Managing The Marketing Function
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CHAPTER 11
MANAGING THE MARKETING FUNCTION
MANAGING THE MARKETING FUNCTION • ENGINEER MANAGERS ARE ENGAGED IN THE PRODUCTION OF TANGIBLE OR INTANGIBLE GOODS. SOME OF THESE ENGINEER MANAGERS ARE DIRECTLY RESPONSIBLE FOR MARKETING THE COMPANY’S PRODUCT OR SERVICES. • AT WHATEVER MANAGEMENT LEVEL THE ENGINEER MANAGER WORKS, HE MUST BE CONCERNED WITH CONVINCING OTHERS TO PATRONIZE HIS OUTPUTS. • IF HE IS THE GENERAL MANAGER OF A CONSTRUCTION FIRM, HE MUST CONVINCE PEOPLE WITH CONSTRUCTION NEEDS TO AVAIL OF THE SERVICES OF THE COMPANY. • IF HE IS THE STAFF OFFICER OF A TOP EXECUTIVE, HE MUST CONVINCE HIS BOSS TO CONTINUOSLY RELY ON HIM REGARDING THE STAFF SERVICES HE PROVIDES.
WHAT IS THE MARKETING CONCEPT MARKETING IS A GROUP OF ACTIVITIES DESIGNED TO FACILITATE AND EXPEDITE THE SELLING OF GOODS AND SERVICES.
THE MARKETING CONCEPT STATES THAT THE ENGINEER MUST TRY TO SATISFY THE NEEDS OF HIS CLIENTS BY MEANS OF A SET OF COORDINATED ACTIVITIES. WHEN CLIENTS ARE SATISFIED WITH WHAT THE COMPANY OFFERS, THEY CONTINUALLY PROVIDE BUSINESS.
THE ENGINEER AND THE FOUR P’S OF MARKETING 1. THE PRODUCT • “PRODUCT” INCLUDES THE TANGIBLE (OR INTANGIBLE) ITEM AND ITS CAPACITY TO SATISFY A SPECIFIC NEED. • THE SERVICES PROVIDED BY THE ENGINEER MANAGER WILL BE EVALUATED BY THE CLIENT ON THE BASIS OF WHETHER OR NOT HIS OR HER EXACT NEEDS ARE MET. • WHEN IMPROVEMENT IS NOT POSSIBLE, “EXTRAS” OR “BONUSES” ARE GIVEN TO CLIENTS.
THE ENGINEER AND THE FOUR P’S OF MARKETING THE ENGINEERING ORGANIZATION WILL BE ABLE TO MEET THE REQUIREMENTS OF ITS CLIENTS (OR CUSTOMERS) DEPENDING ON HOW IT USES THE FOUR P’S OF MARKETING WHICH ARE FOLLOWS:
1. THE PRODUCT (OR SERVICE) 2. THE PRICE 3. THE PLACE
4. THE PROMOTION
THE ENGINEER AND THE FOUR P’S OF MARKETING 2. THE PRICE • PRICE REFERS TO “MONEY OR OTHER CONSIDERATIONS EXCHANGED FOR THE PURCHASE OR USE OF THE PRODUCT, IDEA, OR SERVICE.
• SOME COMPANIES USE PRICE AS A COMPETITIVE TOOL OR AS MEANS TO CONVINCE THE CUSTOMER TO BUY. • WHEN PRODUCTS ARE SIMILAR IN QUALITY AND OTHER CHARACTERISTICS, PRICE WILL BE A STRONG ON FACTOR ON WHETHER OR NOT A SALE WILL BE MADE. • WHEN A TYPE OF SERVICE BECOMES STANDARDIZED, PRICE CAN BE A STRONG COMPETITIVE TOOL.
THE ENGINEER AND THE FOUR P’S OF MARKETING 3. THE PLACE • IF EVERY FACTOR IS EQUAL, CUSTOMERS WOULD PREFER TO BUY FROM FIRMS EASILY ACCESSIBLE TO THEM. • IT IS IMPORTANT FOR COMPANIES TO LOCATE IN PLACES WHERE THEY CAN BE EASILY REACHED BY THEIR CUSTOMERS.
• MEANS TO ELIMINATE OR MINIMIZE THE EFFECTS OF THE PROBLEM: 1.
HIRING SALES AGENTS TO COVER SPECIFIC AREAS
2.
SELLING TO DEALERS IN PARTICULAR AREAS
3.
ESTABLISHING BRANCHES WHERE CUSTOMERS ARE LOCATED
4.
ESTABLISHING FRANCHISES IN SELECTED AREAS
THE ENGINEER AND THE FOUR P’S OF MARKETING 4. THE PROMOTION
• PROMOTION IS COMMUNICATING INFORMATION BETWEEN SELLER AND POTENTIAL BUYER TO INFLUENCE ATTITUDES AND BEHAVIOR.( MCCARTHY AND PERREAULT) • PROMOTIONAL TOOLS AVAILABLE AND THE ENGINEER MANAGER MUST BE FAMILIAR WITH THEM IF HE WANT TO USE THEM EFFECTIVELY: 1.
