Notes, summaries, assignments, exams, and exercises for Economics for Vocational training

Marketing Fundamentals (Tema 1)

The Marketing Concept Defined

Marketing is the process of planning, designing, pricing, promotion, and distributing ideas, goods, and services in order to satisfy customer needs and achieve profitability.

The Marketing Process

The marketing process typically covers two main stages:

1. Market Research: Analyzing customers, competitors, and market factors.
2. Market Planning: Defining the product, price, place, and promotion (the Marketing Mix).

The Marketing Mix (The 4 Ps)

The Marketing Mix principles are controllable variables that must be carefully managed to meet the needs of the defined target group. All elements of the mix are linked and must support each other:

1. Product: The features and appearance of goods and services.

MA 1

What Is a Company?

Companies are the foundation of our economic system. A company is an entity that integrates a set of items organized and operated to achieve a set of goals through the implementation of a particular economic activity.

All this must be addressed and organized by a figure known as the entrepreneur.

• Types of Companies: Depending on the size (small, medium, and large), scope (local, national, and multinational), or economic activity (primary, secondary, tertiary).

Sole Trader: A person who conducts a business activity on their own.

Functions and Objectives of a Company

Features:

• Creation of value: New gadgets, mobile devices, etc.
• Social function: Companies provide the necessary income to live through wages paid to employees or the

Unemployment: Situation and Types

Unemployment occurs when individuals are capable and willing to work but lose their jobs, either temporarily or permanently.

Types of Unemployment

• Total Unemployment: This happens when a worker ceases activity, either temporarily or permanently, in a developing sector and is deprived of their salary.
• Partial Unemployment: This occurs when working hours are temporarily reduced by at least one-third, with a proportional reduction in salary.

Coverage of Unemployment

The General Law of Social Security protects unemployed workers at two levels:

• Contributory Level: Unemployment benefits are provided to individuals who cease work or have their working hours reduced.
• Assistance Level: A subsidy is granted in situations

Building Franchise Confidence

Aspects to offer confidence over a particular franchise include acting in a specific area with dedicated centers, maintaining agreements with financial institutions to facilitate franchisee financing, and ensuring high franchisee satisfaction within the network.

Pre-Contract of Franchise Explained

As its name indicates, a pre-contract of franchise precedes the preliminary contract. It is a written document where the franchisor agrees to reserve, for a specific enterprise, the right to access the franchise in a particular area for a limited time, usually around two months.

Franchise Statements: True or False

• Both franchisor and franchisee are independent: True
• There is no specific Spanish law regulating franchises: True

Funding

Understanding the Category Life Cycle

Categories are defined as groups of products and brands where consumer behaviors are collective. The life cycle follows four distinct stages:

1. Introduction: The Barely Known Category

Opening a category means the product is entirely new, driven by innovation. At this stage, the product itself is more important than the brand. There is no direct competition, and the market segment is not yet clearly defined. The primary purchasers are early adopters.

2. Growth: The Secure Category

This stage occurs when consumers recognize, understand, and fully accept the product. While direct competition is limited because rivals often target different segments, overall competition increases. This phase requires significant...

Technique No. 2: Business Model Ideation

Mapping an existing business model is one thing; designing a new and innovative business model is another. Ideation is the process for generating a large number of business model ideas and successfully isolating the best ones. Today, different business models compete in the same markets, and boundaries between industries are blurring—or disappearing altogether.

One challenge we face when trying to create new business model options is ignoring the status quo and suspending concerns over operational issues so that we can generate truly new ideas. Business model innovation is not about looking back, because the past indicates little about what is possible in terms of future business models. Business model...

Sales Organization

Our company, operating in the tertiary sector, is dedicated to providing services directly to the customer. Therefore, we utilize a direct distribution channel: Manufacturer to Final Consumer.

Pricing Policy

Our company aims to achieve the following objectives:

• Establish a permanent presence.
• Generate market returns in the short term.
• Promote and position our products and services, and defend against competition.

Pricing: The price of our products and services is set by studying the following three methods, so we consider:

• The costs (COST & SELLING PRICE RANGE)
• The maximum price that can be set on the market, analyzing the advantages and disadvantages of the company against the competition.

Legal Form

The legal form is a Limited...

Just-in-Time (JIT) and Quick Response (QR)

Just-in-Time (JIT), meaning "at the right time", ensures that raw materials and finished products are available to the production process or the end user precisely in the class, quantity, and time required. The Quick Response (QR) technique is a management system that uses information technology for real-time information about market demand and responds instantly, reducing production costs and maintaining stocks.

Distribution Channel Selection

Choosing the best option among possible distribution alternatives is crucial. Decisions include single or multi-channel, direct or indirect. The most frequent activities in a company are:

• Development of the company's distribution plan.
• Determining the geographic scope

Core Concepts of Inventory and Stock

Key Definitions

• Stock (General): A collection of products accumulated in space and time, possessing economic value, remaining stored until used.
• Economic Stock: Material belonging to the firm, which is either in transit or at fixed points (e.g., supplier warehouses).
• Physical Stock: Items that have weight and volume, occupy physical space, and possess economic value. This stock must be managed.
• Assortment: A set of different products (variety) offered.
• Warehouse Stock: The total amount accumulated in the warehouse. Note: A wholesaler typically maintains a large stock but a small assortment.

Provisioning and Inventory Policy

Provisioning Process

Provisioning is the set of operations carried out by the company to source...

1. MINIMUM STANDARDS

Rule 102 of the ILO: 100% of the workforce should be protected for at least 20% of the economically active population (PEA). 50% of the total population protected (PTA). 100% of the polar groups (risk groups), the very old or very minor (GP). 100% of excluded groups.

1. Describe the characteristics that motivate the German model and the English model.

   German model:

   The industrial revolution - Public assistance by Asin - there was not a labor law - the concentration of labor - Accidents at work.

   English model:

   - Unemployment - housing - death - the German model is limited to persons who had an employment relationship.

   Bismarck Model: Characteristics

   1. Tripartite
   2. Governance
   3. Specialized
   4. Compulsory employer and employee contributions

2. English Model: