study guide

5 Pages
47 Views
Unlock Document

Department
Management (MGT)
Course
MGTA02H3
Professor
Chris Bovaird
Semester
Winter

Description
Lecture 6: Marketing Productivity and Quality: Productivity: minimizing ratio of inputs (labour, parts, etc.) to outputs (finished products). In other words: making a product quickly, efficiently and cheaply. Productivity: ratio of inputs (hours of labour or numbers or parts, dollars worth of parts) gone in to make a finishing product. A firm minimizing the amount of parts and investment that goes into a product. Canadian economy is less productive than the US economy at least 20%. Average worker turns out less than 20% of the American worker. His maybe because; Canadian managers dont invest on, on the job training, dont invest in capital equipment (machinery), American managers are prepared to try new interesting technologies. Quality: making a product that us fit for use In other words: making a product that works as it should Quality: giving the customer what they are expecting; what they want; the product they think they are paying for. Making a product that is going to work like its supposed to. Example of Quality: (Honda recall- air bags dont work); Toyotas: breaks do not work, had to do a recall. Shares slide as reputation loses steam (headlines). High quality reliable vehicles known as, pay a little more than the US vehicles but it is worth it. If you sell cars that do not work, and when customers get disappointed; sales of Chevy cobalt have increased to about 149.7 % and Toyotas have fallen gone into the negative percentages. Have to go back to factory and repairing product if makes a mistake, reputation takes a major hit. Marketing: Target Markets & Market Segmentation Marketing Concept -Well managed businesses: -Do not sell what they have (product focus) -Sell what customers want (customer focus) -Focus on customer is called the marketing concept www.notesolution.com
More Less

Related notes for MGTA02H3

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit