As described in the above, the bank has designed appropriate micro business banking segment with proper CVP that can increase customer experience through provision of alternative products and customized pricing. Consequently, it has already designed micro business saving and credit product to be availed through the bank’s credit process and mobile money solution to deliver customer tailored product and services for underserved and un-served segment of the society. Besides, it is working to design more customer tailored products and services like start-up financing, women financing, rural farmer financing for financially excluded groups. Serving these segments of the society can create/provide multiple opportunities of the bank like improve customer base, increase wallet share, enhance financial inclusion and avail equal financial service for the society as a large.
Where banks traditionally did not reach populations, the rapid growth of mobile networks and subscriptions has offered a distribution technology for mobile financial services. As therefore, the bank will use digital platform like mobile money and others as an outreach channel to sell its micro saving and credit products. It obvious fact that micro businesses are underserved and un-served segment of an economy by traditional outreach cannels of the banks even though they play a significant role in employment creation and poverty reduction. Availing financial services for micro businesses by using mobile financial services would bring remarkable results for the development of the organizations, financial institutions and the nations. Other traditional outreach channels can play a great role to offer diversified products and services for target customers in which digital platforms are inaccessible and impracticable to do so. However, communicating the product, brand or service to the customers and creating financial and digital awareness for them via various channels is an essential subject to realize the intended objectives. Thus, marketing campaign is highly valuable in business to retain the existed customer and seek the attention of new customers. In stiff business competition environment, it is a challenge to cut through the plethora of messages found in digital and traditional media spaces. By regularly communicating with its target audience, a business can improve its visibility. This communication is primarily achieved through marketing campaigns. It is defined as a strategic sequence of steps and activities that promote company’s product or service with a specific goal in mind. Marketing campaign promotes products through different types of media, such as television, radio, print, and online/digital platforms. As it well known, marketing campaigns can be designed with different goals in mind, including building a brand image, introducing a new product, increasing sales of a product already on the market, or even reducing the impact of negative news.
The document provides an introduction to marketing management and marketing functions. It discusses key concepts in marketing including definitions of marketing, marketing management, and objectives of marketing. It also covers topics such as the marketing mix, marketing philosophies and evolution of marketing concepts, core marketing concepts involving needs, wants and demands, target markets and positioning, offerings and brands, value and satisfaction, marketing channels, supply chain, competition, and the marketing environment. The functions of marketing management are also outlined.
This document provides an introduction and overview of key marketing concepts including needs, wants and demands, products, exchange and transactions, markets, and different marketing concepts such as production, product, selling, marketing, and societal concepts. It also discusses the importance of marketing and analyzing the internal and external marketing environment, including factors such as economic, demographic, social/cultural, political/legal, and technological environments. Finally, it compares the differences between selling and marketing orientations.
Dr. Thomas Eppel - Management 1 Chapter 13,14 : Marketingsumguy
The document discusses key concepts in marketing including the 4 P's of marketing (product, place, price, promotion), market segmentation, product development, packaging and branding, and pricing strategies. It defines what a product is, different types of products, and the product development process. It also outlines the product life cycle and discusses how products are packaged and branded to differentiate them. Pricing strategies like cost-based pricing, competition-based pricing, and break-even analysis are summarized.
Basic introduction to marketing 26 07-2016suchet mahajan
This document provides a basic introduction to marketing. It defines marketing as identifying and meeting human and social needs profitably. The document outlines the nature of marketing as a specialized business function and social process. It discusses the importance of marketing for financial success and customer satisfaction. The document then covers different marketing orientations from production to societal marketing concepts. It concludes by describing core marketing concepts like segmentation, targeting, positioning, and the marketing environment.
1. Marketing involves all activities related to moving goods and services from producers to consumers, including branding, distribution, advertising, promotion, research, development, and sales.
2. Successful marketing efforts increase brand equity or the value of the brand through consistent use of elements like slogans, logos, and names to ensure brand recognition.
3. The product life cycle describes how the popularity and sales of products change over time through introduction, growth, maturity, and decline. Marketing strategies must adapt to the changing demands at each stage.
The document defines key marketing concepts and terms. It discusses that marketing involves satisfying customer needs through a product or service offering at a reasonable price that is conveniently available and communicated about. The marketing mix refers to the combination of product, price, place, and promotion tools used by marketers to achieve their objectives in a target market. Marketing management involves choosing target markets, attracting and retaining customers, and creating superior value through products and communication.
This document provides an overview of marketing management concepts. It discusses key marketing terms like customer, need, want, demand, product, and market. It also defines merchandising and explains the difference between marketing and selling. Additionally, it outlines the value of marketing in creating different types of value for customers. The document then discusses important marketing concepts like the marketing mix, product management, pricing strategies, and more. It provides high-level information on various fundamental aspects of marketing management.
The document provides an introduction to marketing management and marketing functions. It discusses key concepts in marketing including definitions of marketing, marketing management, and objectives of marketing. It also covers topics such as the marketing mix, marketing philosophies and evolution of marketing concepts, core marketing concepts involving needs, wants and demands, target markets and positioning, offerings and brands, value and satisfaction, marketing channels, supply chain, competition, and the marketing environment. The functions of marketing management are also outlined.
This document provides an introduction and overview of key marketing concepts including needs, wants and demands, products, exchange and transactions, markets, and different marketing concepts such as production, product, selling, marketing, and societal concepts. It also discusses the importance of marketing and analyzing the internal and external marketing environment, including factors such as economic, demographic, social/cultural, political/legal, and technological environments. Finally, it compares the differences between selling and marketing orientations.
Dr. Thomas Eppel - Management 1 Chapter 13,14 : Marketingsumguy
The document discusses key concepts in marketing including the 4 P's of marketing (product, place, price, promotion), market segmentation, product development, packaging and branding, and pricing strategies. It defines what a product is, different types of products, and the product development process. It also outlines the product life cycle and discusses how products are packaged and branded to differentiate them. Pricing strategies like cost-based pricing, competition-based pricing, and break-even analysis are summarized.
Basic introduction to marketing 26 07-2016suchet mahajan
This document provides a basic introduction to marketing. It defines marketing as identifying and meeting human and social needs profitably. The document outlines the nature of marketing as a specialized business function and social process. It discusses the importance of marketing for financial success and customer satisfaction. The document then covers different marketing orientations from production to societal marketing concepts. It concludes by describing core marketing concepts like segmentation, targeting, positioning, and the marketing environment.
1. Marketing involves all activities related to moving goods and services from producers to consumers, including branding, distribution, advertising, promotion, research, development, and sales.
2. Successful marketing efforts increase brand equity or the value of the brand through consistent use of elements like slogans, logos, and names to ensure brand recognition.
3. The product life cycle describes how the popularity and sales of products change over time through introduction, growth, maturity, and decline. Marketing strategies must adapt to the changing demands at each stage.
The document defines key marketing concepts and terms. It discusses that marketing involves satisfying customer needs through a product or service offering at a reasonable price that is conveniently available and communicated about. The marketing mix refers to the combination of product, price, place, and promotion tools used by marketers to achieve their objectives in a target market. Marketing management involves choosing target markets, attracting and retaining customers, and creating superior value through products and communication.
This document provides an overview of marketing management concepts. It discusses key marketing terms like customer, need, want, demand, product, and market. It also defines merchandising and explains the difference between marketing and selling. Additionally, it outlines the value of marketing in creating different types of value for customers. The document then discusses important marketing concepts like the marketing mix, product management, pricing strategies, and more. It provides high-level information on various fundamental aspects of marketing management.
The word ‘Market’ is derived from the Latin word ‘Marcatus’, means a place where business is conducted.
A market is a place which allows the purchaser and the seller to invent and gather information and lets them carry-out exchange of various products and services. In other words, the meaning of market refers to a place where the trading of goods takes place.
Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges which satisfy individual and organizational objectives
Marketing is an effective way of engaging customers
Marketing helps to build and maintain the company’s reputation.
Marketing helps to build a relationship between a business and its customers
Marketing is a communication channel used to inform customers
Marketing helps to boosts sales
Marketing aids in providing insights about your business
Marketing helps your business to maintain relevance
Marketing creates revenue options
Marketing helps the management team to make informed decisions
1. Marketing is defined as the process of creating, communicating, and delivering value to customers and managing relationships. It involves a variety of activities like market research, product development, pricing, promotion, and distribution.
