
- •Understanding of the external business environment
- •Segmentation, targeting and positioning
- •It means that all the activities a firm undertakes to promote its products to target customers. The goals of promotion include informing, persuading and reminding.
- •Marketing Myopia
- •Customer lifetime value
- •Motivation
- •Integrative conflict resolution (Mary Parker Follet)
Motivation
Motivation is not about whether you can do something but about whether you want to do something. All human performance depends on both ability and motivation.
Survival needs: People are motivated to seek money
Growth needs: But people also seek to apply their potential, to make bonds with others.
Implication: If managers want to motivate people over the long term, they must enable them to grow.
People are motivated to satisfy needs: survival and growth needs
People respond when there are rewards they value, and when they feel they can do the job and have confidence they will be rewarded
Manager need to be aware of the importance of equity in pay systems and should aim to minimise perverse incentives.
Being a manager
Management work is reached via promotion from specialist or technical roles
It is qualitatively different, involving greater responsibility and more challenging types of “people work”
Work experience and management development processes enhance our management skills.
Administrative management (Henri Fayol)
Fayol argued that if managers want to be successful, they need to perform five managerial elements: planning, organising, coordinating, commanding and controlling.
Discipline – clearly defined rules and procedures to ensure order and proper behaviour.
Unity of command – receive orders from just one boss
Remuneration – fair compensation
Order – there should no overlapping responsibilities
Equity – kind and fair treatment.
Human relations management
Human relations management defines people as more than just extensions of machines. They are valuable organisational resources. Their needs are important and their efforts, motivation and performance are affected by the work they do and by their relationships with their bosses, co-workers and work groups. Organisational success depends on threating workers well.
Integrative conflict resolution (Mary Parker Follet)
An approach to dealing with conflict in which both parties deal with conflict by indicating their preferences and then working together to find an alternative that meets the needs of both.