DIPLOMA IN MANAGEMENT

EXECUTIVES

CLASS = 29/3,
5/4,12/4,19/4,26/4,3/5& 17/5=
7 CLASSES.
TIME: 2.00 P. – 6.00 PM
o FINAL EXAM = 5 QUESTIONS.
o ASSIGNMENT = 3.5.09
o FINAL EXAM = 60%
o ASSIGNMENT = 40% (AT LEAST 2000
WORDS)
MARKETING MANAGENEMT
o WHAT IS MARKETING
AS A PROCESS OF PLANNING,
EXECUTING CONCEPTS, PRICING,
PROMOTIONS AND DISTRIBUTION OF
IDEAS, GOODS AND SERVICES TO
CREATE EXCHANGE THAT MIGHT
SATISFY THE OBJECTIVES OF
INDIVIDUALS AND ORGANIZATIONS.
ACCORDING TO PHILIP KOTLER
o MARKETING IS A SOCIAL AND
MANAGEMENT PROCESS WHERE A
PERSON OR GROUP OBTAIN
WHAT HE OR THEY REQUIRE VIA
THE CREATION AND EXCHANGE
OF PRODUCTS AND VALUE WITH
OTHERS.
o A Definition of Marketing
n Marketing: the process of planning and
executing the conception, pricing,
promotion, and distribution of ideas,
goods, services, organizations, and
events to create and maintain
relationships that will satisfy individual
and organizational objectives.
o Both definitions also identify the
marketing variables that together
provide customer satisfaction
n Product
n Price
n Promotion
n Distribution
o Creating customers that want to stay
with you is all about identifying
needs, providing goods and services
that meet those needs, pricing, and
MARKETING ENCOMPASSES:
1. SOCIAL ACTIVITIES, EXCHANGE
AND VALUE.
2. SKILLS OF SOCIALIZING – THE
SKILLS OF INTERACTING AND
COMMUNICATION WITH PEOPLE.
3. WORD MARKETING = SELLING
AND BUYING IN A SOICETY TAKE
PLACE.
MARKETING IS DISCIPLINE OF
SOCIAL SCIENCES:
o MARKETING IS PRACTICED IN
SOCIETY.
EXCHANGE AS THE BASIS OF
MARKETING
o ACCORDING TO THE MARKETING
ASSOCIATION OF AMERICA,
MARKETING IS:
“ THE PROCESS OF PLANNING AND
EXECUTING THE CONCEPTION,
PRICING, PROMOTION AND
DISTRIBUTION OF IDEAS, GOODS, AND
SERVICES TO CREATE EXCHANGE THAT
SATISFY INDIVIDUAL AND
ORGANIZATIONAL GOALS”.
MARKETING IS ABOUT:
o EXCHANGE THAT REFLECTS SOCIAL
INTERACTION.
o FIRM MUST UNDERSTAND WHAT
CONSUMERS ACTUALLY WANT OR
NEED.
o FIRM WILL PROVIDE THE PRODUCTS
WANTED BY CUSTOMERS.
o PRODUCT PURCHASED WOULD HAVE
FULFILLED CUSTOMER NEEDS AND
WANTS.
ROLE OF MARKETING
o MARKETING, FINANCIAL, HUMAN
RESOURCE AND PRODUCTION MGMT.
o REVENUE GENERATING FUNCTIONS.
o MGMT. FUNCTION – PRODUCTION,
HUMAN RESOURCE MGMT., ARE
RELATED TO THE SUPPLY SIDE OF THE
MARKET.
o MORE CONCERNED ABOUT THE COST
ASPECTS OF THE BUSINESS
OPERATIONS.
MARKETING MANAGEMENT:
o TO SATISFY CUSTOMER NEEDS.
o AN ORGANISATION WOULD NOT
BE ABLE TO SURVICE WITHOUT
ITS CONSUMERS.
o CUSTOMER SOVERIEGNTY.
o SUCCESSFUL COMPANIES
POSSESS A POWERFUL
CUSTOMER DRIVEN CULTURE.
From Transaction-Based
Marketing to
Relationship Marketing
o Transaction–based
marketing (Simple
exchanges)

