FUTURE BUSINESS LEADERS OF AMERICA

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Principles of Business and Marketing - AANNOUNCEMENTS

Week of 9/7/20●

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Principles of Business and Marketing - A

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Lesson 10 - PRODUCT DISTRIBUTION & PROMOTION

https://docs.google.com/document/d/15FG75Y1hI9TFm5IwiBXWpOzF7Erva_zxgjN7xcL1euk/edit?usp=sharing

Topic 4: Product Distribution pp. 305–314 Summary p. 321, #3, 4, and 6

Review p. 323, #3

Topic 5: Product Promotion pp. 314–319 Summary p. 322, #7 and 8

Review p. 323, #5 and 7

PRODUCT DISTRIBUTION

PRODUCTION DISTRIBUTION

PRODUCTION DISTRIBUTIONCHANNEL 1: distribution of consumer products through a direct channel. Distribution channel in which a product travels from producer to consumer without intermediaries.

CHANNEL 2: Retail distribution of consumer products.Producer sells to retailer. Growing area in internet sales.

CHANNEL 3: Wholesale distribution of consumer products. Once the most prevalent non-direct method, requires large amounts of floor space. Space is too expensive, so this method of distribution is not as popular.

CHANNEL 4: Distribution through sales agents or brokers. These individuals are acting for and in the name of another party represent producers and are usually paid on commission. Agents can represent several similar producer's product lines.

PRODUCTION DISTRIBUTION

CHANNEL 5: Distribution by agents to consumers and businesses. For example, some travel agencies. Channel five differs from other channels in two ways. Agent is the sole intermediary. Agent distributes to both consumers and businesses.

Industrial business distribution channels include:

CHANNEL 6: Direct distribution of business products. Usually, direct from producer to industrial buyer. Purchased in large quantities.

CHANNEL 7: Wholesale distribution of industrial products. For example, distribution of office equipment and accessories. Used most frequently for accessory equipment. Intermediaries break down large quantities to manageable size.

CHANNEL 8: Wholesale distribution to business retailers. Intermediaries are similar to traditional wholesalers. Consumers use discount stores that buy in volume and sell in small quantities with small markup.

PRODUCT DISTRIBUTION

PRODUCT DISTRIBUTION

PRODUCT PROMOTION

● The Promotion Mix - the most important P in the marketing mix● Four Goals:

○ Aware○ Knowledge○ Persuade○ Purchase

● Promotional Objectives○ Communicating Information○ Positioning Products○ Adding Value○ Controlling Sales Volume

● Promotional Strategies○ Push via channel○ Pull to consumer, pressue on channel○ Combo

● Promotional Tools○ Advertising, Personal Selling, Sales Promotion, Publicity and Public Relations, Combo○ Matched with different stages of the buying process

PRODUCT PROMOTION● PROBLEM/NEED RECOGNITION● INFORMATION SEEKING● EVALUATION OF ALTERNATIVES● PURCHASE DECISION● PURCHASE EVALUATION● ADVERTISING PROMOTION (large reach)

ADVERTISING STRATEGIES (best when personalized, targeted)

● Persuasive Advertising - advertising strategy that tries to influence consumers to buy one company's products instead of those of its rivals.

● Comparative Advertising - advertising strategy that directly compares two or more products.● Reminder Advertising - advertising strategy that tries to keep a product's name in the consumer's mind.

ADVERTISING MEDIA

● Television, Direct Mail, Newspapers, Magazines, Radio, Outdoor Advertising, Internet Advertising

● The media mix

PERSONAL SELLING

● The oldest form of advertising

Lesson 11 - PRODUCTIVITY & QUALITY

https://docs.google.com/document/d/1QbHcEOZ5kBAc4NtIigi549IlsauHXvlrl_hmST9_49c/edit?usp=sharing

GOODS PRODUCTION● PRODUCTIVITY TODAY● SERVICE OPERATIONS● GOODS PRODUCTION● CREATING VALUE THROUGH OPERATIONS

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● OPERATIONS PRODUCTION MANAGERSPlan, Organize, Schedule and Control Operations for output

○ Analytic production process in which resources are broken down into components to create finished products.

○ GE combines raw materials to produce refrigerators. ○ The level of customer contact in which the customer is part of the system

during service delivery. Example: Delivery of a root canal. ○ Low-contact systems. Level of customer contact in which the customer

need not be part of the system to receive the service. Example: Delivery of check processing services.

SERVICE OPERATIONS● SERVICE VERSUS MANUFACTURING OPERATIONS● FOCUS ON PERFORMANCE, PROCESS/OUTCOME, SERVICE CHARACTERISTICS, CUSTOMER SERVICE

LINK, SERVICE QUALITY CONCERNS● OPERATIONS PLANNING● CAPACITY PLANNING AND LOCATION PLANNING FOR GOODS/SERVICES● LOCATION PLANNING FOR GOODS/SERVICES, PROCESS LAYOUT, CELLULAR LAYOUT, PRODUCT

LAYOUT, LAYOUT PLANNING FOR GOODS/SERICES● QUALITY PLANNING● METHODS PLANNING, IMPROVEMENT IN GOODS/SERVICES● DESIGNING TO CONTROL EMPLOYEE DISCRETION IN SERVICES & CUSTOMER CONTACT IN SERVICES

OPERATIONS SCHEDULING AND CONTROL

THE MASTER PRODUCTION SCHEDULE

Schedule showing which products will be produced, when production will take place, and what resources will be used. Shows which products will be produced, when production will take place, and what resources will be used.

SCHEDULING SERVICE OPERATIONS INVOLVES BOTH WORK AND WORKERS

In a high contact service, the customer is part of the system and must be accommodated, so precise scheduling of services might not be possible. In scheduling workers, managers must consider efficiency and costs.

SCHEDULING TOOLS

A Gantt chart - production schedule diagramming the steps in a project and specifying the time required for each shows the amount of time it should take to accomplish each element of a manufacturing project of process. It shows managers whether the process is in line with the plan schedule.

A PERT chart - production schedule specifying the sequence and critical path for performing the steps in a project. Program evaluation and review technique is used for more complex projects. It helps managers identify the optimal sequencing of activities, the expected time for project completion, and the best use of resources within a complex project.

OPERATIONS CONTROL

Operations control - process of monitoring production performance by comparing results with plans is how managers monitor performance by comparing results with the detailed plans and schedules. As with any plan, follow up, production control activity for ensuring that production decisions are being implemented is a necessary and ongoing facet of operations control. All companies used materials and materials management, planning, organizing, and controlling the flow of materials from design through distribution of finished goods is the process manager's used to plan, organize, and control the flow of materials from design through distribution of finished goods. An important part of materials management is standardization. Use of standard and uniform components in the production process. The four major areas in materials management are transportation, warehousing, purchasing, inventory control. In materials management, receiving, storing, handling, and counting of all raw materials, partly finished goods, and finished goods.

The purchasing process includes the purchasing, acquisition of the materials and services that a firm needs to produce its product of the raw materials and services that firm needs to produce its product. Purchasers need to be aware of holding costs. Cost of keeping extra supplies of inventory on hand and the lead time. In purchasing control, the elapsed time between the customer's placement of an order and the seller shipment of merchandise when planning purchases.

SUPPLIER SELECTION

Process of finding and selecting suppliers from whom to buy includes evaluating potential suppliers. Negotiating terms of service and maintaining positive buyer-seller relationships.

OPERATIONS PROCESS CONTROL TOOLS

Managers use a variety of tools for controlling operations.

WORKER TRAINING

Customer satisfaction is closely linked to the employees who provide the service.

LEAN SYSTEM

Production system designed for smooth production flows that avoid inefficiencies, eliminate unnecessary inventories, and continuously improve production processes.

JUST IN TIME (JIT) PRODUCTION

Production method that brings together all materials and parts needed at each production stage at the precise moment they are required.

MATERIAL REQUIREMENTS PLANNING (MRP)

Production method in which a bill of materials is used to ensure that the right amounts of materials are delivered to the right place at the right time.

BILL OF MATERIALS

Production control tool that specifies the necessary ingredients of a product. The ordering which they should be combined and how many of each are needed to make one batch.

MANUFACTURING RESOURCE PLANNING (MRP) 2

Advanced version of MRP that ties together all parts of an organization into its production activities.

QUALITY CONTROL

Productivity and quality. Productivity - measure of economic eye performance that compares how much a system produces with the resource needed to produce it. Quality - A product fitness for use. Its success and offering features that consumers want are essential factors in the competitive environment. It is important to find an appropriate balance between the two.

PRODUCTIVITY VS QUALITY

● MEASURING PRODUCTIVITY○ DOMESTIC PRODUCTIVITY○ INDUSTRY WIDE PRODUCTIVITY○ COMPANY WIDE PRODUCTIVITY

● QUALITY IMPROVEMENT● MANAGING FOR QUALITY-- TOTAL QUALITY MANAGEMENT TQM

The sum of all activities involved in getting high quality products into the marketplace is sometimes called quality assurance. Customer focus is the starting point and includes methods of determining what customers want, then causing all of the company's activities and people to be directed toward fulfilling those needs and creating customer satisfaction.’

● MANAGING FOR QUALITY-- PLANNING FOR QUALITY● ORGANIZING FOR QUALITY● DIRECTING FOR QUALITY● CONTROLLING FOR QUALITY

IMPROVING PRODUCTIVITY & QUALITY

● TRENDS IN PRODUCTIVITY AND QUALITY MANAGEMENT○ ISO 9000, The ISO 14000

● PROCESS RE-ENGINEERING○ Business process re-engineering - redesigning of business processes to improve performance, quality and

productivity - is a quality improvement process that focuses on improving both the productivity and quality of business processes. Reengineering entails rethinking an organization's approach to productivity and quality. There are six steps in this process:

Step 1. State the benefits envisioned for customers and the company.

Step 2. Identify the business activity that will be changed.

Step 3. Evaluate information and human resources to see if they can meet the requirements.

Step 4. Diagnose the current process to identify its strengths and weaknesses.

Step 5. Create the new process design.

Step 6. Implement the new design.

https://docs.google.com/document/d/1VpHNT9ihtW-H0nqQ109YYzv7VmguEA0YJUtHc6aR2W0/edit?usp=sharing

Topic 1: Information Management pp. 339–344 Summary p. 351, #3

Review p. 352, #1 and 3

Topic 2: Organizational Design and Information Systems

pp. 330–334 Summary p. 351, #1

Review p. 352, #2

Topic 3: Information Systems and Communication Technologies

pp. 334–339 and 346 – 349

Summary p. 351, #2 and 5

Review p. 352, #6

INFORMATION MANAGEMENT

INFORMATION MANAGEMENT

INFORMATION MANAGEMENT

ELECTRONIC INFORMATION TECHNOLOGY

DATA COMMUNICATIONS NETWORKS

ORGANIZATIONAL DESIGN & INFO MGMT

● REASONS BUSINESSES SHOULD MANAGE INFORMATION○ OPTIONS IN ORGANIZATIONAL DESIGN○ LEANER ORGANIZATIONS○ MORE FLEXIBLE OPERATIONS○ INCREASED COLLABORATION○ GREATER INDEPENDENCE OF COMPANY AND WORKPLACE

ELEMENTS OF THE INFORMATION SYSTEM (Computer Network)

1. Input device: part of the computer system that enters data into it.

2. Central processing unit - CPU: part of the computer system where data processing takes place.

3. Main memory: part of the computer's CPU that houses the programs that the CPU needs to operate.

4. Programs: set of instructions used by a computer to perform specified activities.

5. Output device: part of a computer system that presents results, either visually or in printed form.

ORGANIZATIONAL DESIGN & INFO MGMT

SOFTWARE

1. Click function: software that tells the computer what resources to use, and how to use them.

2. System programs: click function software, such as Word for Windows, that processes data according to a user's special needs.

3. Application programs: graphical user interface - GUI - software that provides a visual display to help users select applications.

INFO SYSTEMS & COMMUNICATION

CONTROLLING THE INFORMATION SYSTEM

DATABASES AND APPLICATION PROGRAMS

SYSTEM ARCHITECTURE

LET’S PLAY

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