ADVERTISING
2. PUBLICITY 3. PERSONAL SELLING 4. SALES PROMOTION
1.
ADVERTISING- PAID MESSAGE THAT APPEARS IN THE MASS MEDIA FOR THE PURPOSE OF INFORMING OR PERSUADING PEOPLE ABOUT PARTICULAR PRODUCTS, SERVICES, BELIEFS OR ACTION. (NYLEN)
2.
PUBLICITY- THE PROMOTIONAL TOOL THAT PUBLISHES NEWS OR INFORMATION ABOUT A PRODUCT, SERVICE OR IDEA ON BEHALF OF A SPONSOR BUT IS NOT PAID FOR BY THE SPONSOR.
3.
PERSONAL SELLING-ORAL PRESENTATION IN A CONVERSATION WITH ONE OR MORE PROSPECTIVE PURCHASERS FOR THE PURPOSE OF MAKING A SALE
4.
SALES PROMOTION- ANY PAID ATTEMPT TO COMMUNICATE WITH THE CUSTOMERS OTHER THAN ADVERTISING, PUBLICITY AND PERSONAL SELLING.
STRATEGIC MARKETING FOR ENGINEERS • STEPS FOR STRATEGIC MARKETING 1.
SELECTING A TARGET MARKET
2.
DEVELOPING A MARKETING MIX
• STEPS IN SELECTING A TARGET MARKET 1. DIVIDE THE TOTAL MARKET INTO GROUPS OF PEOPLE WHO HAVE RELATIVELY SIMILAR PRODUCT OR SERVICE NEEDS 2. DETERMINE THE PROFIT POTENTIALS OF EACH SEGMENT 3. MAKE A DECISION ON WHICH SEGMENT OR SEGMENTS WILL SERVED BY THE COMPANY
• FACTORS USED IN SELECTING A TARGET MARKET 1.
THE SIZE OF THE MARKET
2.
THE NUMBER OF COMPETITORS SERVING THE MARKET
THE CONSTRUCTION MARKET AND ITS SEGMENTS
THE COMPANY, THE MARKETING MIX AND THE TARGET MARKET
END BY: MICA PAULENE TIBAYAN
BS CPE/CE501
MANAGING THE MARKETING FUNCTION
MANAGING THE MARKETING FUNCTION • ENGINEER MANAGERS ARE ENGAGED IN THE PRODUCTION OF TANGIBLE OR INTANGIBLE GOODS. SOME OF THESE ENGINEER MANAGERS ARE DIRECTLY RESPONSIBLE FOR MARKETING THE COMPANY’S PRODUCT OR SERVICES. • AT WHATEVER MANAGEMENT LEVEL THE ENGINEER MANAGER WORKS, HE MUST BE CONCERNED WITH CONVINCING OTHERS TO PATRONIZE HIS OUTPUTS. • IF HE IS THE GENERAL MANAGER OF A CONSTRUCTION FIRM, HE MUST CONVINCE PEOPLE WITH CONSTRUCTION NEEDS TO AVAIL OF THE SERVICES OF THE COMPANY. • IF HE IS THE STAFF OFFICER OF A TOP EXECUTIVE, HE MUST CONVINCE HIS BOSS TO CONTINUOSLY RELY ON HIM REGARDING THE STAFF SERVICES HE PROVIDES.
WHAT IS THE MARKETING CONCEPT MARKETING IS A GROUP OF ACTIVITIES DESIGNED TO FACILITATE AND EXPEDITE THE SELLING OF GOODS AND SERVICES.
THE MARKETING CONCEPT STATES THAT THE ENGINEER MUST TRY TO SATISFY THE NEEDS OF HIS CLIENTS BY MEANS OF A SET OF COORDINATED ACTIVITIES. WHEN CLIENTS ARE SATISFIED WITH WHAT THE COMPANY OFFERS, THEY CONTINUALLY PROVIDE BUSINESS.
THE ENGINEER AND THE FOUR P’S OF MARKETING 1. THE PRODUCT • “PRODUCT” INCLUDES THE TANGIBLE (OR INTANGIBLE) ITEM AND ITS CAPACITY TO SATISFY A SPECIFIC NEED. • THE SERVICES PROVIDED BY THE ENGINEER MANAGER WILL BE EVALUATED BY THE CLIENT ON THE BASIS OF WHETHER OR NOT HIS OR HER EXACT NEEDS ARE MET. • WHEN IMPROVEMENT IS NOT POSSIBLE, “EXTRAS” OR “BONUSES” ARE GIVEN TO CLIENTS.
