Exam (elaborations)
BUSA 1105 FINAL STUDY GUIDE
- Course
- Institution
BUSA 1105 FINAL STUDY GUIDE
[Show more]
Content preview
BUSA 1105 FINAL DTUDY GUIDEHR Management - Answers-All actions that an organization takes to attract, develop,
and retain quality employees.
Job analysis - Answers-identify the tasks, responsibilities, and skills of a job, as well as
the knowledge and abilities to perform it.
Recruiting - Answers-identifying suitable candidates and encouraging them to apply for
openings
internal recruiting - Answers-the process of developing a pool of qualified job applicants
from people who already work in the company
internal recruiting examples - Answers-bulletin boards, newsletter, direct
recommendation
external recruiting - Answers-the process of developing a pool of qualified job applicants
from outside the company
external recruiting examples - Answers-linkedin, facebook/twitter, job fairs
Discrimination laws - Answers--prohibit discrimination in employment based on race,
gender, religion, etc
-increases fairness
Target Market - Answers-Specific group of customers who should be interested in your
product, have access to it, and have the means to buy it.
Consumer Market - Answers-System that allows us to purchase products, goods, and
services.
-you make your own decisions about how you will spend your money
Industrial Market - Answers-organizational market consisting of firms that buy goods
that are either converted into products or used during production
marketing strategy steps - Answers-1. defining the target market
2.determining the strategic positioning
3. developing an appropriate marketing mix for each target market
Market Segmentation - Answers-Dividing a market into distinct groups of buyers who
have different needs, characteristics, or behaviors, and who might require separate
products or marketing programs
, demographic - Answers-having certain characteristics in common, such as age, race, or
gender
Geographic - Answers-of or relating to the natural features, population, industries, etc.
of a region
Behavioral Market Segmentation - Answers-The process of performing market
segmentation utilizing user status, usage rate, or some other measure of product
consumption.
Psychographic - Answers-interests, activities, attitudes and values
4 P's of Marketing - Answers-Product, Price, Place, Promotion
skimming pricing - Answers-setting the highest initial price that customers really desiring
the product are willing to pay
penetration pricing - Answers-a pricing strategy in which a firm introduces a new product
at a very low price to encourage more customers to purchase it
cost-plus pricing - Answers-a method of setting prices in which the seller totals all the
costs for the product and then adds an amount to arrive at the selling price
Just-In-Time Planning - Answers-an inventory strategy companies employ to increase
efficiency and decrease waste by receiving goods only as they are needed in the
production process, reducing inventory costs
customer relationship marketing - Answers-using marketing activities to establish
successful customer relationships so that existing customer loyalty can be maintained
Promotional Mix - Answers-the combination of promotional tools—including advertising,
public relations, personal selling, sales promotion, and social media—used to reach the
target market and fulfill the organization's overall goals
publicity - Answers-public information about a company, product, service, or issue
appearing in the mass media as a news item
Advertising - Answers-any paid form of nonpersonal presentation and promotion of
ideas, goods, or services by an identified sponsor
personal selling - Answers-The two-way flow of communication between a buyer and a
seller that is designed to influence the buyer's purchase decision.
sales promotion - Answers-Short-term incentives to encourage the purchase or sale of a
product or service
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller GEEKA. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79064 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now