FGA – 2 – Marketing Function

What is marketing concept?

When making an action to learn as much about the customer as possible, a company adopts the different
targeting philosophies, combined with decisions base promotion, commodity and even policy decisions
on marketing concept. It is acknowledged by all organizations and companies that the customers are the
driving force behind the success of their businesses. Thus, it success is correlated to whatever the
customer’s needs and wants. It was based on the theory made by Adam Smith in 1776 in his book The
Wealth of the Nation holding on the idea that producers should focus on the needs of the customers.

5 Concepts/Strategies of Marketing
Concepts followed by different
companies

1. Production Concept
2. Product Concept
3. Selling Concept
4. Marketing Concept
5. Societal Marketing Concept

Production Concept – It is the idea

that consumers will tend to buy
cheaper and readily available
products rather than raw goods.
However, this will fail as the
production costs will be added to produce the different goods needed by the consumers. This will open an
avenue for the company to study and determine the needs of the people to produce products at a price
based on their production costs.

Product Concept – Aside from the needs and wants of the consumers, it is not enough to just meet the
number of demand. Customers will lean and favor to products that could offer higher quality and
performance. This ideology pushes companies to improve their products hopeful that it would sell
eventually.

Selling Concept – Basically, a well promoted product would sell more than others without proper
advertisement. Regardless of the quality, consumers prefer products widely used by many. It is like
feeding different promotions of the same products over and over again even if it doesn’t satisfy the need
of the consumers. For the management, the satisfaction will not matter as long as the product sells.

Marketing Concept – It is where the famous line “Customer first” came from. It is the ideal goal of the
entire organization/company and not just the marketing department. The satisfaction of the customers
should be prioritized by listening to their feedbacks and opinions with the products. Moreover, once the
wants and needs of the consumers are met, the product will be successful.
Societal Marketing Concept

The ideal intention of every organization/company should benefit the customers and the well-being of the
society and environment. Improving their product to satisfy the growing demand is already given but then
again, does it harm the growth of the economy and help preserve the environment? These questions
already transcend marketing as these do not talk only the paying consumers but the social and
environmental impact of the product as well.

What are the 4Ps of Marketing?

The 4Ps of marketing is a strategy developed by Neil Borden in 1950s. It is also known as the marketing
mix as it tackles compelling campaign/advertising ideas for both traditional advertising and
modern/digital marketing.
 a. Product
Basically, product is the foundation of the 4Ps of marketing. This is the tangible objects and
intangible services offered by the company/organization. Without it, there is nothing to offer to
the consumers. Moreover, the company’s product is the signature of the organization. It is
important to design and to create products distinct of other competition available in terms of
functionality, quality, safety, warranty, packaging, accessories and brand image.
b. Price
It is the deciding factor for the consumers to choose what product they’re going to buy. Besides,
price usually reflects the benefits of the product or service offered. Most of the time, low
commodities have low performance expectation compared to the high-priced items. Then again, it
is up to the company to come up with a reasonable price for their customers.
c. Place
It refers to the accessibility of the products and services to the customers. Understanding the
target market would drastically influence the flow and success of the business. In addition, having
a middleman or resellers nowadays is booming. Online stores become available to everyone and
improve the distribution of different goods and services.
d. Promotion
It is the most recognizable among the Ps of marketing. It comes with the different advertisements,
sales promotions and PR efforts. The way on how the marketing management promotes the brand
affects how the consumers perceive the product. A strong brand promotion will help the
consumers to know what kind of product they will be buying and could somehow, determine the
price the product/service being offered.

What are the marketing strategies of the new engineer in today’s economy?

Nowadays, competition in the field of engineering is tough. Different strategies to come up with market, a
contractor for example, need complex planning within the company before its proposal. Strategic
marketing plans of engineers should at least put up with these four strategies:

1. Commitment

Commitment is the first step in the strategic marketing plan. It will involve the developers, project
managers, marketers, and lead engineers. These people are involved in bringing in or retaining clients
and projects as they are the brain and face of the whole company. Within these people, brainstorming
of ideas will include different proposals, presentations, sponsorships, customer feedback, promotion
of the products, brochures, public relations, advertising and social media.

2. Implementation

Implementation of the plan will be a success when communication for both internal and external
teams is fluid. Teamwork is the key for the entire firm to execute their plan accordingly. When the
employees understand how their role within the company works, there would be no delays and
increase the credibility of the company to follow scheduled actions.

3. Team accountability

Having a scorecard of the finished actions will help the tracking of the entire project. This will also
help to keep tract on where the delay may come from to arrange preventive measures to improve the
project. Moreover, scorecards could help evaluating the cases where the goals are met on time and
why others didn’t.

4. Success celebration

Once the task is done, celebration of the entire team is necessary whether it is enormous or not.
Celebration of accomplishing goals will help recognizing the hard work of the team that contributed
in reaching it. Moreover, it will boost the morale of the employees and will motivate them to continue
their hard work.