost-secondary institutionsvocational officesstate employment officesinternet resourcesnewspaper (print/online) classifiedsministry of laborEach source of information can offer answers to different questions and help to give you a full picture of an interested careerCompanies advertise their jobs in different ways (media, recruitment agencies, word of mouth)Identify sources of career preparationSPIdentify sources of error in a research project (e.g., response errors, interviewer errors, non-response errors, sample design) PQIdentify sources that provide relevant, valid written materialSources for written material may be obtained internally or externally. Internal sources include company data such as monthly sales records, internal policies, interviews with employees, etc. External sources include customer feedback, trade magazines, the government, etc.Local newspapers will provide construction information and updatesCoupons can be provided in the temporary location, through newspaper, local coupon clipper magazines, flyersIn-store flyers to provide details of construction updatesMobile sign outside main location to provide address of new temporary locationMobile sign outside new location making people aware of its existence, specialsIdentify speculative business risksIdentify sports/event trendsIdentify strategies for attracting a targeted audience to website.Create traffic and keep the ordering process under three clicksBid on targeted, descriptive keywords and use a keyword selection tool like Google’s AdWords Keyword Tool to research targeted keywords that attract maximum traffic for minimal cost-per-click.Submit or suggest your site to the organic search engines to make sure that the "spiders"--automated programs that crawl the web indexing sites for the search engines--find your site and include it in the search results.Give away free content to other websites. Even just two or three well-written articles can generate truckloads of traffic, as long as they don't contain a sales pitch. You want to include rare, hard-to-get information that'll lend your articles automatic value--the kind of information that establishes you as an expert in your field.Get free word of mouth publicity using viral marketing.?Encourage people to pass on information about your site to others, and you use that word-of-mouth publicity to advertise your business. Get free links on other high-traffic websites.?Link requests require minimal effort from you, but a featured link on a major site in your industry can absolutely explode your traffic numbers quickly. Affiliate programs--also referred to as "reseller" or "associate" programs--are a great way to get other people (called "affiliates") to promote your product or service for you. For every paying customer your affiliates refer to your site by using banner ads, text links, letters of referral and so on, you pay them a commission. You track these referrals using special software. Use e-mail marketing to attract repeat visitors. Begin collecting visitors' contact information from day one using an opt-in form on your home page. Then send them e-mail messages to follow up and keep them thinking about your site, such as:Monthly or bi-weekly newsletters that include tons of tips and informationFree reports on topics your market would appreciateAnswers to common questions people ask about your productOffers for products similar or complementary to ones you may have already offered themFree product trials that give potential customers a taste of what you have to offerA "downgrade" offer for a product that's less expensive or robust than your featured offerSPIdentify strategies for attracting targeted audiences to website.One of the biggest challenges we face as marketers is attracting the right traffic to our website. Most people think the important part of this sentence is "traffic". They believe any traffic is good traffic, no matter who it is. But this is the wrong way of thinking. While bigger numbers make us feel like our marketing is working, it's more important that we look at additional numbers like visitor to lead conversion rates and lead to customer conversion rates. Because what it all comes down to is this: is your marketing generating business results?Identify Your?Buyer Personas: who are your ideal customers? who are you marketing to? what are their pain points / challenges?Develop a Persona-Driven Keyword Strategy: search algorthims have changed, and you will see that finding keywords that are relevant to them are clearer. What phrase would they type into a search bar to find the solutions? These are going to be part of your keyword strategy. Once you've pulled together a list of keywords, you can start mapping out your content strategy. Assign keywords to your blog posts, content offers, campaigns, web pages, etc.Start Blogging: Now that you know who you are targeting and what keywords you're going to use so they can find you, it's time to start putting this into action and developing content. Blogging is a great way to drive qualified traffic to your website because Google in particular looks at when a site was last updated as it shows them the site is still active and relevant and Blogging fixes that. Each time you write a new blog post, you're adding additional content to your site, and one more page is getting indexed by search engines. Google in particular looks at when a site was last updated as it shows them the site is still active and relevant. Additionally, each blog post provides another opportunity for you to get found in search. And since your keywords are aligned to since your keywords are aligned to your personas, the traffic you're attracting will be the people you wantGet active on Social Media: Promoting your content on social media is a way to drive traffic to your website. Social media is a place where sharing is encouraged and more than likely, through social media promotion, your content will have a wider reach.Identify strategies to manage customer experience during peaks in demandWhat makes service industries so distinct from manufacturing ones is their immediacy: the hamburgers have to be hot, the motel rooms exactly where the sleepy travelers want them, and the airline seats empty when the customers want to fly. Balancing the supply and demand sides of a service industry is not easy, and whether a manager does it well or not will make all the difference.If the capacity for taking orders has been increased without matching the capacity of staffing to meet those needs, the customer experience will fall. Controlling Supply: The service manager has more direct influence on the supply aspects of capacity planning than he or she does on the demand side. There are several things a service manager can do to adjust capacity to fluctuating demand.Using part-time employees: Many service companies have found that it is more efficient to handle demand whenever it occurs than it is to attempt to smooth out the peaks. The peaks vary by type of business—during certain hours of the day, during certain days of the week, during certain weeks of the month, and during certain months of the year. These service businesses usually maintain a base of full-time employees who operate the facility during non-rush periods but who need help during peak periods. One of the best-known resources is part-time labor pools, especially high school and college students, parents who desire work during hours when their children are in school, and moonlighters who desire to supplement their primary source of income.Maximizing efficiency: Many service managers analyze their processes to discover ways to get the most out of their service delivery systems during peak demand periods. In effect, such analyses enable the service company to increase its peak capacity for little additional cost.For example, during rush periods employees perform only the tasks that are essential to delivering the service. If possible, managers use slack periods for doing supporting tasks, which in essence they are inventorying for peak periods.To maximize efficiency, managers examine even peak-time tasks to discover if certain skills are lacking or are inefficiently used. If these skills can be made more productive, the effective capacity of the system can be increased. Even rearranging the layout of the service delivery system can have a major impact on the productivity of the providers of the service. Another way to attack the peak capacity constraint is by cross-training. The service delivery system is composed of various components. When the system is delivering one service at full capacity, some sections of the system are likely to be underused. If the employees in these sections are able to deliver the peak service, they add capacity at the bottleneck. When the demand shifts and creates a bottleneck in other components of the system, the employees can shift back again.Increasing consumer participation: The more the consumer does, the lower the labor requirements of the producer. Bag-’em-yourself groceries, salad bars at restaurants, self-service gas pumps, customer-filled-out insurance information forms, and cook-it-yourself restaurants are all examples of increased consumer participation in the production of services.There are, of course, some risks to increasing consumer input: consumers might reject the idea of doing the work and paying for it too; the manager’s control over delivery of the service is reduced; and such a move can create competition for the service itself. Customers can add their own sugar and cream. Sharing capacity: The delivery of a service often requires the service business to invest in expensive equipment and labor skills that are necessary to perform the service but that are not used at full capacity. In such cases, the service manager might consider sharing capacity with another business to use required, expensive, but underused resources jointly.SPIdentify techniques to increase ad response time CSIdentify tentative occupational interest SPIdentify the basic torts relating to business enterprises Identify the basic torts relating to business enterprises (BL:069) (SP) Identify the chemical reaction that produces electrical energy in a batteryIdentify the company’s unique selling propositionA Unique Selling Proposition refers to a company’s unique proposition to its customers to make them switch brands SPIdentify the effects of global trade on retailing Identify the effects of international trade on buying and merchandisingExport/import lawsTariffs Economic conditions of trade countriesHuman Rights issues SPIdentify the elements of the promotional mixThe combination of personal selling, advertising, sales promotion, direct marketing and public relations make up the promotional mix. Each plays a vital role in promoting businesses and their products.Personal Selling – Personal selling requires that a company employ sales representatives who generate and maintain direct contact with prospects and customers. It is one of the costliest forms of promotion. Direct contact can take the form of personal meetings, telemarketing, email contact and correspondence.Advertising – is a form of non-personal promotion. Companies pay to promote ideas, goods or services in a variety of media outlets. Advertising can be found everywhere from magazines, newspapers, televisions and web sites to gymnasiums and city buses. With advertising a company engages in one-way communication to the prospect or customer. Sales promotion – represents all marketing activities – other than personal selling, advertising and public relations that are used to stimulate purchasing and sales. The objectives of sales promotions are to