Specifics

• What do Modern Awards refer to?

  Legally enforceable minimum terms and conditions for a business or industry
• What information is included in Modern Awards?

  • Wages, including penalty and overtime rates
  • Hours of work and rest breaks, including flexible work arrangements
  • Leave types: sick, holiday, long service, study, family, and maternity leave
  • Redundancy rates
• What is one advantage of Modern Awards?

  They set a minimum pay and conditions for employees
• What is a disadvantage of Modern Awards?

  They may not suit all employees due to inflexibility
• What is an enterprise agreement?

  A negotiated agreement about pay and conditions at a workplace level
• What are key features of enterprise agreements?

  • Cover rates of pay, overtime, hours of work, allowances, and leave
  • Must be in writing and approved by all parties
  • Approved by Fair Work Commission
  • Pass a ‘better off overall test’ compared to the modern award
  • Must not include unlawful conditions
  • Have an expiry date
  • Outline dispute settlement procedures
  • Include flexibility for variations
• What is one advantage of enterprise agreements?

  They allow for consultation and involvement of employees
• What is a disadvantage of enterprise agreements?

  They may undermine award standards, leading to long hours
• What are individual common law contracts?

  Contracts that do not have to include award conditions
• Who do individual common law contracts usually apply to?

  Relatively highly paid professionals
• What is the high income threshold?

  A minimum level of pay for individual common law contracts
• What are the advantages of common law contracts?

  • Right to sue for compensation if conditions are unmet
  • Flexibility to suit individual needs
  • Individual initiative rewarded
• What are the disadvantages of common law contracts?

  • Less protection than other agreements
  • Possible exploitation due to unfair bargaining
  • Expense of court cases if disputes arise
• What is the nature of the contract between employers and employees?

  It covers their working relationship
• What rights do employees have under common law?

  To be paid for their work
• What type of employment contract can be verbal or written?

  The employment contract
• What are the expectations of employers?

  • Pay correct income
  • Provide a safe and discrimination-free workplace
  • Provide a pay slip
  • Not require illegal activities
  • Abide by industrial relations legislation
• What are the expectations of employees?

  • Obey lawful commands
  • Attend work on time
  • Use care and skill in work
  • Act in good faith
  • Dress appropriately
  • Respect colleagues and employer
• What is product differentiation?

  Making similar products appear different or better than competitors
• What factors can differentiate products?

  • Customer service
  • Convenience
  • Value for money
  • Quality
• Why is customer service important in product differentiation?

  It can influence purchasing decisions
• How does convenience play a role in product differentiation?

  Consumers prefer products that are easy to use or accessible
• What do consumers seek in terms of value for money?

  They want the best value for their purchases
• What characterizes a quality product?

  A high degree of excellence and reliability
• What are social considerations in promoting and selling?

  • Developing social goals
  • Achieving financial goals responsibly
  • Ensuring broader social welfare is considered
• What is corporate social responsibility?

  Steps taken to ensure social welfare in business dealings
• How does environmental awareness affect marketing?

  It increases the chance of business success
• What is green marketing?

  • Selling products based on environmental benefits
  • Requires genuine efforts in sustainability
  • Involves product modification and sustainable practices
• What should businesses avoid in green marketing?

  Simply claiming to be environmentally friendly without action
• What ethical considerations are important in promoting and selling?

  Ensuring products do not exploit workers or the environment
• What is the role of promotion?

  To inform, persuade, and remind consumers about products
• What are the aims of promotion?

  • Attract new customers
  • Increase brand loyalty
  • Encourage existing customers to purchase more
  • Promote new products
• What is a promotion mix?

  • Various promotion strategies used in campaigns
  • Includes advertising, personal selling, and public relations
• What is advertising?

  A paid, non-personal message communicated through mass media
• What are the advantages of advertising?

  It can reach a large audience and increase sales
• What are types of advertising?

  • Mass marketing (TV, radio, newspapers)
  • Direct marketing (catalogues)
  • Telemarketing
  • E-marketing
  • Social media advertising
  • Billboards
• What is personal selling?

  Activities of a sales representative directed to a customer
• What is the benefit of personal selling?

  The sales consultant can tailor the message to the customer
• What is relationship marketing?

  • Development of long-term relationships with customers
  • Focus on customer retention and satisfaction
  • Aims to create loyalty through individual care
• Who are opinion leaders in marketing?

  Individuals who influence others' purchasing decisions