2. The key differences between traditional and modern marketing are that traditional marketing focused on selling products, while modern marketing is customer-oriented. Traditional marketing also used limited advertising methods, while modern marketing utilizes various channels including social media.
3. The marketing concept focuses on customer needs and satisfaction. It involves identifying target markets and coordinating all business activities to influence customers. The selling concept focuses on persuading customers to buy what the company produces through aggressive promotion.
Marketing involves all activities related to moving goods and services from producers to consumers. It has two key roles - selling what a business produces and managing its brand. Marketing activities include branding, distribution, advertising, promotion, research, development, and sales. Successful marketing increases brand equity or value through establishing a brand name, logo, slogan and consistent brand identification that connects with consumers over the product life cycle.
This document discusses key marketing concepts including needs, wants, exchange, market, goods, and familiarity with marketing systems. It defines marketing as satisfying customer needs through the development, promotion, and distribution of products. It also discusses the marketing mix of product, price, place, and promotion and how organizations market products, services, and experiences.
What is the product _ Things to know about product life cycle.pdfraufkhalid104
When talking about products, people often think " products are specific physical things, things that we can observe, hold, and touch) .
But in the business market, products are defined completely differently. It is in a much broader category than what the definition above states.
Marketing deals with identifying and meeting human and social needs through exchange and transactions between two or more parties. Marketers are involved in marketing 10 types of entities including goods, services, events, experiences, persons, places, properties, organizations, information, and ideas. Traditionally, a market was a physical place where buyers and sellers gathered, but now it also includes digital marketspaces and metamarkets that combine related products across industries. Effective marketing requires understanding needs, wants, and demands; segmenting and positioning the market; developing and communicating value to customers; and using strategic planning to achieve organizational goals.
The document discusses the key elements of marketing: research, product development, and communication. It then summarizes the marketing mix, which consists of the 4 P's - product, price, place, and promotion. Product involves the tangible good or intangible service being offered. Price determines how much customers pay. Place covers distribution channels and logistics. Promotion encompasses advertising, sales, and other communication efforts to persuade customers. The marketing mix framework is fundamental in developing a marketing strategy.
CHAPTER 19 BUSINESS STUDIES NIOS XII
meaning of marketing;
differentiate between ‘marketing’ and ‘selling’;
importance of marketing
objectives of marketing
functions of marketing
The document discusses key marketing concepts including:
- The definition of marketing as a social and managerial process to satisfy needs through product creation and exchange.
- The objectives of marketing which include increasing sales, creating goodwill, profit through customer satisfaction, and more.
- The distinction between marketing and selling, where marketing focuses on customer needs and selling focuses on product sales.
- Marketing classifications based on place, time, and competition.
- An overview of marketing management and the production, product, selling, marketing, and societal concepts in marketing.
This document outlines the key elements of marketing. It discusses the modern marketing concept and different approaches to studying marketing like industrial, consumer, and services marketing. It also covers important marketing topics like consumer behavior, market segmentation, the marketing mix, product planning and development, pricing policies, promotion mix, and personal selling. The document provides a syllabus and outlines lessons that will be covered, including marketing definitions, the marketing concept, consumer behavior, and the product life cycle.
Product life cycle and marketing management strategiesAnanthK20
The document discusses the product life cycle and marketing strategies used at each stage. It explains that all products go through stages of development, introduction, growth, maturity, and decline. To be successful during each phase, companies must understand customer needs, markets, and competitors, and how to apply the appropriate marketing mix of product, price, place, and promotion strategies. As a product moves from introduction to decline, companies shift strategies from heavy promotion and building demand, to increasing competition and price reductions. The goal is to recognize a product's stage and set performance targets to improve success throughout its lifetime.
The document discusses marketing concepts and the marketing mix. It defines marketing concepts as the philosophies adopted by companies to market their products. It then outlines traditional concepts like the exchange concept versus modern concepts like the marketing concept. The marketing mix is introduced as the combination of product, price, place, and promotion strategies used to satisfy the target market. The roles of each element are defined, along with other factors like packaging, people, and politics. The document provides details on how the marketing mix elements can be blended to meet customer needs.