increase sales, inform potential customers about new products and create a positive business or corporate image.Direct marketing – advertising directed to a target group of prospects and customers rather than to a mass audience. The two forms of direct marketing are printed direct mail, which is information sent via regular mail to home or business and electronic direct mail. The goals of direct marketing are to generate sales or leads for sales representatives to pursue. Generally direct marketing generates a response from the targeted customer i.e. special offer coupon. Direct marketing gives recipients an incentive to respond.Public Relations and PublicityPublic Relations (PR) – activities enable an organization to influence a target audience. Often public relations campaigns try to create a favourable image for a company, its products, or its policies. However, companies can rely on public relations strategies and techniques for many reasons. One of the goals of a public relations program is to cultivate media relations with reporters who cover a specific industry. One of the most important media tools is the news release. A news release is an announcement that is sent to the appropriate media outlets.Publicity involves bringing news or newsworthy information about an organization to the public’s attention. This process is known as placement. The main function of publicity is to develop a positive perception or awareness of the organization in the marketplace. The right kind of publicity can create and maintain a company’s image; negative publicity can devastate it. People like to do business with respectable companies. Placement of publicity is free. A news story on the evening news is free while advertising can cost thousands of dollars. News reporters are usually viewed as more objective than advertisers. The disadvantage is that you cannot control the content of publicity.Identify the elements of visual merchandisingSPIdentify the impact of product life cycles on marketing decisionsFive stages of the PLC – Introduction, Growth, Acceptance (maturity), Decline and Decision PointPLC explains the different stages of customer acceptance of an itemIntroduction – birth of a new product; very expensive stage as dollars are being poured into developing the new product. Early adopters are the consumers who will purchase the goods so marketing should be focused on these trendsetting consumers. Advertising in downtown offices and nearby businesses, advertising on the building itself, using social media where possible, as well as the more traditional advertising in trade magazines, attract the early adopter.Growth - Customer awareness is limited but growing quickly at this stage as the item is new. Marketing decisions are crucial at this stage – advertising should be at its height because the product still needs to catch on. Word of mouth advertising is also important here. Maturity – sales increase slowly at this stage. Advertising here is based on the reputation of the product that has lasted so long and serves to remind customers of its existence.Decline – marketing here will be trying to determine why there is a decline. Proper identification of the reason is essential to finding a solution to counteract it. Marketing may focus on reigniting sales by altering/updating the product, or by updating/re-launching its image Decision Point – it is at this point where marketers may elect to completely repackage or rebrand the product in attempt to create a new buzz or discontinue the product altogether.Students may also discuss fads, niches, or seasonality in looking at how to respond to sales opportunities.CSIdentify the impact of small business/entrepreneurship on market economies Small business is big in Canada: 98.2% of all businesses have fewer than 100 employees. When you add in medium-sized businesses (100 to 499 employees), the percentage rises to 99.8%. They are the engine of the economy and their success is vital to Canada’s prosperity.Here are 10 things you probably didn’t know about small and medium-sized enterprises (SMEs) and their impact on Canada’s economy.There are almost 1.1 million SMEs in Canada.More than half (55%) have fewer than 4 employees.Only 1.6% are medium-sized businesses.Small businesses employed almost 69.7% of private sector workers in 2012, or 7.7 million people across the country.In the 2002 to 2012 period, small businesses were responsible for 77.7% of all jobs created in the private sector. Small businesses created around 100,000 jobs each year on average.SMEs represent 54.2% of the economic output produced by the business sector (in 2005).90% of exporting companies have fewer than 100 employees, but produce 25% of the total value of Canadian exports.The largest number of SMEs are in the wholesale trade and retail sector (18.8%).Fewer than one out of four Canadian SMEs invest in research and development (R&D).Only half of new firms (51%) survive their fifth year of operation.Identify the importance of product life cycles on marketing decisionsFive stages of the PLC – Introduction, Growth, Acceptance (maturity), Decline and Decision PointPLC explains the different stages of customer acceptance of an itemIntroduction – birth of a new product, very expensive stage as dollars are being poured into developing the new product. Early adopters are the consumers who will purchase the goods so marketing should be focused on these trendsetting consumers. Advertising in magazines are through popular media outlets (celebrities) are also useful for engaging the early adopter.Growth - Customer acceptance is limited at this stage as the item is new – the item is available on a small scale – retailers purchase small amounts and watch to see how they are received by the customers. Marketing decisions are crucial at this stage – advertising should be at its height because the product still needs to catch on. Word of mouth advertising is also important here. Do not want the product to be removed early (BUST).Maturity – sales increase slowly at this stage. Advertising here is based on the reputation of the product that has lasted so long.Decline – marketing here may be based on a change in price, packaging/design, or the campaign Decision Point – it is at this point where marketers may elect to completely repackage or rebrand the product in attempt to create a new buzz.Students will present various ideas that will fit within this framework. Students should recognize that marketers need to be mindful of their customers and their progressing acceptance of the goods they offer. Various promotional strategies should be utilized in order to keep customers interested in purchasing books.May also discuss fads, niches, or seasonality in looking at how to respond to sales opportunities.Identify the key loss prevention methods used by retailers to reduce shrinkage Identify the major sources of display ideas and their themesIdentify the market segments that are most likely to use servicesIdentify the reasons for changes occurring in retailingIdentify the safety issues for handling and storing batteriesIdentify the types of promotionIdentify the various types of business riskIdentify the ways technology impacts retailingSPIdentify transactional data through electronic means (e.g., bar coding, optical scanners, automatic replenishment systems, electronic data interchange [EDI], and reader-sorters) SPIdentify trends in social-media space PQIdentify types of currency (paper money, coins, banknotes, government bonds, treasury notes, etc.)Currency is a?system of money?(monetary units) in common use, especially in a nation. Under this definition, British pounds, U.S. dollars, and European Euros are examples of currency. These various currencies are stores of value, and are traded between nations in?foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance.SPIdentify types of drawing media SPIdentify types of modeling techniques SPIdentify types of public-relations activitiesParticipants should address that public-relations is a means of communicating with the target market that is mutually beneficial and can include promotional materials that can lend itself to a strong public image. Public-relations activities may include helping the public to understand the company and its products/services. Participant’s suggested activities may vary.Some of the types of public relations activities that the participant might mention are: Sponsorship and philanthropy of product, sports, cultural or charitable eventsAwarding scholarships, and donationsLobbyingInternal communication to employees through newsletters, posters, payroll stuffers, etc.External communication to mass media and social media by using pamphlets, brochures, blogs, vlogs (video blogs), YouTube channels, etc.Special Events – the use of a project, program, action or happening, generally involving public participation, to meet overall goals to obtain publicity or other exposurecreating news releases (an announcement that a company sends to the news media)PQIdentify ways that technology impacts business Identify ways that technology impacts businessThe legal field has expanded due to the impact technology as had on society. Today technology is a term referred to daily in every business. It may be relating to ticket sales in the entertainment business or on-line shoe sales in retail. It may be related to a new phone system being installed or new data entry software. There is no end to the impact technology has on communication, productivity and the overall nature of today’s business culture. With this new powerful innovative tool, come concerns and cautions that create a need for counsel in terms of confidentiality, on-line security, trademark and copyright protection, cross- culture issues, and more. Technology has also created concerns for ethics, but the benefits from profits and savings in productivity outweighs these concerns and commerce demands that technology keep rolling in a fast and aggressive puter software and hardware provide a manager with the means for capturing, storing, and analyzing information regarding the operations of the business.Better technology makes the job of managing easier because it improves the accuracy, timeliness, and usefulness of the information produced.Example: computer scanning of UPC codes when receiving eliminates errors made in identifying part numbers, which is an important factor in managing inventory.Example: linking the sales processing and invoicing system to the inventory management system also improves accuracy and reduces loss.SPIdentify ways to segment markets for marketing communications SPIdentify ways to track marketing-communications activitiesTracking and measuring marketing-communications are done through several common key performance indicators (KPIs). Here are some examples: Sales Revenue: How much revenue has your marketing campaign brought your company? Understanding your sales revenue is important to know how effective your marketing campaign is, no company wants to spend money on something that isn't generating money. Cost Per Lead: How much is it costing you to acquire a customer through marketing??Relevant costs include manpower (creative and technical), technology and software, general overhead, advertising, marketing distribution. Social Media Reach: Social media engagement can include anything from likes, comments, re-tweets, shares, mentions, etc. Traffic to Lead Ratio Understanding your website and mobile traffic, especially knowing where your traffic is coming from, whether it's organic, direct, social media or referrals is extremely important. Is your?traffic continually increasing or is it dropping? Is it getting