managing the marketing function - buenaagua, jun n

7/28/2019 Managing the Marketing Function - Buenaagua, Jun n.

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Managing the Marketing Function


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PRODUCTIVE SYSTEM

Important Parts of Productive Systems

Productive systems consist of six importantactivities as follows:1. Product design2. Production planning and scheduling3. Purchasing and materials management4. Inventory control5. Work flow layout6. Quality control


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PURCHASING AND MATERIALSMANAGEMENT

Firms need to purchase supplies and materials required in various

production activities.

INVENTORY CONTROL

Inventory control is the process of establishing and maintainingappropriate levels of reserve stocks of goods.

There are ways of achieving proper inventory control.


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They are as follows:

1. Determining reorder point and reorder quantity

2. Determining economic order quantity

3. The use of just-in-time (JIT) method of inventorycontrol

4. The use of the material requirement planning(MRP) method of planning and controllinginventories.


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WORK-FLOW LAYOUT

Work-flow layout is the process of determining the physical arrangement ofthe production system.

QUALITY CONTROL

Quality control refers to the measurement of products or services

against standards set by the company.


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A good work-flow layout will have the following benefits:

1. Minimize investment in equipment.

2. Minimize overall production time.

3. Use existing space most effectively.

4. Provide for employee convenience, safety, and comfort.

5. Maintain flexibility of arrangement and operation.

6. Minimize material handling cost.

7. Minimize variation in types of material-handling equipment.

8. Facilitate the manufacturing (or service) process.

9. Facilitate the organizational structure.


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Engineer manager are engage in the

production of tangible or intangible goods.

WHAT IS THE MARKETING CONCEPT?

Marketing is a group of activities designed to facilitate and expedite the

selling of goods and services.


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THE ENGINEER AND THE FOUR P'S OFMARKETING

1. The product (or service)

2. The price

3. The place

4. The promotion


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THE PRODUCT

In the marketing sense, the term "product" includes the tangible (orintangible) item and its capacity to satisfy a specific need.

THE PRICE

Price refers to "the money or other considerations exchanged for the

purchase or use of the product, idea, or service."


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THE PLACEIf every factor is equal, customers would prefer to buy from firms easily

accessible to them. If time is of the essence, the nearest firm will bepatronized.

1. Hiring sales agents to cover specific areas;

2. Selling to dealers in particular areas;

3. Establishing branches where customers arelocated;

4. Establishing franchises in selected areas.


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THE PROMOTION

When engineer managers have products or services to sell, they will have toconvince buyers to buy from them.

McCarthy and Perreault define promotion as "communicating informationbetween seller and potential buyer to influence attitudes and behavior."


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Promotional Tools

1. Advertising

2. Publicity

3. Personal Selling

4. Sales Promotion


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ADVERTISING

Nylen defines advertising as a paid message that appears in themass media for the purpose of informing or persuading people

about particular products, services, beliefs, or action."

PUBLICITYThe promotional tool that publishes news or information about a

product, service, or idea on behalf of a sponsor but is not paid for by thesponsor is called publicity.


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PERSONAL SELLING

A more aggressive means of promoting the sales of a product or serviceis called personal selling.

SALES PROMOTION

Any paid attempt to communicate with the customers other than

advertising, publicity, and personal selling, may be considered salespromotion.


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STRATEGIC MARKETING FOR ENGINEERS

1. Selecting a target market.

2. Developing a marketing mix.


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SELECTING A TARGET MARKETA market consists of individuals or organizations, or both, with the desire

and ability to buy a specific product or service.

1. Divide the total market into groups of people whohave relatively similar product or service needs.

2. Determine the profit potentials of each segment.

3. Make a decision on which segment or segments willbe served by the company.


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FACTORS USED IN SELECTING A TARGETMARKET

1. The size of the market, and

2. The number of competitors serving themarket.


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DEVELOPING A MARKETING MIX

After the target market has been identified, a marketing mix must becreated and maintained.


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managing the marketing function - buenaagua, jun n

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