The document discusses marketing concepts including needs, wants, demands, products, value, satisfaction, exchange, transactions, and definitions of marketing. It then provides more detail on marketing functions including selling, buying, transportation, storage, standardization, grading, financing, risk taking, and market information gathering. Marketing is defined as identifying and satisfying customer needs profitably by creating value. The key marketing functions aim to facilitate the exchange of goods and services from producers to consumers.
This document provides an overview of key marketing concepts including defining marketing, the marketing mix, the marketing environment, marketing research, customer value and satisfaction, and analyzing consumer markets.
It defines marketing as meeting human and social needs profitably and involves identifying target markets and growing customers. The marketing mix consists of the 4 P's - product, price, place and promotion. Understanding the macro environment through trends, forces and research is important. Marketing research involves defining problems and objectives, developing a research plan, collecting and analyzing information. Creating customer value and satisfaction is key to retaining customers. Analyzing factors like culture, social groups, and roles that influence consumer buying behavior is also discussed.
The document provides an introduction to marketing concepts. It defines marketing as the process of moving products from concept to customer through identifying demand, price, and distribution channels. The marketing mix is also introduced, which comprises the four Ps - product, price, place, and promotion. Core marketing concepts are then defined, including needs, wants, demand, product, utility, cost, satisfaction, exchange, and relationships. The document also discusses different marketing concepts such as production, product, selling, marketing, and societal marketing concepts. Finally, it provides definitions of key elements of the marketing mix - product, price, place, and promotion.
The document discusses various topics related to marketing such as definitions of marketing, goals of marketing, concepts of marketing including the production concept, product concept, and marketing concept, approaches to marketing including the commodity, institutional, and functional approaches, nature and scope of marketing, and functions of marketing. It provides an overview of fundamental marketing principles and frameworks.
The document discusses marketing management and the marketing mix. It provides an overview of the key elements of marketing management including marketing research, market planning, product development, packaging, branding, pricing, promotion, distribution, and customer service. It also outlines different marketing philosophies including the production concept, product concept, selling concept, marketing concept, and social marketing concept. Finally, it discusses each element of the marketing mix - product, price, place, and promotion - and provides important questions to consider for each element.
Marketing management book @ bec doms bagalkot mbaBabasab Patil
This document provides an overview of marketing management concepts across 6 units. It discusses key topics such as the modern marketing concept, social marketing concept, marketing environment, consumer behavior, marketing research, product mix management, product-market integration, price mix management, physical distribution mix, and promotional mix. The goals are to understand approaches to marketing, segmentation, the marketing mix, determinants of consumer behavior, marketing procedures, product planning, pricing policies, distribution channels, and components of promotion.
Marketing management book @ bec doms bagalkot mbaBabasab Patil
This document outlines 6 units of a marketing management course. The key concepts discussed include the modern marketing concept, social marketing concept, marketing environment, consumer behavior, marketing research, product mix management, product-market integration, price mix management, physical distribution mix, and promotional mix. The modern marketing concept focuses on determining consumer needs and wants and satisfying them through an integrated marketing approach.
ADVICE TO ALL EMPLOYEES
1. Build a home earlier. Be it rural home or urban home. Building a house at 50 is not an achievement. Don't get used to government houses. This comfort is so dangerous. Let all your family have good time in your house.
2. Go home. Don't stick at work all the year. You are not the pillar of your department. If you drop dead today, you will be replaced immediately and operations will continue. Make your family a priority.
3. Don't chase promotions. Master your skills and be excellent at what you do. If they want to promote you, that's fine if they don't, stay positive to your personal.
development.
4. Avoid office or work gossip. Avoid things that tarnish your name or reputation. Don't join the bandwagon that backbites your bosses and colleagues. Stay away from negative gatherings that have only people as their agenda.
5. Don't ever compete with your bosses. You will burn your fingers. Don't compete with your colleagues, you will fry your brain.
