Identify and satisfy the customers' needs and to bring the product/service within an easy reach of the customer
Role of marketing function
Decide on the appropriate marketing mix for the product/service
Determine the best promotion methods to get maximum attention
Understand their customers by determining the target market and regularly doing market research
Design logos, slogans and ensure they are registered
Create brand awareness
Marketing mix
The four P's used by marketers to achieve the marketing department's objective: Product, Price, Place, Promotion
Advertising
Inform, persuade and remind the consumer about the product/service
AIDA: Attract Attention, Spark Interest, Develop desire to own, Result in action
Sales promotion
Offering discounts, competitions, free samples
Publicity
Sponsoring a sports event or creating an event to build awareness between the business and the public
Direct marketing
Promoting products electronically through social media, e-newsletters, websites and other forms of online advertising
Brand
Allows one business to distinguish its product from another
Trademark
A registered symbol or sign on a manufacturer's item that ensures the product is of a certain quality
Logo
The symbol or diagram attached to a brand
Slogan
Used in advertising to create an association to the product
Brands representing quality
Nike
Coca-Cola
Logo and slogan representing quality
Logo: Apple
Slogan: "Just do it"
Advantages of having a good brand, trademark, slogan or logo
Well-known slogans
McDonald's: "I'm lovin' it"
Red Bull: "Red Bull gives you wings!"
FNB: "How can we help you?"
Market research
Identifying and satisfying the customers' needs
Production function
The manufacture or assembly of goods to ensure they are produced on time, are of the right quantity and quality
Role of production function
Decide on the best production method
Ensure the production process is uninterrupted and efficient
Determine what part of production will be automated or performed manually
Determine how much stock to have available to meet customer demand
Just-in-time system
A system where suppliers know they have to deliver goods just as they are needed, rather than the manufacturer having to store large quantities of stock
Disadvantages of storing too much stock
Automation
Machinery or robots that perform jobs that are normally dangerous for humans, following a programmed routine
Advantages of automation
Workers are protected from dangerous work
Work is done more efficiently
Effects of automation on the economy in recent decades
Production systems
Jobbing (unique products made to customer order)
Mass production (high volumes of identical products)
Batch production (products produced in groups or batches)
Human resources function
Looking after the staff or employees of an organisation to ensure they are well-trained and committed to the goals of the business