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in Grade 12 by Master (699k points)
  1. Marketing
  2. Purchasing

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by Master (699k points)
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Quality of performance.

1. Marketing:

  • Increasing their market share.
  • Winning customers by satisfying their needs/wants and building positive relationships.
  • Adhering to ethical advertising practices when promoting products/services.
  • Identifying a competitive advantage to focus/improve on marketing strengths.
  • Differentiating products in order to attract more customers.
  •  Constantly reviewing value issues.
  • Communicating effectively with customers to get feedback about their experiences of products/services sold.
  • Co-ordinating distribution with production and advertising strategies.
  • Using pricing techniques to ensure a competitive advantage.
  • Measuring gaps between customer expectations and actual experiences, so that problems/unhappiness may be diagnosed and addressed.
  • Making adjustments and changes to products/services based on feedback from customers/results of market research.
  • Using aggressive advertising campaigns to sustain/increase the market share.

2. Purchasing:

  • The purchasing and procurement department has the responsibility for obtaining goods/services that will support the business in meeting its performance goals.
  • Ensuring that purchases are of the right quality/price/quantity and are available at the right time and place.
  • Identifying suitable suppliers who will be able to source and deliver goods and services.
  • Maintaining and implementing an effective stock control system.
  • Ensuring that suppliers are paid on time.
  • Involving suppliers in strategic planning/product design/material selection/quality control process.
  • Ensuring that there is no break in production/shortages due to stock outs.
  • Minimising cash flow problems due to overstocking.
  • Building relationships with suppliers so that they are in alignment with the business's vision/mission/values.
  • Having a thorough understanding of supply chain management.

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