6. Ensure you have a side business. Your salary will not sustain your needs in the long run.
7. Save some money. Let it be deducted automatically from your payslip.
8. Borrow a loan to invest in a business or to change a situation not to buy luxury. Buy luxury from your profit.
9. Keep your life,marriage and family private. Let them stay away from your work. This is very important.
10. Be loyal to yourself and believe in your work. Hanging around your boss will alienate you from your colleagues and your boss may finally dump you when he leaves.
11. Retire early. The best way to plan for your exit was when you received the employment letter. The other best time is today. By 40 to 50 be out.
12. Join work welfare and be an active member always. It will help you a lot when any eventuality occurs.
13.Take leave days utilize them by developing yr future home or projects..usually what you do during yr leave days is a reflection of how you'll live after retirement..If it means you spend it all holding a remote control watching series on Zee world, expect nothing different after retirement.
14. Start a project whilst still serving or working. Let your project run whilst at work and if it doesn't do well, start another one till it's running viably. When your project is viably running then retire to manage your business. Most people or pensioners fail in life because they retire to start a project instead of retiring to run a project.
15. Pension money is not for starting a project or buy a stand or build a house but it's money for your upkeep or to maintain yourself in good health. Pension money is not for paying school fees or marrying a young wife but to look after yourself.
16. Always remember, when you retire never be a case study for living a miserable life after retirement but be a role model for colleagues to think of retiring too.
17. Don't retire just because you are finished or you are now a burden to the company and just wait for your day t
Entrepreneurship Short Note.pptx for Business Studentsetebarkhmichale
Success demands these 6 things..
(The Secret Formula)
1. Hard Work
Don't believe in luck, believe in hard work.
Stop trying to rush the process or searching for a shortcut.
There is none.
2. Patience
If you are losing the patience, you are losing the battle.
First nothing happens, then it happens slowly and suddenly all at once.
Most people give up at stage one.
3. Sacrifice
If you don't sacrifice for what you want, then what you want becomes the sacrifice.
Everything has its price. The question is: Are you ready to pay it for the life you desire?
4. Consistency
Consistency is what transforms average into excellence.
Without consistency, you will never achieve greater success.
5. Discipline
Motivation gets you going, but discipline keeps you growing.
There will be days when you don't “feel” like doing it.
You have to push through those days regardless of how you feel.
6. Self Confidence
Confidence is, I'll be fine if they don't like me.
GOD BLESS YOU🙏❤️
EYA Oliver Uchenna®️
Success demands these 6 things..
(The Secret Formula)
1. Hard Work
Don't believe in luck, believe in hard work.
Stop trying to rush the process or searching for a shortcut.
There is none.
2. Patience
If you are losing the patience, you are losing the battle.
First nothing happens, then it happens slowly and suddenly all at once.
Most people give up at stage one.
3. Sacrifice
If you don't sacrifice for what you want, then what you want becomes the sacrifice.
Everything has its price. The question is: Are you ready to pay it for the life you desire?
4. Consistency
Consistency is what transforms average into excellence.
Without consistency, you will never achieve greater success.
5. Discipline
Motivation gets you going, but discipline keeps you growing.
There will be days when you don't “feel” like doing it.
You have to push through those days regardless of how you feel.
6. Self Confidence
Confidence is, I'll be fine if they don't like me.
GOD BLESS YOU🙏❤️
EYA Oliver Uchenna®️
Success demands these 6 things..
(The Secret Formula)
1. Hard Work
Don't believe in luck, believe in hard work.
Stop trying to rush the process or searching for a shortcut.
There is none.
2. Patience
If you are losing the patience, you are losing the battle.
First nothing happens, then it happens slowly and suddenly all at once.
Most people give up at stage one.
3. Sacrifice
If you don't sacrifice for what you want, then what you want becomes the sacrifice.
Everything has its price. The question is: Are you ready to pay it for the life you desire?
4. Consistency
Consistency is what transforms average into excellence.
Without consistency, you will never achieve greater success.
5. Discipline
Motivation gets you going, but discipline keeps you growing.
There will be days when you don't “feel” like doing it.
You have to push through those days regardless of how you feel.
The word ‘Market’ is derived from the Latin word ‘Marcatus’, means a place where business is conducted.
A market is a place which allows the purchaser and the seller to invent and gather information and lets them carry-out exchange of various products and services. In other words, the meaning of market refers to a place where the trading of goods takes place.
Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges which satisfy individual and organizational objectives
Marketing is an effective way of engaging customers
Marketing helps to build and maintain the company’s reputation.
Marketing helps to build a relationship between a business and its customers
Marketing is a communication channel used to inform customers
Marketing helps to boosts sales
Marketing aids in providing insights about your business
Marketing helps your business to maintain relevance
Marketing creates revenue options
Marketing helps the management team to make informed decisions
1. Marketing is defined as the process of creating, communicating, and delivering value to customers and managing relationships. It involves a variety of activities like market research, product development, pricing, promotion, and distribution.
2. The key differences between traditional and modern marketing are that traditional marketing focused on selling products, while modern marketing is customer-oriented. Traditional marketing also used limited advertising methods, while modern marketing utilizes various channels including social media.
3. The marketing concept focuses on customer needs and satisfaction. It involves identifying target markets and coordinating all business activities to influence customers. The selling concept focuses on persuading customers to buy what the company produces through aggressive promotion.
Marketing involves all activities related to moving goods and services from producers to consumers. It has two key roles - selling what a business produces and managing its brand. Marketing activities include branding, distribution, advertising, promotion, research, development, and sales. Successful marketing increases brand equity or value through establishing a brand name, logo, slogan and consistent brand identification that connects with consumers over the product life cycle.
This document discusses key marketing concepts including needs, wants, exchange, market, goods, and familiarity with marketing systems. It defines marketing as satisfying customer needs through the development, promotion, and distribution of products. It also discusses the marketing mix of product, price, place, and promotion and how organizations market products, services, and experiences.
What is the product _ Things to know about product life cycle.pdfraufkhalid104
When talking about products, people often think " products are specific physical things, things that we can observe, hold, and touch) .
But in the business market, products are defined completely differently. It is in a much broader category than what the definition above states.
Marketing deals with identifying and meeting human and social needs through exchange and transactions between two or more parties. Marketers are involved in marketing 10 types of entities including goods, services, events, experiences, persons, places, properties, organizations, information, and ideas. Traditionally, a market was a physical place where buyers and sellers gathered, but now it also includes digital marketspaces and metamarkets that combine related products across industries. Effective marketing requires understanding needs, wants, and demands; segmenting and positioning the market; developing and communicating value to customers; and using strategic planning to achieve organizational goals.
The document discusses the key elements of marketing: research, product development, and communication. It then summarizes the marketing mix, which consists of the 4 P's - product, price, place, and promotion. Product involves the tangible good or intangible service being offered. Price determines how much customers pay. Place covers distribution channels and logistics. Promotion encompasses advertising, sales, and other communication efforts to persuade customers. The marketing mix framework is fundamental in developing a marketing strategy.
CHAPTER 19 BUSINESS STUDIES NIOS XII
meaning of marketing;
differentiate between ‘marketing’ and ‘selling’;
importance of marketing
objectives of marketing
functions of marketing
The document discusses key marketing concepts including:
- The definition of marketing as a social and managerial process to satisfy needs through product creation and exchange.
- The objectives of marketing which include increasing sales, creating goodwill, profit through customer satisfaction, and more.
- The distinction between marketing and selling, where marketing focuses on customer needs and selling focuses on product sales.
- Marketing classifications based on place, time, and competition.
- An overview of marketing management and the production, product, selling, marketing, and societal concepts in marketing.
This document outlines the key elements of marketing. It discusses the modern marketing concept and different approaches to studying marketing like industrial, consumer, and services marketing. It also covers important marketing topics like consumer behavior, market segmentation, the marketing mix, product planning and development, pricing policies, promotion mix, and personal selling. The document provides a syllabus and outlines lessons that will be covered, including marketing definitions, the marketing concept, consumer behavior, and the product life cycle.
Product life cycle and marketing management strategiesAnanthK20
The document discusses the product life cycle and marketing strategies used at each stage. It explains that all products go through stages of development, introduction, growth, maturity, and decline. To be successful during each phase, companies must understand customer needs, markets, and competitors, and how to apply the appropriate marketing mix of product, price, place, and promotion strategies. As a product moves from introduction to decline, companies shift strategies from heavy promotion and building demand, to increasing competition and price reductions. The goal is to recognize a product's stage and set performance targets to improve success throughout its lifetime.
