Week 1 Discussion 1
Why is Marketing Management Important?
For me Marketing Management is important in every firm and business no matter how small
or big the firm or business is. For me it is the heart of the firm or business. Since for me
everything revolves around Marketing Management for it is there that the Manager or the
CEO and the employees with the different departments depend upon. For me Marketing
Management is a system where the firm or business is able to cater the needs of the
consumers as well as for the firm or business to achieve profit in return for the goods or
services that they produce and supply the demands of the consumer.
For me, there is got to be a system or a Marketing Management in order to see and visualize
how the firm or business go through all the way from production, to distribution, until their
product, goods or services reach the consumers. And in order to have a continuous smooth
flow in the profit gaining firm or business even amidst the inevitable troubles, conflicts or
problems that the firm or business encounters along the way.
For me, Marketing Management deals with the relationship of the manager or the CEO, the
employees as well as the customers. Being able to address the problems that each employee
in their line of work and being able to give a solution right into them would really prevent small
problems turning into bigger problems in the future. Being able to address the needs of the
consumer , benefits not only the consumer but also the firm or the business so they can
better their service or products. Thus, the success of the firm or the business does not solely
rely upon the marketing management itself but also the cooperation of each member of the
firm or business in order to achieve the firm’s or the business’s goal.
For me, I think Marketing Management is the foundation or the blueprint of every business or
firm. Since from the Branding or the entitling the name of the firm or business, to knowing
what goods or services to produce, to the usage of different Marketing Channels in order that
their product or services reach to their target markets. It is the blueprint or foundation since
being able to have a good Marketing Management, the manager or the CEO would be able to
see whether starting this firm or business would be feasible or a profitable.
Thus, Marketing Management is important for the firm or business even before the firm or
business is established, since for me a business or firm ought to have an organized flow
system or Marketing Management in order to address the inevitable problems, troubles that
the firm or business would face and also to be able to device some strategies to better the
firm’s or the business’s profit, to better their relationship with the members of the firm or
business and their consumer or target markets. Thus, in the end of the day, the customers or
consumers are happy with the product, good or services which they have acquired and the
firm or business is happy for their consumers as well and at the same time gain profit for the
products, goods or services that they have provided their customers, Thus, in the end of the
day it’s a Win-Win situation for both producer and consumers.
Week 1 Assignment 1
Think about a recent time when you bought something or tried to do so and you were treated
poorly as a customer. What was the essential problem? If you ran the company, what would you
do to ensure happier and more loyal customers?
Being a customer of a certain online hardware store is very unsatisfactory for me with regards to
their customer services. Although they have a good purchasing platform and payment options. Yet
the problem is their communication with their customers in following up where the product is
travelling already or how to track the purchased product.
If I was running the company, in order to ensure a loyal and happier customers, I would hire IT
specialist to fix the problem regarding the company’s shipment or delivery system and online
tracking system. It would be great that the company not only provide a website in order to
purchase their product or services, but it would be great to have an accessible mobile app for both
android and iphone users so as the customer’s would easily be able to track their purchased
product.
Although the company has already a discount system, I would suggest a loyalty card system that
enables the customers to gain points which when accumulated to a certain amount would be able
to use to purchase other products from their hardware store. Points which could turn into
discounts or cash equivalents would be great so that customers would be loyal to their hardware
store.
Week 1 Video Lecture Link:
https://www.youtube.com/watch?v=KPLpcXhjvmk&feature=emb_logo