you leads?Identify what customer services are offered by supermarketsIdentify who is responsible for planning and creating displaysSPImplement a communications plan Implement a ticket sales campaignParticipants should provide a variety of creative ideas on how to sell tickets. SPImplement category management process SPImplement digital marketing campaign SPImplement strategies to grow social-media following CSInspire othersPeople who inspire others: Are authentic – don’t put on airs, are honest, have integrity, show who they really areConnect with other’s dreams – listen, and help them align them with company goalsNotice, name and nurture abilities that others don’t see in themselvesInspire with great, motivating storiesCreate a culture of inspiration and inclusion – commit to excellence and character developmentEmpower others – provide clarity and structure, establish roles, encourage accountabilityKeep their team cohesiveExpect optimal performance – shared accountability, performance depends on clear goals and timely feedbackRecognize the team’s efforts with compliments or even weekly discussions on what they are proud of accomplishingSPIntegrate software applications to prepare promotional materials PQInterpret a pay stub SPInterpret and adapt to a business’s culture CSInterpret business policies to customers/clientsEmployees should be well trained on the policies and have many examples of how the policies can be interpreted.After a situation has been handled, it should be used as an example for employees for future reference.Explain the new changesInterpreting business policies typically involves explaining company procedures, often written in bureaucratic language, to customers who are already irritated and upset. By acknowledging their frustration and using plain and ordinary language to describe what's required from the customer to proceed, customer service representatives can diffuse a tense situation, maximize the opportunity to conduct a successful transaction and provide pointers to other information, such as brochures, website links and other phone numbers for help and support.Back up the business policy by describing how it helps streamline business transactions that actually help customers in the long run. Provide details about why changes to previous policies make the current policy more advantageous in terms of long-term gains. Cite any laws, studies conducted, customer feedback obtained or conventional business practices that reinforce the implementation of the business practice.Involve customers in the interpretation of any business policy. Ask for candid feedback about how the rules impact their business. For example, record input with online surveys using free software applications such as Qualtrics, Zoomerang or SurveyMonkey. Publish your findings so that customers can see that you have taken their feedback seriously and intend to act on their suggestions. Propose an implementation date that allows the customer time to adjust to your new policy and enforcement of a current policy. Ensuring customer satisfaction involves validating that new mechanisms meet the needs of existing customers and future customers alike.SPInterpret correlations SPInterpret data mining findings SPInterpret descriptive statistics for marketing decision making PQInterpret others’ nonverbal cuesNonverbal communication ranges from facial expressions and eye contact to body language, gestures, and signs and may also include use of space. Interpreting others’ nonverbal cues can be thought of as listening with your eyes.Nonverbal cues often tell more about the audience’s true thoughts and feelings than do their words.When nonverbal cues do not match verbal communication, verbal communication is often ignored.Some common interpretations of nonverbal cues are:Crossed arms – closed-off or resistance.Hand under chin – decisions or analysis being made.Back of the neck scratch – has questions or concerns.Avoidance of eye contact – discomfort.It is important to be sensitive to cultural differences and aware of context in interpreting nonverbal cues so as to avoid misinterpretations.SPInterpret qualitative research findings SPInterpret statistical findings The purpose of analysing data is to obtain usable, useful information. To do this, it is important to determine WHAT we want analysed so that the correct data is collected. To find meaning in large amounts of data, data is grouped and summarized, and/or statistically analyzed (mean, median, mode, standards of deviation, frequency distributions, t-tests, regression, ANOVA, etc.)Interpretation is the process of attaching meaning to the collected information and determining the conclusions, significance, and implications of the findings. Patterns and relationships within the data are gleaned. The same data can be interpreted in different ways so to garner other interpretations discuss the data with stakeholders and consider the data from various perspectives. Think beyond the data but don’t stray too far. Focus on outlying data or data that seems to be the exception, as surprising, contradictory or puzzling data can lead to useful insights. Limitations must be disclosed with honesty.Students will reiterate the statistics they feel are pertinent in their analysis. PQInterview for a job Investigate the use of visual merchandisingMore professional-looking signageEvaluate shelving and other fixtures used in the store for replacement.Explore best practices from established leaders such as Canadian Tire, UAP/NAPACSLead change SPLeverage data to recommend personalized, relevant campaignsSmart brands know that the more personalized they can make their messaging, the more likely a customer is to respond to it. Today's savvy and skeptical consumers can detect a generic mass-marketing campaign from a mile away, so it's worth it to go the extra mile and tailor your ads and content to smaller, more specific consumer niches.By harnessing the power of data analytics, your brand can create a detailed plan for customer-focused marketing messages. Examples are to use First Name Personalization In Emails, Appeal To Customers' 'Culture', use interactive tools on the website, automate marketing, listen to the audience, look At Historical Browsing Data And Behaviors, use the audience demographics, implement IP detection software to get user information.Leverage data to support real-time customization of customer interactions (IM:473) (SP)SPLeverage personality types in business situations SPLeverage social networks for customer engagement SPMaintain a consistent brand voice in social content Maintain a positive attitudeIndicators of a positive attitude include:Smiling when appropriateExpressing the problem as solvable by proposing possibly solutions/options for the customerIncreasing the level of comfort in a stressful situationCSMaintain a safe work environmentParticipants should outline what a safe work environment entails. Factors to consider include:Layout of the location and associated risk factors to both employees and inventoryEmployee breaksLightingImplementing training programs for employees to learn and refresh essential safety procedures and precautions in the warehouseParticipants emphasize the value of a safe work environment with the following benefits:Less employee absenteeism due to injuriesLess damaged inventory Increased productivity and efficiency due to employees’ security and faith in the company’s ability to maintain a safe work environmentIncreased sales and revenue as less damaged goods are created and therefore less are being marked down, as well, higher productivity and efficiency may give the company the opportunity to expand delivery furtherThe company should also:train employees in conflict resolution, crowd controlhave sufficient staff on hand to service customerscontrol placement of inventory; deeply discounted, large or expensive items to be retrieved by store staffuse rope barriers to create pathways to keep traffic moving, channel customers and provide a queuing systemMaintain a strong connection to your businessA slogan should strongly relate to the product it promotes. It if doesn't, then it might catch people's attention momentarily, but it won't stay with them.It's best if there's a strong, interesting link between your slogan and your product. For instance, Aquafina's insistence that their water is "for happy bodies" makes good sense. Sunchips' claim to be "unique in every wave" distinguishes their chips from their less curvy competitors. Finally, Paper & Packaging Board's assertion that their products are at the heart of "how life unfolds" wouldn't make much sense for, say, a burger stand.Maintain an inventory of suppliesAccurate inventory count is (ultimately) a customer satisfaction issue.Managing inventory is essential to profitability: need to balance customer needs with the cost of maintaining inventory.PQMaintain appropriate personal appearance Maintain appropriate personal appearance (PD:002) (PQ) SPMaintain collaborative partnerships with colleaguesInternal human resource policies – must reflect societal norms/expectationsHonesty important – long-term relationships must be valuedIndividuals and companies do not work in isolation – must be a member of the business community locally and nationally/internationally - interdependentSocial responsibility to all stakeholders to work together to establish and maintain common goalsGoals – not just financial; must give back to environment in which firm operatesSPMaintain composure when receiving/delivering bad news SPMaintain customer recordsUse computer systems to collect and record all types of customer-related dataElectronic records provide history, purchase trends, service usage, multiple contact points, and other data that analytics programs can use to personalize each customer’s experience with the bank. Related services can be suggested to maximize the return on each client.Accessing customers by email, mobile, social media, (and not from walk-ins) is the norm. CSMaintain data security Establish strong passwords - use a combination of capital and lower-case letters, numbers and symbols and make it 8 to 12 characters long, avoid using:?any personal data or?common words change your password every 90 days, never share a password, and, never write it down. Put up a strong firewallInstall antivirus protectionUpdate your programs regularly - Frequently updating your programs keeps you up-to-date on any recent issues or holes that programmers have fixed.Secure your laptops - absolutely encrypt your laptop. Use encryption software which changes the way information looks on the hard drive so that, without the correct password, it can't be read.Secure your mobile phones - they hold so much data these days that they are like a company computer. Enable remote wiping.Backup regularly (weekly is recommended)Data-leakage prevention software, which is set up at key network touch points to look for specific information coming out of your internal network. It can be configured to look for credit card numbers, pieces of code, or any bits of information relevant to your business that would indicate a breach.Be careful with links carrying viruses arriving by e-mail, IM and surfing the Web.Educate your employees about safe online habits and a proactive defense.SPMaintain databases of information for marketing communications SPMaintain day-to-day content on social platforms CSMaintain displays PQMaintain financial recordsInventory must be accurately maintained so that the company has stock at all times, and so that it can report accurate financial data.A computer system tracks every inventory itemMinimum reorder points and supplier contact