SUBMITTED TO :DEAN MANNY MANAGUELOD [Company address] Thoughts on Marketing Management Syllabus:
Despite being a graduate in Accountancy I have always been fond of marketing
strategies, as they are one of the most important aspects of every product. One of the largest avenues for revenue today is the social media networks like “Facebook, Tik-tok, Instagram, Youtube and many others. Where content creators make entertainment for viewers. The viewers are then capitalized by marketing analyst creating short and straight forward ads. This marketing strategy allows businesses to instantly show and present their products to the markets, another tactic seen by the marketing is contracting content creators themselves to advertise their products. This has shown how marketing strategy’s evolutions through the years from a TV screen to content creators. For me marketing has always been the most important aspect of any product. You may have a good product but without a great marketing campaign you will be forgotten and that would be the death of your product. That is why many products nowadays are not only judged by its features but also its marketability. As many people say Money is the blood of the business, which is true, but marketing is the Air every business needs to survive as well. The syllabus is a well thought out process of marketing with research as well. Understanding our customer behavior and needs can help us plan an effective marketing strategy as well as forecasting future events can help the organization anticipate unfavorable situations to counter act this. A final note is about how the current Covid-19 pandemic affected many businesses, one notable strategy is seen in Jollibee during the pandemic, though many businesses were forced to shut down and leave their products to spoil. Jollibee instead sold their raw material products at a bargain price/discount where a lot of people took the this as an advantage. In hindsight customers might see this as a win-win situation but on a strategic point of view, Jollibee has successfully neutralized the threat of spoiling their goods as we all know top food businesses maintain a certain Quality Grade. Another strategy was them consigning goods to SM & Robinson Supermarkets allowing customers to access them. There are no perfect marketing strategies, but a good one can mean the difference between losing a large sum of money.