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KA IA 1 - Coggle Diagram

- - - - Refers to how people tend to make judgement of another person's behaviour base on previous interactions they had with that person. We are often quick to judge and in this process, make wrong assumptions without understanding the full facts.
    - - Refers to the tendency to draw conclusions based on your own beliefs and prejudices instead of unbiased facts or data.
    - - Or similarity bias, is the likelihood that people tend to connect with others with similar interests, experiences and/or backgrounds. This often occurs wen recruitment teams try to hire candidates with a good ‘culture fit’ for the company and they may unknowingly recommend a someone they like due to shared interests.
    - - A.k.a peer pressure. People are inclined to act similarly to others around them, regardless of their own personal beliefs. This can lead to group think in the workplace: in a tea, meeting, conformity bias can cause individuals to echo the same ideas as the majority. But majority is not always right, and the right individuals to speak up or provide alternative viewpoints should be protected.
- - - - Need to be honest to the accounts, so that in the long run they will know who can be trusted and will come back to you for business again. This will create long-term relationships, and key accounts.
    - - Need to know that all customer are different and unique, so they require different approach and solutions to their problem. So, to identify and deliver these solution, it will be able to further satisfy the account.
    - - being aware of one's own feelings and emotion
      - controlling one's emotions
      - recognising customer's emotions (e.g having EMPATHY)
      - using one's emotions to interact effectively with customers
    - - Salespeople needs to be real dependable and trustable, and not putting a show in front of their clients.
    - - Be responsive to customer's needs.
      - Need to also listen to their questions, that may help you discover their true concern, needs and problems.
- - - - Product service is not tangible, it cannot be seen, tasted, felt, heard or smelt before they are purchased.
      - This affects customer purchase decision
    - - Consumers need to come and consume the experience
    - - Causes of service variability
        
        Service provider skills and performance at the time of exchange
        
        Fluctuating demand
    - - Service cannot be stored for later sale or use
  - - - People would like to go for skiing during winter, beach during summer and sight seeing at Japan for their cherry blossom in Spring.
- - - - Direct and indirect distribution
        
        Online travel agents
        
        Global distribution system
        
        Travel wholesalers, tour operators
        
        Travel agents
        
        Own website
      - Dual distribution
        
        Using two or more distribution channels to reach one or more customer segments.
      - Multi-channel distribution system
        
        Refers to a blending of different communication and delivery channels that are mutually reinforcing in attracting to build relationships with customers who shop and buy via traditional intermediaries.
    - - 4 Levels of product
        
        Core
        
        Refers to what the buyer is really buying.
        
        Facilitating
        
        Refers to services or goods that must be present for the buyer to use the core product.
        
        Supporting
        
        These are extra products offered to add value to the core product and differentiate it from the competition.
        
        Augmented
        
        These are additional customer services and benefits built around the core and actual product.
    - - Advertising
      - Sales promotion
      - Personal selling
      - Public relation
      - Direct & digital marketing
    - - General pricing objectives
        
        Cost-based pricing
        
        It is the marking up of cost to establish the price of it.
        
        Break-even & target profit pricing
        
        There will be no profit or loss being made.
        
        Value-based pricing
        
        Customer-oriented approach pricing. It uses the buyer's perception of value to establish price.
        
        Competition-based pricing
        
        Pricing is establish based on competitors' pricing.
- - - - Employees are grouped together based on their specialised skillset, to reduce duplication and increase efficiency.
      - Then there will be an event director in charge of all the teams, of employees grouped in their specialised skillset.
      - Only one person in charge and that is the event director.
      - Cons of this approach is that there is only one person to make the decision for the whole event, since there is only one person, the decision may be delayed.
      - Advantages
        
        Efficient resource use and economies of scale
        
        In-depth skill specialisation and development
        
        Centralised decision making and unified direction from top managers
      - Disadvantages
        
        Poor communication and coordination across departments
        
        Slow response to environment changes
        
        Decisions involving more than one department may pile up at the top of the organisation creating delay.
    - - Is the combination of both team and functional approach.
      - Only used in large scale event, which has multiple venues.
      - Advantages
        
        More efficient use of resources than single hierarchy
        
        Flexibility, adaptability to changing environment
        
        Interdisciplinary cooperation, expertise available to all divsions
      - Disadvantages
        
        Frustration and confusion from dual chain of command
        
        High level of conflict between two sides of the matrix
        
        Time lost to meetings and discussion to resolve conflicts than action
    - - Employees from various functional department, come together to form a temporary team to help out in executing the event.
      - Each of the employees will still have to report to their respective department managers
      - They will also have a group leader within themselves.
      - This approach gives managers a way to delegate authority, push responsibility to the lower levels, and be more flexible and responsive in a complex and competitive global environment.
      - Advantages
        
        Reduced barriers across departments resulting in improved coordination and cooperation
        
        Adapt more quickly to customer requests and environmental changes
        
        Shorter response time and quicker decision-making
        
        Better morale, enthusiasm from employee involvement
      - Disadvantages
        
        Dual loyalties and conflict due to different work demands
        
        Time and resources devoted to meetings increasing coordination time
        
        Unplanned decentralisation and decision may be made against the organisation's good
    - - Collaboration beyond the boundaries of the organisation, is different companies coming together on a contract basis.
      - It is outsourcing other companies who are specialised in different skillset.
      - Advantages
        
        Flexibility and competitiveness on a global scale.
        
        Respond quickly to changes in the environment and customer needs.
        
        Reduced overhead costs as little supervision is required.
      - Disadvantages
        
        Lack of hands-on control as operation are not under one roof.
        
        Greater uncertainty and demands on managers due to weak boundaries.
        
        Customer service and loyalty can suffer.
        
        Employee loyalty can weaken.
- - - - Offer
        
        An offer is when a person indicates to another his willingness to enter into a contract bu the offeree to all the terms of the offer.
      - Acceptance
        
        It is the unconditional consent by the offeree to all the terms of the offer.
      - intention to create legal relations
        
        Both parties must show their intention for the contract to be legally binding, before the contract can be legally enforceable
      - Consideration
        
        Is some benefit or profit accruing to one party or some detriment or loss suffered or undertaken by the other
    - - Conditions
        
        Very important term of a contract, one which goes to the root of the contract
      - Warranties
        
        A term which is not so important to the contract
      - Innominate terms