information is kept currentEvery received item is checked for damage, then scanned into inventoryItems are stored in the locations assigned to themThe receiving report is taken to accounting, and combined with the purchase order and invoice for paymentAll items leaving inventory are scanned outA physical count of inventory is taken at least once annually to verify its accuracy. Items missing from inventory could have been damaged or stolen. Obsolete items must be removed from inventory and written off.The value of the inventory account should be approximately its replacement valueSPMaintain information on marketing partners' activities (e.g., vendors, others in supply/distribution channels) CSMaintain inventory levelsExplain the significance of inventory control:Controls can ensure proper merchandise levels – so that businesses can reach sales goalsControls help to balance stock levels – inventory turnover information will help in making purchasing decisionsDetermine appropriate inventory control for nature of business – physical (periodic – taking a physical count on a periodic basis) or perpetual inventory system (track inventory daily basis)Setting appropriate levels of inventory will generally signal strong decision making on the part of the managers. Customers can see and purchase what they desire. The ability also to purchase goods that are not in the store (not ordered often) will signal strong management of inventoryStudents can suggest other methods of making inventory available (catalogue, internet)CSMaintain inventory of suppliesIt’s important to always have on hand sufficient supplies to run the business. Inventory turnover information (the rate at which the inventory is used) will help in making timely purchasing decisions and prevent having too much or too little inventory on hand. Computer systems can be used to tract inventory usage and/or a periodic inventory count can be used to keep records up-to-date. SPMaintain inventory-control systems SPMaintain marketing communications data security SPMaintain ongoing relationship with client SPMaintain order logs Maintain positive attitudeMaintain product qualitySPMaintain purchase orders SPMaintain security of marketing data CSMaintain the confidentiality of othersConfidentiality means not sharing sensitive information that you know with someone else. This means not disseminating the information within the organization, or outside the organization, and it means to protect and secure any information that has been printed (electronic or paper) and is being stored. These acts of professional courtesy are also part of displaying workplace etiquette and depending on the nature of the business could be against company policy. Failing to respect others' privacy can harm your personal and professional relationships, including being disciplined or fired on the job, or having you or your company taken to court for compensation. For the person whose confidentiality was breached, it could cause a myriad of reactions ranging from mild embarrassment to social ostracism. SPMake and record price changes SPMake client presentations (includes strategies and research findings) CSMake decisionsStudents may select any of the choices available. Ensure that students explain WHY they have selected the given alternativeMaking a good informed decision is not that different to sitting on a jury – all reasonable doubt has to be removed before you can pass a verdict one way or the other. Thankfully, though, corporate decisions are seldom a matter of life or death!Don’t judge a book by its cover - You may be someone who’s big on first impressions when you meet people but you can’t let the same thought process influence your decision-making. If on first hearing an idea strikes you as a really good one, you may well be correct, but you mustn’t allow that first reaction to influence your ability to objectively weigh the cons as well as all the pros when they are presented.Do your homework - Just because no significant cons are presented it doesn’t mean they don’t exist, so get someone on to digging them up and evaluating them while you still have the time – discovering them after you’ve launched the deal doesn’t do you any favours. Insisting that this homework is conducted becomes doubly important if and when everyone is unanimously in favour of going ahead with the project. Nothing is perfect, so work hard at uncovering whatever hidden warts the thing might have and by removing them you’ll only make it better still.Avoid making decisions in isolation - Every decision has some degree of impact on your ability to adopt other future opportunities in what the experts call ‘the decision stream’. This one may be a ‘too good to miss’ opportunity but how will it affect other projects or priorities and, if now is not the best time to do it, what risks if any are there in putting the thing on hold for an agreed period of time? If you cannot manage this project in addition to another that’s waiting in the wings, which one gets the nod and why?Do everything you can to protect the downside - All wise investors go to great lengths to do this with their stock portfolios and when setting up a new business you should try to employ the same strategies. Give it time - If you have the time to use the ‘orchestrated procrastination’ approach then do so. Without getting into the ‘paralysis by analysis’ mode, doing more rather than less homework on a project is seldom a bad thing. While looking at it more deeply you may find better alternatives or the marketplace may change.Making smart informed decisions is why leaders get paid the big bucks. There is really no science to getting it right every time which is why (unfortunately) decision-making is not a process that can be programmed to come in ‘just in time’ across the board.SPMake oral presentationsIs the student speaking professionally and communicating clearlyAre the indicators flowing into each other smoothlyIs the student speaking directly or are they reading from their notes CSMake responsible financial decisionsFor a business, the responsible financial decision is to maximize profit (although finance is not the only consideration when making a business decision – providing customers with products they want is important too!).To maximize profit, a company would:favour the products that have the highest marginfavour the suppliers that offer the best credit termsnegotiate better credit terms and credit limits when purchase volume increasestake discounts at every opportunitymake certain products are delivered intact before payingensure that the supplier provides prompt and reliable deliveryCSManage commitments in a timely manner SPManage the bid process in purchasing SPMeasure market size and composition SPMeasure media audience Refers to measuring how many people are in an audienceCould relate to radio listenership, television viewership, newspaper/magazine readership, or website traffic.Website traffic can be measured using software Many companies offer tracking software that can be as simple as counters that record the number of times a site is viewed, to more sophisticated tracking software that can track the habits of specific users.SPMeasure response rates SPMine databases for information useful in marketing communicationsData mining involves the extraction of implicit and useful information from databases. Data mining can predict consumer behavior, the psychology of the consumer behavior while shopping, influence of business environment on consumers and consumer motivation depending on the importance of the product. The products sold to consumers provide data on items how they are positioned. Data mining analyzes consumption patterns, and the association between one product and another. Customers can be segmented with associated characteristics as loyalty and other traits. Who the sales clerk is may have no bearing on usefulness of the data.CSModel ethical behaviorSPModerate social chats Monitor and evaluate the performance of a marketing plan.Monitor and maintain food-holding temperaturesSPMonitor and mine sales data (by volume, product, territory, channel, time period, etc.) SPMonitor communications plan SPMonitor competitors' activities SPMonitor competitors’ promotional efforts SPMonitor daily social-media analytics SPMonitor internal records for business informationProper inventory control is necessary to prevent loss.Inventory is an asset of the business that needs to be protected.Internal records provide the history of the business which helps to predict and plan for the future. Information is the foundation of controlThe emails and phone calls should be monitored. The results should be communicated to the employees that are not adhering to the policy and their managers. Employees that are not following the policy should be disciplined. This would entail being warned verbally once, written up at the second offense, suspended without pay at the third and fired at the fourth offense. This process may vary based on how the employees deal with these steps.Employees that adhere to the new policy should be acknowledged.This is a company that makes money by dealing with secure credit card information. All of the internal records (beyond emails and phone calls) should be monitored on a continual basis.SPMonitor merchandise classification system SPMonitor on-floor selling activities SPMonitor online brand and reputation CSMonitor projects and take corrective actions SPMonitor user-generated content (UGC) SPMonitor/measure customer “buzz” SPMotivate team membersMotivating people is a difficult task that is specific to the individual’s driving forces. Nine powerful ways to keep members motivated to do their very best on the job are: Pay your people what they are worth Provide them with a pleasant place to work Offer opportunities for self-development Foster collaboration within the team Encourage happiness Don’t punish failure Set clear goals Don’t micromanage Avoid useless meetingsSPNegotiate sales terms/agreement SPNegotiate terms with media owner SPNegotiate terms with suppliers SPNegotiate terms with vendors SPObtain and track information about domestic and foreign suppliers/manufacturers SPObtain information from customer databases SPObtain information from retail databases to aid in product planning and control SPObtain marketing information from online sources (e.g., search engines, online databases, blogs, forums, listserves, web analytics, social media, geolocation services, etc.) SPObtain marketing information from publications (e.g., newspapers, magazines--current trends, regulations, consumer issues) CSObtain needed information efficientlyStudents should make recommendations about how to collect the needed information in a timely manner. They should have clearly outlined methods for data collection and an understanding of how to do this without spending an unrealistic amount of money.Obtain publicitySPObtain samples CSOpen/Close register/terminal CSOperate register/terminal Organize and communicate knowledge, ideas and concepts effectively for the area of business ethicsCSOrganize information CSOrient new employeesWhen new employees are hired, it is important they complete an orientation process. This is used to introduce them to the business’s culture, brand and ways of working. It is also an opportunity for the business to communicate its expectations based on accountabilities, customer service, quality, etc. Orientation also involves training new employees on how to do their jobs. The participant may discuss the role of the person assigned to training new employees. Providing new employees with an opportunity to shadow other employees doing the same