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Industrial marketing or business-to-business marketing is the marketing of goods and services by one business to another. Industrial goods are those an industry uses to produce an end product from one or more raw material. The term industrial marketing has largely been replaced by the term business-to-business marketing (B2B).
Perceived importance of the product to the customer's business (e.g. automotive transmission, or peripheral equipment, e.g. manufacturing tool) Attitudes towards the supplier: Personal characteristics of buyers (age, education, job title and decision style) play a major role in forming the customers purchasing attitude as whole.
Manufacturing flow management process The manufacturing process produces and supplies products to the distribution channels based on past forecasts. Manufacturing processes must be flexible in order to respond to market changes and must accommodate mass customization. Orders are processes operating on a just-in-time (JIT) basis in minimum lot ...
Marketing research is a systematic process of analyzing data that involves conducting research to support marketing activities and the statistical interpretation of data into information. This information is then used by managers to plan marketing activities, gauge the nature of a firm's marketing environment and to attain information from ...
An important leap in manufacturing efficiency came in the late eighteenth century as Eli Whitney popularized the concept of interchangeability of parts when he manufactured 10,000 muskets. Up to this point in the history of manufacturing, each product (e.g. each musket) was considered a special order, meaning that parts of a given musket were ...
A cross-functional innovation management committee is a team of individuals from different company departments, including marketing, engineering, design, manufacturing, and research and development, who are responsible for overseeing and managing the new product development process. This committee helps to ensure that all aspects of new product ...
Through the late 1800s, manufacturing firms were concerned with maximizing the productivity of the expensive equipment in the factory. Keeping utilization high was an important objective. Foremen ruled their shops, coordinating all of the activities needed for the limited number of products for which they were responsible. They hired operators ...
Products require different marketing, financing, manufacturing, purchasing, and human resource strategies in each life cycle stage. Once the product is designed and put into the market, the offering should be managed efficiently for the buyers to get value from it.