The document discusses marketing concepts and the marketing mix. It defines marketing concepts as the philosophies adopted by companies to market their products. It then outlines traditional concepts like the exchange concept versus modern concepts like the marketing concept. The marketing mix is introduced as the combination of product, price, place, and promotion strategies used to satisfy the target market. The roles of each element are defined, along with other factors like packaging, people, and politics. The document provides details on how the marketing mix elements can be blended to meet customer needs.
The document discusses marketing concepts including needs, wants, demands, products, value, satisfaction, exchange, transactions, and definitions of marketing. It then provides more detail on marketing functions including selling, buying, transportation, storage, standardization, grading, financing, risk taking, and market information gathering. Marketing is defined as identifying and satisfying customer needs profitably by creating value. The key marketing functions aim to facilitate the exchange of goods and services from producers to consumers.
This document provides an overview of key marketing concepts including defining marketing, the marketing mix, the marketing environment, marketing research, customer value and satisfaction, and analyzing consumer markets.
It defines marketing as meeting human and social needs profitably and involves identifying target markets and growing customers. The marketing mix consists of the 4 P's - product, price, place and promotion. Understanding the macro environment through trends, forces and research is important. Marketing research involves defining problems and objectives, developing a research plan, collecting and analyzing information. Creating customer value and satisfaction is key to retaining customers. Analyzing factors like culture, social groups, and roles that influence consumer buying behavior is also discussed.
The document provides an introduction to marketing concepts. It defines marketing as the process of moving products from concept to customer through identifying demand, price, and distribution channels. The marketing mix is also introduced, which comprises the four Ps - product, price, place, and promotion. Core marketing concepts are then defined, including needs, wants, demand, product, utility, cost, satisfaction, exchange, and relationships. The document also discusses different marketing concepts such as production, product, selling, marketing, and societal marketing concepts. Finally, it provides definitions of key elements of the marketing mix - product, price, place, and promotion.
The document discusses various topics related to marketing such as definitions of marketing, goals of marketing, concepts of marketing including the production concept, product concept, and marketing concept, approaches to marketing including the commodity, institutional, and functional approaches, nature and scope of marketing, and functions of marketing. It provides an overview of fundamental marketing principles and frameworks.
The document discusses marketing management and the marketing mix. It provides an overview of the key elements of marketing management including marketing research, market planning, product development, packaging, branding, pricing, promotion, distribution, and customer service. It also outlines different marketing philosophies including the production concept, product concept, selling concept, marketing concept, and social marketing concept. Finally, it discusses each element of the marketing mix - product, price, place, and promotion - and provides important questions to consider for each element.
Marketing management book @ bec doms bagalkot mbaBabasab Patil
This document provides an overview of marketing management concepts across 6 units. It discusses key topics such as the modern marketing concept, social marketing concept, marketing environment, consumer behavior, marketing research, product mix management, product-market integration, price mix management, physical distribution mix, and promotional mix. The goals are to understand approaches to marketing, segmentation, the marketing mix, determinants of consumer behavior, marketing procedures, product planning, pricing policies, distribution channels, and components of promotion.
Marketing management book @ bec doms bagalkot mbaBabasab Patil
This document outlines 6 units of a marketing management course. The key concepts discussed include the modern marketing concept, social marketing concept, marketing environment, consumer behavior, marketing research, product mix management, product-market integration, price mix management, physical distribution mix, and promotional mix. The modern marketing concept focuses on determining consumer needs and wants and satisfying them through an integrated marketing approach.
Similar to Note on Principles of Marketing I.ppt (20)
ADVICE TO ALL EMPLOYEES
1. Build a home earlier. Be it rural home or urban home. Building a house at 50 is not an achievement. Don't get used to government houses. This comfort is so dangerous. Let all your family have good time in your house.
2. Go home. Don't stick at work all the year. You are not the pillar of your department. If you drop dead today, you will be replaced immediately and operations will continue. Make your family a priority.
3. Don't chase promotions. Master your skills and be excellent at what you do. If they want to promote you, that's fine if they don't, stay positive to your personal.
development.
