CIPS L4M1 SUMMARIZED STUDY GUIDE TO ACE YOUR EXAMs

CIPS L4M1 SUMMARIZED STUDY GUIDE TO ACE YOUR EXAMs
Differences between Public and Private (Private sector)
✔✔1. More flexibility
2. Contracts can be bespoke
3. Suppliers can be managed as required as long as anti-bribery, coercion,
unethical conduct etc. do not occur
4. Freedom to negotiate
5. All suppliers can be considered
6. Buyers can invite who they want to bid and disregard anyone they
choose not to work with
7. Confidentiality in spending patterns is easier to maintain
8. Relationships often more personal and less regulated
9. Innovation is promoted
10. Procurement workers can negotiate salaries
Elements of a brand
✔✔1. Advertising
2. Marketing
3. Trust
4. Identity
5. Value
6. Design
7. Logo
8. Strategy
A brand should inform consumers of 3 basics things