THE ENGINEER AND THE FOUR P’S OF MARKETING THE ENGINEERING ORGANIZATION WILL BE ABLE TO MEET THE REQUIREMENTS OF ITS CLIENTS (OR CUSTOMERS) DEPENDING ON HOW IT USES THE FOUR P’S OF MARKETING WHICH ARE FOLLOWS:
1. THE PRODUCT (OR SERVICE) 2. THE PRICE 3. THE PLACE
4. THE PROMOTION
THE ENGINEER AND THE FOUR P’S OF MARKETING 2. THE PRICE • PRICE REFERS TO “MONEY OR OTHER CONSIDERATIONS EXCHANGED FOR THE PURCHASE OR USE OF THE PRODUCT, IDEA, OR SERVICE.
• SOME COMPANIES USE PRICE AS A COMPETITIVE TOOL OR AS MEANS TO CONVINCE THE CUSTOMER TO BUY. • WHEN PRODUCTS ARE SIMILAR IN QUALITY AND OTHER CHARACTERISTICS, PRICE WILL BE A STRONG ON FACTOR ON WHETHER OR NOT A SALE WILL BE MADE. • WHEN A TYPE OF SERVICE BECOMES STANDARDIZED, PRICE CAN BE A STRONG COMPETITIVE TOOL.
THE ENGINEER AND THE FOUR P’S OF MARKETING 3. THE PLACE • IF EVERY FACTOR IS EQUAL, CUSTOMERS WOULD PREFER TO BUY FROM FIRMS EASILY ACCESSIBLE TO THEM. • IT IS IMPORTANT FOR COMPANIES TO LOCATE IN PLACES WHERE THEY CAN BE EASILY REACHED BY THEIR CUSTOMERS.
• MEANS TO ELIMINATE OR MINIMIZE THE EFFECTS OF THE PROBLEM: 1.
HIRING SALES AGENTS TO COVER SPECIFIC AREAS
2.
SELLING TO DEALERS IN PARTICULAR AREAS
3.
ESTABLISHING BRANCHES WHERE CUSTOMERS ARE LOCATED
4.
ESTABLISHING FRANCHISES IN SELECTED AREAS
THE ENGINEER AND THE FOUR P’S OF MARKETING 4. THE PROMOTION
• PROMOTION IS COMMUNICATING INFORMATION BETWEEN SELLER AND POTENTIAL BUYER TO INFLUENCE ATTITUDES AND BEHAVIOR.( MCCARTHY AND PERREAULT) • PROMOTIONAL TOOLS AVAILABLE AND THE ENGINEER MANAGER MUST BE FAMILIAR WITH THEM IF HE WANT TO USE THEM EFFECTIVELY: 1.
ADVERTISING
2. PUBLICITY 3. PERSONAL SELLING 4. SALES PROMOTION
1.
ADVERTISING- PAID MESSAGE THAT APPEARS IN THE MASS MEDIA FOR THE PURPOSE OF INFORMING OR PERSUADING PEOPLE ABOUT PARTICULAR PRODUCTS, SERVICES, BELIEFS OR ACTION. (NYLEN)
2.
PUBLICITY- THE PROMOTIONAL TOOL THAT PUBLISHES NEWS OR INFORMATION ABOUT A PRODUCT, SERVICE OR IDEA ON BEHALF OF A SPONSOR BUT IS NOT PAID FOR BY THE SPONSOR.
3.
PERSONAL SELLING-ORAL PRESENTATION IN A CONVERSATION WITH ONE OR MORE PROSPECTIVE PURCHASERS FOR THE PURPOSE OF MAKING A SALE
4.
SALES PROMOTION- ANY PAID ATTEMPT TO COMMUNICATE WITH THE CUSTOMERS OTHER THAN ADVERTISING, PUBLICITY AND PERSONAL SELLING.
STRATEGIC MARKETING FOR ENGINEERS • STEPS FOR STRATEGIC MARKETING 1.
SELECTING A TARGET MARKET
2.
DEVELOPING A MARKETING MIX
• STEPS IN SELECTING A TARGET MARKET 1. DIVIDE THE TOTAL MARKET INTO GROUPS OF PEOPLE WHO HAVE RELATIVELY SIMILAR PRODUCT OR SERVICE NEEDS 2. DETERMINE THE PROFIT POTENTIALS OF EACH SEGMENT 3. MAKE A DECISION ON WHICH SEGMENT OR SEGMENTS WILL SERVED BY THE COMPANY
• FACTORS USED IN SELECTING A TARGET MARKET 1.
THE SIZE OF THE MARKET
2.
THE NUMBER OF COMPETITORS SERVING THE MARKET
THE CONSTRUCTION MARKET AND ITS SEGMENTS
THE COMPANY, THE MARKETING MIX AND THE TARGET MARKET
END BY: MICA PAULENE TIBAYAN
BS CPE/CE501
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