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Delayering is removing layers of management from the hierarchy of the organisation.…read more

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Business notes
Working with suppliers
What is a supplier a business or individual that provides goods and services to another
The supply chain
Origination ­ publishing manufacturing ­ distribution ­retail
Why suppliers are important
For a business to meet the needs and demands of its customers to needs as effective
supply chain
Suppliers determine many of the costs of a business
Suppliers are closely linked to product quality
For a business to use lean production techniques effective relationship with suppliers
is key
Suppliers can…read more

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Direct marketing
Trade associations
Contracting with a supplier
Relationships between supplier and customer are finalised with a supply contract
Contract set out how a business and its supplier will work together
Key features of service agreement
Suppliers and cash flow
Trade credit= where a business buys goods and services from a supplier and pays
for them later e.g.…read more

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Concerned with checking and reviewing production
Mainly about detecting defective output rather than preventing it
Can be expensive
Problems with quality inspection
Often too late e.g.…read more

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Can help brand a market
Quality products and services that meet customer needs and wants
Roles of customer service
Ensuring customers needs are met
Taking measures and keeping records
Providing assistance
Dealing with problems and handling complaints
Presenting an appropriate image of the business
How customers are different
Individual or group
Age and gender
Cultural and ethnic backgrounds
Technical knowledge
What do customers need?
Safety and security
Clear and accurate information
Cater for special need
Complaint and enquiry procedures
Types of customer feedback…read more

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Behave in a good way to make the business look good
Mystery shopping
Good method of research
Mystery shoppers are hired to test customer service levels e.g. transactions, quality
of service, store ambience
Powerful feedback if organised properly.
Elasticity of Demand
Price Elastic Products.
The demand for the product changes if
The price changes.
Price of a CD falls, demand rises
Price of a CD rises, demand falls.
Price Elastic
It is important for Business to know if their product is Price Elastic.…read more

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Price Elasticity of Demand
% Change in Quantity
% Change in Demand
What factors contribute to a product being Elastic or Inelastic?
Proportion of Income spent on Product.
Demand for the Brand V's Demand for the Product. (Petrol)
Conspicuous consumption is a term used to describe the lavish spending on goods and
services acquired mainly for the purpose of displaying income or wealth. In the mind of a
conspicuous consumer, such display serves as a means of attaining or maintaining social
status.…read more

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