jobProviding new employees with training on any equipment they are required to operate including POS systems, computer-based systems for entering customer orders and making table reservations, etc. The participant may also provide additional examples of what will be included in new employee orientation at this company Once a candidate is selected, the most basic part of training is employee orientation through which employees get acquainted with company policies and programs, personnel with whom they will interact, and the nature of the job.This probationary period can last between 2-4 weeks.Mentors may be assigned within a relevant department to assist the new employee through this process.Staff in each area are to implement training.A “Train the trainer” program might be needed here to implement a larger scale training program.With respect to orientation and training programs it is important to make new employees feel valued and welcome to familiarize them with the working environment.Orientation commonly includes the following:Tour of the Company Discussion of the company’s history, mission and valuesDescription of what the company doesTraining on use and routine maintenance of equipment such as cash registers and rmation about payroll, benefits and company policies.Determine how training will be delegatedOvercome customer objectionsCSOvercome problems and difficulties associated with office politics/turf warsThe participant may demonstrate their ability to overcome problems and difficulties by:Showing an understanding and respect for the roles and responsibilities of various team members within the organizationDemonstrating an awareness of team dynamicsExhibiting strong communication and leadership skillsDemonstrate assertiveness SPOversee fulfillment/completion of sale CSPack and wrap purchases CSParticipate as a team member CSParticipate in a staff meeting SPParticipate in community outreach munity outreach programs are a standard way for groups to identify a certain specific need in its community and provide services to the people who need it. The participant should adequately explain the outreach activities that Venture will involve itself in and what its role will be. This performance indicator is linked to the previous one and should go on to explain Venture’s role in the community issues proposed. A detailed response should be given by the participant.CSParticipate in group discussions CSParticipate in problem-solving groups SPParticipate in the design of collateral materials to promote special eventThe term "collateral" specifically referred to brochures or sell sheets developed as sales support tools. These sales aids are intended to make the sales effort easier and more effective.SPParticipate in trade shows/expositions CSPay bills SPPersuade othersIs the student convincing Are they able to back up their decision with facts from the caseConvincing – do presenters believe their own roleConsistent ideasSPPitch marketing communications idea to client SPPlace merchandise for impact CSPlace orders/reorders Plan and organize the work efforts of othersSPPlan follow-up strategies for use in retail selling SPPlan follow-up strategies for use in selling Plan holiday food promotionsSPPlan merchandise assortment (e.g., styling, sizes, quantities, colors) MNPlan product mixIn the case of a newly established, independently owned, fast food restaurant, the owner has already decided on the main categories of the product mix. Our job is to suggest the specific items. The main thing to keep in mind is that we are not selling a variety of different items, but rather a selection and collection of items that reinforce the image of healthy eating. Even the items we list on our menu can include terms like “low fat”, “diet”, “low calorie”, etc. The image is very important (we want to sell the sizzle, not the steak). The conditions established by the owner are to help reduce food waste. The general food categories have already been provided (fast, fresh sandwiches and soups, low-fat alternatives, some sides and beverages). Most of the customers would likely be people with average to higher incomes that have the ability as well as the desire to pay a little more in order to get what they want. This suggests we should try and get more “upscale” items. This is more likely with the soups. An example would be to have something like “Butternut Squash with Cinnamon”, instead of something that sounds plainer.CSPlan projectStep 1: Identify & Meet with Stakeholders - It's important to remember that stakeholders aren't only the people who hired you to manage the project; a stakeholder is anyone who's affected by the results of your project. That includes your customers and end users, too. Make sure you identify all stakeholders and keep their interests in mind when you create your project plan.Meet with the project sponsors and key stakeholders to discuss their needs and expectations, and establish baselines for project scope, budget, and timeline. Then create a Scope Statement document to finalize and record the details of the project scope, get everyone on the same page, and reduce the chances of costly miscommunications. Here's a Scope Statement Template to get you started.Step 2: Set & Prioritize Goals - Once you have a list of stakeholder needs, prioritize them and set specific project goals. These should outline the objectives of the project — the benefits you hope to accomplish. Write out your goals (and the stakeholder need met by each one) in your project plan so it's clearly communicated and easily shared.Step 3: Define Deliverables - Identify the deliverables you need to produce in order to meet the project's goals. What are the specific products you're expected to complete?Next, estimate due dates for each deliverable in your project plan. (You can actually finalize dates when you sit down to define your project schedule in the next step.)Step 4: Create the Project Schedule - Look at each deliverable and define the series of tasks that need to be completed in order to accomplish each one. For each task, determine the amount of time it will take, the resources necessary, and who will be responsible for its completion.Next, identify any dependencies. Do certain tasks need to be completed before others can begin? Input deliverables, dependencies, and milestones into your Wrike Gantt chart, or choose from the many online templates and apps available.Step 5: Identify Issues and Complete a Risk Assessment - No project is risk-free, and you won't do yourself any favors by crossing your fingers and hoping for the best. Are there any issues that you know of upfront that will affect your project, like a key team member's upcoming?vacation? What unforeseen circumstances could create hiccups? (Think cold & flu season, backordered parts, or technical issues.)Consider the steps you could take to either prevent certain risks from happening, or limit their negative impact. Conduct a risk assessment and develop a risk management strategy to make sure you're prepared.Step 6: Present the Project Plan to Stakeholders - Explain how your plan addresses stakeholders' expectations, and present your solutions to any conflicts. But make sure your presentation isn't one-sided; it should be a discussion.You'll need to determine roles: who needs to see which reports, and how often? Which decisions will need to be approved, and by whom?Communicate clearly. Make sure stakeholders know exactly what's expected of them, and what actions they're responsible for. Just because it's obvious to you, doesn't mean it's obvious to them.SPPlan purchases SPPlan reductions (e.g., anticipated markdowns, employee/other discounts, stock shortages)Pricing strategies including flexibility and discriminationSuggested retail priceCash payment discountsSeasonal pricingVolume purchases - promotionsMarketing campaigns and strategiesSPPlan special eventThe participants will have varying answers as to what special event they put on, however participants should demonstrate creativity and present a thoroughly developed idea (include budget, schedule, measure of success, staffing requirements, proposed impact, etc.)Advertising, including where it would be placedStock levels on handNumber of employees requiredHours of the special eventWhether rain checks will be availableSecurity personnelDescription of the event – what are the specifics of the sale, which departments, what prices/promotions, etc.SPPlan stock If too much inventory is purchased, items will have to be stored, sold off at a loss, or may be outdated or obsolete by the next selling season. The storage of items is an unwanted cost.If too little inventory is purchased, items will sell out and result in disgruntled customers who may not return.Make certain merchandise arrives well before it is advertised.Know how many items can be stocked, displayed and sold.Buy merchandise that will be desireable for more than one selling season.Find out whether there’s sufficient lead time to re-order mid-season.Plan store/department for special eventParticipant may incorporate some of the following:Staffing for the day: numbers, type of staff availableSafety precautionsTraining re safety precautionsConflict resolutionDetails of the promotionSPPlan strategies for meeting sales quotas. First the presenter should set a quota or sales objective for the winter months as it is not given in the case Strategies may include changes in the 4 P’s (Product, Price, Promotion, Placement)Lower the pricing as a special promotion during winter months will attract a greater amount of customers yet will continue to make profits for the company Presenters should be specific and have a specific pricePlan tourist destinationsPlan visual merchandising activitiesSPPlan/Schedule displays/themes with management SPPost marketing research results electronically CSPrepare a résumé Prepare a store/department for a special eventSPPrepare and use presentation software to support reports SPPrepare and/or assemble sales materials PQPrepare bank account documents (e.g., checks, deposit/withdrawal slips, endorsements, etc.) CSPrepare cash drawers/banks SPPrepare contact reports Prepare for the sales presentation.Prepare invoicesParticipants should demonstrate knowledge of complete and accurate invoices by first recognizing that the given invoice has inaccuracies and then identifying errors by preparing a new invoice that includes the missing/inaccurate information. Items of concern on the existing invoice may include:Incorrect business name and zip code under Ship To – may cause the shipment delaysTotal amount for blue t-shirts should be $24 as opposed to $28 which changes the Total DueUnit price of sweatshirts not included on the invoice and therefore cannot be verifiedCSPrepare personal income tax forms (i.e., 1040 EZ form) Prepare sales analysis reportsSPPrepare sales presentation SPPrepare sales reports SPPrepare simple written reports SPPrepare store/department for special event SPPrepare written reports for decision-making Present analysis and resolutions in an organized and well thought out mannerUse a decision-making model to create a solutionExample:Define the problemGenerate and evaluate alternative solutionsSelect a preferred solutionImplementationEvaluationSPPresent findings orally SPPresent proposal Present report findings and recommendationsSPPre-test promotional campaign (e.g., advertising, direct marketing, etc.) CSPrice mark merchandise CSProcess incoming merchandise SPProcess retail sales documentation CSProcess retail telephone orders CSProcess returned/damaged product CSProcess returns/exchangesHow returns and exchanges are processed currently, and what changes should/ could be implemented needs to be addressed. The current process gives the customer a return shipping label automatically and without question. The problems with this are inherent and obvious in the ease this gives the customer in fraudulently ordering items just to reach the $25 limit. However changes have to help to limit the irritation level for the customer without losing the customer altogether. What records are kept on which, or how many, customers are returning partial orders regularly? Is it widespread, or select few customers? Do we have stats on how many customers in total, or on specific customers who are repeat offenders?SPProcess sales documentation CSProcess sales transactions (e.g., cash, credit, check, etc.) CSProcess special orders CSProcess special orders for retail sales CSProcess telephone orders SPProof ads SPPropose community issues for company involvementThe participant may discuss a variety of possible issues for Venture to involve itself in. There should be a clear rationale for the issues recommended. For example, if local families were affected, they may want to look at local issues. The participant should demonstrate logic and creativity in his/her suggestions.SPPropose solution to prospect’s needs/challenges (sales talk, sales proposal presentation) SPProspect for customers CSProtect against identify theftMeasures must be in place to limit access to card information – passwords, limited access, logins, firewalls, tracking of access, POS – well secured to prevent unauthorized access.Training of workers is most important – an understanding of their role in handling of credit/debit cards is vital.Adherence to all legal requirements with respect to data management.Participant could mention any of the above information as it relates to this case.CSProtect company information and intangiblesCompany information and intangibles includes computer data and intellectual property (company secrets).Firewall Software - Firewalls are used to block and prevent unauthorized access to computer files. Firewalls prevent unwanted visitors from entering a computer system to use files, gain personal information or destroy computer data. A good firewall should be part of a company’s computer system.Allow employees access to information which is job related only – block everything else. Any file that contains a credit card or client number, for instance, can be automatically tagged with restrictions that encrypt it when it's put on a USB drive. Or, if that same information is shared within a company, the applicable rules might prevent those who see it from cutting and pasting any of the names and addresses.Monitor data as it flows in and out of networks--including through USB ports, e-mail, file transfer protocol and Web browsers. Also monitor data leaving a company's network, blocking the movement of sensitive data or encrypting it.Install software that classifies data by modeling their movement and watching for anomalies that might be signs of penetration or insider misbehaviour.Simple and effective internal threat management procedures can help prevent employee information leaks from happening to the bank. This will protect the company’s most confidential and valuable information from being exposed to unauthorized partiesBe aware of where critical corporate data is located and who has access to the dataDevelop an acceptable use policy for all employees that outlines appropriate use of corporate assets, information and intangible assets. This policy should outline company procedures when a violation takes placeConsistently enforce policies and procedures and revise as requiredEnsure there is an internal incident response plan and that the appropriate resources are available in-house to handle information loss or access by unauthorized employees or outsiders.Provide directions for completing job tasksThe student as human resources manager is to outline a set of directions to complete the job tasks. This might include:Instructions to assess employees needed to work the eventHiring processInstructions for orientation and training of new and existing employeesInstructions to evaluate and to reward employeesInstructions to identify employees you may wish to hire for other events in the future.Give clear directionsBe consistentTreat employees fairlyBe firm when necessarySet a good exampleDelegate responsibilityFoster teamworkBe ethicalSPProvide information about incoming merchandise to sales staff PQProvide legitimate responses to inquiries.Emails need to be responded to in a timely fashion—some of the emails might be about an emergency situationAll emails should be looked at three times a day—this is a priority for the businessPerhaps a new person needs to be hiredA plumber may need to be called for explanations about the content of the email. If the office assistant cannot answer the email accurately, he/she should have access to a plumber to ask for helpResponses to emails must be done accurately and quicklySPProvide post-sales service SPProvide sales analysis reports SPProvide service after the sale SPQuestion/probe to acquire understanding of prospect [priorities, problems, trends, issues, corporate aims and objectives, processes, buying process and criteria, and trading preferences] PQRead and reconcile bank statements SPRead media schedule SPRead/Implement planograms PQRecognize and overcome personal biases and stereotypes CSRecognize and respond to ethical dilemmasThe nature of ethical dilemmas is that the ‘‘right thing to do’’ is not immediately or even eventually clear. These dilemmas are problems because their resolution is neither simple nor easy and they must be confronted under time pressures as well as conflicting financial and political demands. Often the ‘‘right answer’’ comes with a price tag. Moreover, in many instances, the crucial factors underlying the dilemma are not immediately obvious. So, how can individuals better resolve these dilemmas and reduce their chance of making a mistake that they will later regret? As in many areas of life, we often fail in ethics, not because we don’t know the right answer, but rather fail to ask the right questions. To tackle ethical dilemmas and avoid making ethical mistakes, executives, managers, and professionals can use the following five questions, which, while they will not guarantee making the right decision, can help prevent making the wrong one. They are:What are my self-interests in this situation and how might they influence me? Self-interests are a natural part of human nature. They are neither necessarily good nor bad but should be acknowledged so as to prevent you from doing something unethical.What are the interests of others and the larger society and to what extent should I take them into consideration? What would lead to the greatest good for the greatest number and to what extent should that be my predominant criterion in this situation?What principles and values, laws and regulations, policies and procedures, or socially appropriate behaviors do I need to consider? Are the relevant principles or processes more important than outcomes? Am I willing to apply those same principles to myself regardless of the personal consequences?In my job or role, my personal or professional relationships, or as a member of the larger society, what are my obligations to others? How should the principle of reciprocity apply? Are my obligations sufficiently important that I would be willing to sacrifice my self-interest, a fundamental principle or the greater good?What is in my long-term best interest and that of society in general, and how can I simultaneously meet both those commitments? Where do my long-term interests and those of others intersect, and is there a decision or action that might satisfy both?The challenge, having asked these five questions and considered their implications, is to understand and minimize any inherent conflicts among the values and obligations that they underscore. This can be addressed by focusing on three criteria for resolving such value conflicts primacy, balance and acceptance. Primacy asks, ‘‘Which questions are most relevant to the values that are important to you and your organization in this situation?’’ Balance encourages seeking the best tradeoff if you must compromise among values. Acceptance asks, ‘‘How well will your decision and its underlying rationale likely hold up under public scrutiny?’’PQRecognize personal biases and stereotypesA bias is defined as prejudice in favour or against one thing, person, or group compared to another.A stereotype is defined as a widely held but fixed and oversimplified idea of a person or thing.Everyone views the world and makes decisions based on their lens of personal biases and stereotypes.Awareness of personal biases and stereotypes, and those held by international clients for or against you, can make international business interactions and transactions more comprehensive.Recognize procedures for handling robbery situations Recognize sources of business financingRecognize/reward employeesStudents are to outline ways to:Recognize employees i.e. a plan to implement an easy to use employee evaluation system. Supervisors to grade employees who are direct reports.Reward employees i.e. bonus for quality efficient workExplain that you appreciate and value the business that they incurSURecognize/reward others for their efforts and contributions Develop a comprehensive plan for recognizing contribution so there is consistency Be clear about the behaviours that are desired and be prepared to reward themProvide a small monetary thank you if possibleOffer flexibilityBe genuinely, and specifically thankfulCreate a fun traditionProvide a status symbolProvide meaning to support the effort/contributionSPRecognize/Reward others for their efforts and contributions.Every employee working at your workplace – from a simple technician to a richly experienced manager expects you to recognize his/her work and appreciate the efforts he/she puts in day after day for the success of your business. Employee recognition and rewarding is a process through which employers or business owners make a conscious effort to reward and award your employees not just to acknowledge their work but also to motivate them to continue with the same passion.Employee recognition is the acknowledgment of an employee’s efforts, hard work and behavior at the workplace that have contributed to the organization’s success and objectives in some way. Both things are very important: recognizing and acknowledging these efforts, as well as rewarding employees for their fruitful efforts. Here are some ways in which you as an employer or business owner can recognize the efforts of your workplace and reward them accordingly:Day-to-day recognition – It is important to motivate and encourage employees to perform well on an everyday basis and not just on a periodic level. For example, small words of praise, little words of encouragement and constant motivation are highly important to make your employees feel encouraged for their efforts and to maintain a positive flow of the workplace rmal recognition – Informal recognition is the kind of recognition which includes gestures of encouragement and appreciation. A pat on the back or a word of praise in front of the team can go a long way in boosting the morale of the employees.Formal recognition – Formal recognition is usually in the form of rewards for service, contribution, and achievements. These recognition forms also include events held for the celebration of achievements. Formal recognition often has some legal and policy requirements.Some forms of rewards are recognition (a plaque, certificate, company