Prestige Catalyzed by Marketing Management

The lecture of Professor Dr. Manfred Kirchgeorg about marketing management educates

not only me, but I believe everyone who watched the video. Different things caught my attention

and linger within me as I finished the talk. First and foremost is the existent substance of

marketing. It was explained that it is about satisfying customers' needs in a competitive

environment and that it is the whole company’s philosophy of customer orientation. This was

already explained to us during Senior high school so I am quite familiar with its denotation. Next

is the various marketing strategies presented to us. It is my first time hearing about the two-

substance growth strategy and Michael Porter’s cost leadership and market segmentation. It

created a new knowledge which is a huge aid in my marketing class. Lastly, the marketing mix,

or the 4P’s. I was reminded again that product is the heart of the business, price is setting right

price and condition, place ponders when and where will the customer receive the product, and

promotion is the communication. Acquiring and recalling these particulars, I can say that I can

use them not only during my class hour by reciting or answering exams, but also when I am

working. We, future accountants need to have this basic knowledge because it has a big factor in

our decision making. Understanding how the company is functioning within and without, we can

advise them to do or not do this.

1.

The last time I went to Jollibee was a few days back. Using the personal value equation, I

can assess that they have achieved their aim of being a market-oriented company - to satisfy my
needs and wants. The price for my order (and their other offerings) is in the right price and

condition. The only hassle on my part is the traveling time because I am quite far from Jollibee’s

location. Also, the waiting time is not that long. On the other hand, the benefit I received is I was

able to satisfy my cravings and hunger.