o Relationship marketing
n Lifetime value of a
customer
n Converting new customers
to advocates
Costs and Functions of
Marketing
o One-to-One Marketing
n Customized marketing program
designed to build long-term
relationships with individual customers.
n Identifying a firm’s best customers and
increasing their loyalty.
o Developing Partnerships and
Strategic Alliances
n Strategic Alliances: partnerships
between organizations that create
competitive advantages
MISCONCEPTIONS ABOUT
MARKETING:
o MARKETING AND SALES ARE
SIMILAR.
o MARKETING IS PROMOTIONS.
o MARKETING IS THE
RESPONSIBILITY OF THE
MARKETING DEPARTMENT.
MISCONCEPTION ABOUT
MARKETING
o MARKETING IS NOT SALES.
o SALES HAPPEN WHEN A SELLER SELLS
ITS PRODUCT TO THE CONSUMER
WITHOUT ACTUALLY THINKING WHAT
THE CONSUMER NEEDS OR WANTS.
o A PROPER MARKETING APPROACH
MEANS BEFORE A PRODUCT IS
RELEASED INTO THE MARTKET, THE
FIRM WOULD BE TRYING TO IDENTIFY
WHAT THE CONSUMERS NEED.
o FIRM WILL STRESSES ON
ESCELLENT AND MARKETABLE
PRODUCTS, CUSTOMERS DON’T
HAVE TO BE CHASED.
o CUSTOMER WILL LOOK FOR THE
FIRM OR PRODUCTS OFFERED BY
THE FIRM THAT FIT THEIR
REQUIREMENTS.
MARKETING IS NOT
PROMOTIONS:
o THE MARKETING SCOPE IS WIDER
SINCE MARKETING ACTIVITIES ARE
NOT LIMITED TO ONLY SALES
PROMOTIONS.
o MARKETING STARTS BY GETTING TO
KNOW THE CUSTOMER AND HIS NEEDS
FOLLOWED BY OFFERING THE RIGHT
PRODUCTS AT THE RIGHT PRICE AT
THE RIGHT PLACE AND AT THE RIGHT
TIME.
o PROMOTION IS PART OF THIS
ACTIVITIES.
MARKETING IS NOT THE SOLE
RESPONSIBILITY OF THE
MARKETING DEPARTMENT.
o FINANCIAL DEPT – MATTER RELATING
TO THE COMPANY’S FUND.
o THE HUMAN RESOURCE DEPT. –
RECRUTING AND TRAINING OD STAFF.
o PRODUCTION DEPT – ENSURING THE
COMPANY’S PRODUCTS COULD BE
PRODUCED CONSISTENTLY AND ON
SCHEDULE.
o EVERY DEPARTMENT IN THE FIRM
SHOULD CARRY OUT THIS
RESPONSIBILITY EQUALLY.
o PRODUCTION DEPT – MUST
PRODUCE PRODUCTS WHICH
CONSUMER WANTS AND NEEDS.
o PRODUCTION DEPT. – MUST LISTEN
TO THE MARKET.
o FIANNCIAL DEPT. – KEEN TO CUT
DOWN THE OPERATING COST AND
WOULD DISCOURAGE EFFORT TO
COMPETE IN THE LONG RUN WITH
OTHER COMPETITORS IN THE MARKET.
o INTEGRATED APPROACH TO
RESTRUCTURE THE FIRM BY FOCUSING
ON THE CONSUMER AS THE BASIS OF
ALL THE ACTIVITIES IN A FIRM.
INTEGRATED MARKETING
EFFORT
o NEEDS EVERY DEPARTMENT IN
THE FIRM TO BE CUSTOMER
DRIVEN AND WORJ TOGETHER
TOWARDS MEETING THE
CONSUMERS NEED.
THE IMPORTANCE OF
STUDYING MARKETING
MANAGEMENT
o TO CREATE CUSTOMER VALUE AND
SATISFACTION.- CONTINUES REVENUE
TO THE FIRM.
o STRATEGIC PALNNING OF THE
ORGANIZATION – FUTURE SALES,
PROFITABILITY.
o UPON WHICH OTHER FUNCTION OF
THE FIRM OPERATE – BASED ON THE
NEEDS OF THE CONSUMER.
THE IMPORTANCE OF
STUDYING MARKETING
MANAGEMENT
o NOT ONLY MANAGING THE CUSTOMER
BUT ALSO MANAGING THE
COMPETITION.
o SHOULD BE UNDERSTOOD DUE TO THE
DYNAMIC, VOLATILE AND RAPIDLY
CHANGING OF THE MARKETPLACE –
CSTOMER HAS BECOME MORE
SOPHISTACATED, DEMANDING AND
COMPETITION IS INTENSE.
THE IMPORTANCE OF
STUDYING MARKETING
MANAGEMENT
o GLOBALIZATION – CUSTOMER ARE
SMARTER WITH ACCESS TO MORE
INFORMATION IN THE GLOBAL
MARKET PLACE.
o INFORMATION COMMUNICATION
TECHNOLOGY TO ENHANCE THEIR
MARKETING SKILLS TO LOOK MORE
INFORMATION, BETTER PRODUCTS,
BETTER PRICE AND EXCHANGE BETTER
VALUE BY THE COMPETITORS.
Ethics and Social Responsibility:
Doing Well by Doing Good

o Increased Employee Loyalty

o Better Public Image

o Market Place Success

o Improved Financial Performance