chapters 8-12

What is meant by the words federally protected class?

group of people who are legally protected from discrimination under US federal laws

what are federally protected classes

-race, national orgin

-color, pregnancy , religion , sex, age,(40+) verteran status

when and why could. a company legally discrimminate against federally protected classes?

Under a Bona Fide Occupational Qualification (BFOQ), where a specific trait (such as age, sex, or religion) is strictly necessary for normal business operations. (Note: Race and color can never be used as BFOQs).

what is involved in employee selection

• 1. screening applications and resumes

• selection testing

• interview

• reference and background

• making the offer

what is known about interviews

• strucutred interview

• behavioral interview

• unstructured interview

• 
  

tips on employee seperation

• document everything

• be directed and brief

• private and dignified

• conduct and exit interview

• comply with final pay laws

what is meant by the production process

the sequence of actions that transform inputs into finished outputs.

What is mass customization? ex?

A production and marketing strategy that combines the flexibility and personalization of custom products with the low unit costs of mass production.

Examples:

• Designing custom shoes on Nike By You

• Selecting custom computer specifications on Dell's website

what is flexible manufacturing

production methos that uses matching to quickly change quantity

what is lean manufacturing

a production method that maximizes customer value while minimizing waste

1. What are the 4 P's?

Product price place promotion

Why is product important

• satisfies customor needs or wants

• phone, haircut, Spotify

Why is price important

• determines a company profit margin

• 5$ monthly subscription

• 15000 new phone

- 50% off

Why is place important

• product are accessible to target customors

• digital app store

Website

Why is promotion important

• brand awareness

• social media

• newsletter

• partnerships

What is b2b market

Business to business-sells goods or Services

What is consumer market

sells goods or services to indrudual end consumer

1. What is Market Segmentation?

And why is it important

Divided a broad diverse target market into smaller groups

• Allows businesses to tailor products messaging budgets

what is just- in - time manufacturing

ordering and received as needed

what is a pert chart

program evaluation and review technique

what is some of the most important factors invloved in choosing a facilty location?

labor availbity

supply chain

government incentives

what is extrinsic motivation?

comes from external rewards

ex- studying harder to not fail

what is intrinsic motivation?

person satisfaction

ex: volunteer at animal shelter because you enjoy it.

what was the original focus of the Hawthorne studies

• to determine how physical environmental factors are affecting workers

• human factors

• whether lighting better or worse

what are some of the primary components of equity theory of motivation

inputs- hard work, education

outputs- salary, benefits, promotions

what is the hawthorne effect

modify or improve their behavior because they know there being observed.

what is a goal setting theory of motivation

motivational theory stating that specific and challenging goals, combined with constructive feedback, lead to higher task performance than vague or easy goals.

What is meant by a total product offer?

• consists of everything consumers evaluate when deciding whether to buy something

what is the first stage in the product life cycle

• introduction- commercial stage tourism and consumer holographic displays

what is the 2nd stage of product life cycle

• growth

ex: electric vehicles, and smart home devices

what is the 3rd stage of product life cycle

maturity- smartphones, streaming services

what is the 4th stage product life. cycle

• decline- internet, desktop landline phones

what are the traditional elements in the promotion mix

advertising, personal selling, public relations, sale promotion