newsletter etc), promotion, a gift, or cash incentives which might include profit sharing. Recommend a specific product.Recommend specific destinations and travel services to travelersCSRecommend specific product Reconcile shipping/receiving discrepanciesRecruit new employeesRecruitment involves:Developing accurate job descriptionsCompiling a “success profile” of the ideal employee for the positionAdvertising the job position and key qualifications requiredDeveloping a series of phone/preliminary screening questionsReviewing the resumes received and identifying the best candidatesScreening candidates by phone/preliminary interviewAssess potential candidates for their skills and attributesSchedule and conduct in-person interviewsSelect the candidateRun a background check on the individualMake your offer to the candidateCSReinforce service orientation through communication employees must make it clear to customers that they want to help them; the whole experience must be positive. The customer comes first.open communication from customer – employees – management (full circle)customers can be given opportunity to fill out comment cards/on-line surveys, perhaps with chance to win something/discountstrain staff in proper customer service techniques, including greeting customers, asking to assist them, dealing with difficult or contentious issues/people, etc.customer service training, tips and messages to take place on on-going basis in staff meetings, employee newsletters, employee bulletin boardsemployees also be given chance to fill out feedback forms, surveys, suggestionsPQReport noncompliance with business health and safety regulations CSReport out-of-stocks CSResolve problems with incoming shipments PQRespect the privacy of othersStudents may mention that there are laws governing information and personal privacy. Privacy?allows us to be ourselves, to think and act without the presence, interference or judgment of?others.?Privacy?is important to everyone, but especially to those who need support with their personal care, finances and recreation choices.To respect the privacy of others, people should:Knock and wait for permission to enterLeave people's mail and email unopened, and diaries, journals, notebooks and so on, unread.Make sure that privacy and modesty is respected during people's dressing, toileting and bathing times.Ensure that people with visitors are left alone to have that time together.Refrain from intruding on people when they are clearly spending time alone by choice.Respect confidences that have been shared with us, unless keeping silent puts someone at risk.SPRespond appropriately to prospect's individual personality type CSRespond to customer inquiries when responding to clients, it is important to use effective listening techniques such as:identify the purpose of the messagegive feedback to show understandingask appropriate questions to gather more informationlisten for verbal cuestry to satisfy the customers/clients’ need as quickly as possibleCSRotate stock CSRoute stock to sales floor SPScan marketplace to identify factors that could influence merchandising decisions.Other factors that can affect our decisions:Competition in the areaOnline greetingsDIY card making packages availableEthnic/cultural makeup of the community – do they send cards, which seasons are celebratedSPSchedule ads and commercials Select a target marketSelect advertising mediaParticipant demonstrates an knowledge of advertising media (four categories: print, broadcast, online and specialty)Participant outlines a media plan with rationale for each medium selected.Will this combination of media selected be effective in reaching the teams target market?Did the participant provide cost/budget considerations for the advertising selected?SPSelect and use appropriate data support systems CSSelect and use appropriate graphic aids SPSelect and use display fixtures/forms CSSelect and utilize appropriate formats for professional writing Typical formats include emails, letters, forms, reports and proposalsIn addition to email, and mail, written communications also include social mediaAre written for a limited number of purposes, usually to inform (to share information) and to persuade (to build goodwill with superiors, colleagues, and customers)State a main idea and develop it with more specific verbal and/or graphic details. Memos are brief, limited in scope, and to the pointAre written in a polite, respectful, formal toneUse conventional paragraphs AND bulleted lists, headings/subheadings to make information easy to find and to readUse formal grammar, punctuation, spelling, and check that the content conveys the exact meaning SPSelect placement of advertisements Select product-mix pricing strategies (product line, option-product, captive-product, by-product, product bundle)Select promotional pricing strategies used to adjust base pricesSPSelect sample sources in marketing research Select strategies for delivering promotional materials to prospective travelersSelect strategies for maintaining/building fan supportMNSelect target marketSPSelect vendors Set your criteria. ...Define your process. ...Call for bids. ...Evaluate the bid submissions. ...Monitor the supplier performance.Vendors/suppliers must provide:ReliabilityProvide qualityValue for money (strike between cost, reliability, quality and service)Strong service and clear communicationFinancial security (check their credit to ensure they won’t go out of business)A partnership approach - You want your suppliers to acknowledge how important your business is to them, so they make every effort to provide the best service possible. And you're more likely to create this response by showing your supplier how important they are to your business.You can find suppliers through a variety of channels:Recommendations - ask friends and business acquaintancesDirectoriesTrade associationsBusiness advisorsExhibitionsTrade pressMake sure you know what you need. Don't be tempted by sales pitches that don't match your requirements. Understand the difference to your business between a strategic supplier, who provides goods or services that are essential to your business - such as high-value raw materials - and non-strategic suppliers who provide low-value supplies such as office stationery. You will need to spend much more time selecting and managing the former group than the latter.Spend time on researchAsk aroundCredit check potential suppliersPrice isn't everything - reliability and speed, for exampleAgree on service levels before you startDon't buy from too many suppliers - it will be easier for you to manage - and probably more cost-effective - if you limit the number of sources you buy from. This is particularly the case with low value-added suppliers....but don't have just a single supplier – so you have an alternative supply source ready to help in difficult timesSell a venueDid the participant discuss the importance of the promotional mix to sell a venue? These techniques could include advertising, sales promotion, publicity, personal selling, direct marketing.This discussion might include the following:Target market awareness of new educational programsFacilitate prospect trial of new programsHow to create a customer demand and preference for these programsReminder advertising for these programs once program awareness is createdDid participant select and justify specific examples of techniques to be used to sell the venue? These might include presentations, meetings, brochures, videos, direct-to-home, e-commerce etc... CSSell gift certificates SPSell good/service/idea to groups SPSell good/service/idea to individuals SPSell ideas to others Selling an idea involves showing others how your idea will make the “after” better than the “now”. To do this, one must be short and crisp without extra verbiage and you must appeal to the person explaining why the idea has value to that person.Decision makers aren’t really interested in your idea—at least?not on its surface. They’re really interested in its underlying value and?what it can do for them and the end userListen to the end users, clients and?managers as we begin developing ideas—but it also pays to carefully?listen to decision makers before and during the idea presentation.Know your business and your productKnow the overall plan, but don’t get bogged down in too many details.Believe in the plan and you can sell it. SPSell ideas to othersSell sport/event sponsorshipsexplain benefits of relationship between PGA and Cadillacexplain importance of PGA tournaments in the world of golf and the audience it attractsexplain the history of the PGAdetail the symbiotic relationship between sponsorship and sportsSPSet confidence levels Set event pricesCSSet financial goalsHaving multiple goals is common, including a mix of short- and long-term goals. For example, a long-term goal would be to "retire at age 65 with a personal net worth of $1,000,000," while a short-term goal would be to "save up for a new computer in the next month." On a short-term basis, families will set a monthly budget to track spending and saving. The actual amounts spent are evaluated monthly and refined. Setting financial goals helps to direct financial planning. Goal setting is done with an objective to meet specific financial requirements. For long-term goals, families will start with the end by determining how much needs to be saved. Using a conservative rate of return and the help of a financial planner or calculator, the total is divided into monthly amounts so that saving can be done on an ongoing, regular basis.MNSet marketing goals and objectivesNeed a clear understanding of the purpose. What is to be accomplished.Must know what the measurable results will be. For example, the program will increase sales by 10%.Most important is being able to measure the results. In other words, if sales do increase, how do we know it was because of our marketing program and not some other factor?CSSet personal goals Set pricesSet sponsorship objectivesto expand your audience beyond your fan baseto raise funds and obtain products to be used before/during/after the eventto promote the event as well as the productto develop relationships between the sport and the sponsoring organizationto increase revenue and profitto give profile/image to the companySPSet up cross-promotions SPSet up point-of-sale displays and handouts Show customers fashionable ways to accessorize garmentsPQShow empathy for othersEmpathy is defined as the ability to understand and share the feelings of another. Thus, an empathetic student will try to directly relate to the customer’s feelings. Empathetic comments might include:I understand how important this is to youAcknowledge the frustration that the customer must be feeling.Explain that you too would be frustrated and upset if this happened to you. It is important that businesses anticipate possible problems and explain to the customer the steps that they can take to resolve the issue.Present in a positive way all of the things that the store will do to resolve this issue.SPSolicit feedback The only way to really find out whether your customers are happy, and what they might be unhappy about, is to solicit feedback from them. And the more channels through which this feedback can be taken, the better – as each one has different limitations in terms of the honesty and detail that will be expressed.Face-to-face feedback - There are many ways to get feedback from customers; some can start in the restaurant. Once the customers are present the staff then become the face of the business as they are the ones that the customer will remember as they leave their feedback. Social media - Social media is an invaluable tool for getting feedback. If you inform your customers of a restaurant’s pages on various social media sites, they can easily get in touch and leave feedback or reviews. Many diners will be more likely to leave reviews on social media given the centrality of these sites to their lives and, of course, their accessibility. Social media is especially attractive for customers because they know that they will get a response. Feedback forms - The company website is a great point of contact for customers. Having a feedback box on the website is a convenient place for customers to find a direct way to contact the restaurant. Having the feedback box on the website is also useful to encourage one time visitors to the restaurant and returning visitors to leave feedback. Through this, the business can get views on customers’ experiences at the establishment and – equally as important – the owners can get feedback on the workings and usability of the website too. Tablet feedback systems - Mobile EPOS systems are becoming more common in restaurants and can be useful for gathering feedback. When there is a tabletop ordering system it can give an option to complete a feedback survey at the point of payment. This creates a no-fuss option for the customer to give feedback, as they do not have to complete any extra steps to give their opinion. These methods of feedback can be made fun for the customer as a type of mini-game. while the use of incentives to encourage them to complete the surveys will reward them for their effort. Another way that technology is being used to encourage customers to give their feedback is the use of specially designed kiosks located near the exit of the establishment. These again can be made into a fun mini-game to encourage customers to leave their feedback as they leave. Feedback from online customers - For those businesses that offer online ordering, there is another great opportunity to ask for customers’ thoughts on the service they received. Once the transaction has been completed and the customer has either picked up or had their item delivered, a follow-up email with links to a survey asking the customer how they rated the experience is a useful way, particularly for takeaway restaurants as they don’t have another point of contact with the customer if all exchanges with the customer are either by phone or online.Though it’s important not to bombard your clients with too many requests for comments and feedback, it is clearly essential for any successful business to know what their customers are happy or unhappy about. Setting up a range of different feedback channels will ensure that a wide and detailed set of customer feedback is collected. And this task will never be completed – businesses should continue to gather – and act on – feedback from consumers for as long as they wish to remain successful.Solicit funds for an eventCSStore information for future use CSStore inventory SPTabulate data PQTake responsibility for decisions and actionsTake ownership for the customer experience, and avoid placing blame even if they were not directly responsible for the eventAssure the customer that they are committed to finding a solution that will ensure they are satisfiedApologize that the customer’s expectations were not metSPTest alternatives (e.g., web pages, ads, appeals, etc.) SPTest for associations SPTest for relationships SPTest for significant differences SPTrack channel management cost data Track cost dataSPTrack environmental changes that impact a business (e.g., technological changes, consumer trends, economic changes, regulatory changes, etc.) CSTrack invoices SPTrack performance of promotional activities SPTrack stock by location for department/class/vendor level SPTrack trends (e.g., social, buying, social media, advertising agency, etc.) SPTranscribe conversations/interviews SPTransfer stock to/from branches SPTranslate research findings into actionable business recommendations PQTreat others fairly at work PQTreat others with dignity and respect CSUse an information system for order fulfillment CSUse an integrated business software application package SPUse analytical software (e.g., SPSS, SAS, Excel, etc.) SPUse analytical tracking tools SPUse analytical tracking tools for marketing communications PQUse appropriate assertivenessBeing assertive means being able to stand up for your own or other people’s rights in a calm and positive way, without being either aggressive, or passively accepting ‘wrong’. Assertive individuals are able to get their point across without upsetting others, or becoming upset themselves.PQUse basic operating systems Use communications technologies/systems (e.g., e-mail, faxes, voice mail, cell phones, etc.)PQUse conflict resolution skillsThe participant may demonstrate conflict resolution skills by:Clearly communicating the company’s policies and proceduresEffectively listening to the customer/employee’s concerns and questionsResponding appropriately to the customer/employee’s concerns and questionsActively seeking a solution that both parties are satisfied withIdentifying when an approach or proposed solution is not working and suggest other possibilities to solve the problemIt is important to listen carefully to all sides of a situation.Conflict can be constructive if handled properly. A customer could have just moved their business without telling you and giving you an opportunity to fix the situation.Where appropriate, work collaboratively with the staff to brainstorm possible solutions to the problem. This way the staff will buy in to the solution. As well, they may have some clever and creative ideas to solve it.Conflict can be avoided if steps are taken early in a discussion to diffuse anger and facilitate communication, and it can be resolved by applying a series of thoughtfully applied steps. Here are some examples of conflict resolution techniques:Stay calm. The thing that leads to conflict is escalation. What starts people escalating is their anger. Most of us stop listening to understand as we get angry. Instead, we start listening in order to argue back.?Listen to understand. The only way to settle a dispute or solve any kind of a problem is to listen carefully to what the other person is saying.Accentuate the positive. It is important to find some commonalities, or create them, between you and the person on the other end.?State your case tactfully. The key here is to help people understand your perspective on things without making them defensive. To the extent you can disarm them, they will be more able to hear what you are really saying. Attack the problem not the person. Your points will be heard more clearly if you can depersonalize your comments and point only at the issue.Focus on the Future, Not the Past. Rather than focusing on what went wrong or who should have done what, the secret to dispute resolution is to treat it like problem solving and focus on what can be done to resolve the problem. Once that is done, companies can look to the past tense to analyze what went wrong and how to improve quality control and efficiency.SPUse consensus-building skills SPUse cross-merchandising techniquesThe participant should understand that cross-marketing means the selling of one product that allows a discount on a different, but related product. The use of product placement and visual merchandising increases interest in product offerings.SPUse data visualization techniques (e.g., infographics, linked charts, etc.) SPUse lighting to highlight products Use networking techniques for professional growthSPUse networking techniques to identify employment opportunities.Conduct informational interviews with your contacts and ask for referrals and for additional meetingsFollow through with referrals, and always thank contacts in writing (email is fine)Create an inventory of your accomplishments, as a company, including your employment history, stability, profitability and opportunities for improvement. Keep these at hand should a chance encounter become a contactMake a list of the assets you will bring as a prospective employerBring business cards and a penWrite some notes so you'll remember the details on who you have just met on the business cards you collect or in a notebookWhen networking online, keep track of who you've emailed and where you have posted so you can follow upSPUse power appropriately Use proper grammar and vocabularyCSUse social media to enhance customer post-sales experience SPUse social media to solicit new ideas and solutions SPUse software to automate services SPUse statistical inferences to make estimates or to test hypotheses SPUse time-management skills PQUtilize job-search strategiesWhen conducting a job search, the initial step is to have a clear definition of what type of employment you are looking for. For example, if one is looking for an accounting position, what kind of accounting do they want to do? A person may wish to pursue a position in audit / tax or perhaps personal accounting. The search itself may follow after the search has been defined. Utilizing contacts is one means of a search; a person may develop contacts through attendance of networking events. These events can allow a person to develop relationships with others in the field and obtain specific advice. Accurately selling oneself is essential. When it comes to online profiles i.e. LinkedIn, it is important that credentials and work experience information are up to date. Doing so ensures that you attract the desired potential employersSPUtilize merchandising software CSUtilize note-taking strategies SPUtilize professional development opportunities in marketing (e.g., continuing education courses, certifications, journals, online activities/courses) SPUtilize quality control methods at workParticipant’s answers may vary however responses should relate to the previous performance indicator regarding the crucial elements of a quality culture.CSValidate credit historyCustomer has never been past 10 days past due on any debtsConsistently paying a Visa and MasterCard bill, therefore building a credit historyCSVerify accuracy of bills CSWrite a follow-up letter after job interviews CSWrite a letter of application SPWrite a press release CSWrite business letters SPWrite content for use in social media SPWrite content for use on the website SPWrite copy for advertisements SPWrite direct mail lettersDirect mail letters are flyer or other types of printed advertisements mailed directly to customersDirect mail is beneficial because it allows a company to select its audience and personalize its messageThe letters should be clear, creative and relate to a selected target marketSPWrite e-mail marketing copy SPWrite executive summaries SPWrite executive summary of research report CSWrite informational messagesStudent is to explain what an informational message is and to provide an example.For an effective informational message the message is presented clearly and concisely so that the listener or reader can understand it easily.Basic considerations when writing the message might include:Know your audienceKnow your purposeKnow your subjectCSWrite inquiries SPWrite mobile marketing content SPWrite new-business pitches SPWrite persuasive messages Presenters may come up with a specific message/slogan that they will use to persuadeMay speak about the importance of including persuasive messages in a presentationSPWrite pitch/sales letters SPWrite product/service proposal CSWrite professional emails Write promotional messages that appeal to targeted marketsSPWrite purchase orders SPWrite white papers ................
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