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Management (MGT)
Chris Bovaird

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
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