Thus leading to attract more customers leading to an increase of equines sales and profitability
Activity
Create a diagram that outlines the role of each key business function The key business functions:
Operations: They work closely without marketing department to incorporate product features that consumers will respond positively to. Human resources: deals with the relationship between the owners of a business and the people who work for the business.
It is a support function that aims to find, attract, develop and motivate the people who can provide the services that the business requires. Marketing: involves finding out what consumer’s need and want, and linking these research findings to he business product. Accounting and finance is responsible for providing the financial information needed for sound and viable decision-making.
In each section, identify how the key business function is interdependent with marketing.
Activity
Explain why businesses may benefit from using the production approach. The business would focus on how the good was produced, as it believed that customers would be drawn to the quality of the product.
Outline the importance of promotion to the selling approach. Promotion assisted businesses in differentiating themselves from their competitors. .
Activity
Identify the types of markets in which the Following business transactions occur:
a.
A mining company has discovered iron ore deposits in Queensland.
B. A motor vehicle production company uses tiers produced by Kumar Runner Automotive.
C. A Dread nutcracker NAS released a type AT Dread Tanat appeals to a variety AT consumers.
D. An electronic store sells a range of television brands, including Panasonic, Samsung and LOG.
E. A Jeweler specializing in bridal Jewelry.
F. A TV station believes its niche market to be males aged 40 years and over interested in sport.