4. Avoid office or work gossip. Avoid things that tarnish your name or reputation. Don't join the bandwagon that backbites your bosses and colleagues. Stay away from negative gatherings that have only people as their agenda.
5. Don't ever compete with your bosses. You will burn your fingers. Don't compete with your colleagues, you will fry your brain.
6. Ensure you have a side business. Your salary will not sustain your needs in the long run.
7. Save some money. Let it be deducted automatically from your payslip.
8. Borrow a loan to invest in a business or to change a situation not to buy luxury. Buy luxury from your profit.
9. Keep your life,marriage and family private. Let them stay away from your work. This is very important.
10. Be loyal to yourself and believe in your work. Hanging around your boss will alienate you from your colleagues and your boss may finally dump you when he leaves.
11. Retire early. The best way to plan for your exit was when you received the employment letter. The other best time is today. By 40 to 50 be out.
12. Join work welfare and be an active member always. It will help you a lot when any eventuality occurs.
13.Take leave days utilize them by developing yr future home or projects..usually what you do during yr leave days is a reflection of how you'll live after retirement..If it means you spend it all holding a remote control watching series on Zee world, expect nothing different after retirement.
14. Start a project whilst still serving or working. Let your project run whilst at work and if it doesn't do well, start another one till it's running viably. When your project is viably running then retire to manage your business. Most people or pensioners fail in life because they retire to start a project instead of retiring to run a project.
15. Pension money is not for starting a project or buy a stand or build a house but it's money for your upkeep or to maintain yourself in good health. Pension money is not for paying school fees or marrying a young wife but to look after yourself.
16. Always remember, when you retire never be a case study for living a miserable life after retirement but be a role model for colleagues to think of retiring too.
17. Don't retire just because you are finished or you are now a burden to the company and just wait for your day t
Entrepreneurship Short Note.pptx for Business Studentsetebarkhmichale
Success demands these 6 things..
(The Secret Formula)
1. Hard Work
Don't believe in luck, believe in hard work.
Stop trying to rush the process or searching for a shortcut.
There is none.
2. Patience
If you are losing the patience, you are losing the battle.
First nothing happens, then it happens slowly and suddenly all at once.
Most people give up at stage one.
3. Sacrifice
If you don't sacrifice for what you want, then what you want becomes the sacrifice.
Everything has its price. The question is: Are you ready to pay it for the life you desire?
4. Consistency
Consistency is what transforms average into excellence.
Without consistency, you will never achieve greater success.
5. Discipline
Motivation gets you going, but discipline keeps you growing.
There will be days when you don't “feel” like doing it.
You have to push through those days regardless of how you feel.
6. Self Confidence
Confidence is, I'll be fine if they don't like me.
GOD BLESS YOU🙏❤️
EYA Oliver Uchenna®️
Success demands these 6 things..
(The Secret Formula)
1. Hard Work
Don't believe in luck, believe in hard work.
Stop trying to rush the process or searching for a shortcut.
There is none.
2. Patience
If you are losing the patience, you are losing the battle.
First nothing happens, then it happens slowly and suddenly all at once.
Most people give up at stage one.
3. Sacrifice
If you don't sacrifice for what you want, then what you want becomes the sacrifice.
Everything has its price. The question is: Are you ready to pay it for the life you desire?
4. Consistency
Consistency is what transforms average into excellence.
Without consistency, you will never achieve greater success.
5. Discipline
Motivation gets you going, but discipline keeps you growing.
There will be days when you don't “feel” like doing it.
You have to push through those days regardless of how you feel.
6. Self Confidence
Confidence is, I'll be fine if they don't like me.
GOD BLESS YOU🙏❤️
EYA Oliver Uchenna®️
Success demands these 6 things..
(The Secret Formula)
1. Hard Work
Don't believe in luck, believe in hard work.
Stop trying to rush the process or searching for a shortcut.
There is none.
2. Patience
If you are losing the patience, you are losing the battle.
First nothing happens, then it happens slowly and suddenly all at once.
Most people give up at stage one.
3. Sacrifice
If you don't sacrifice for what you want, then what you want becomes the sacrifice.
Everything has its price. The question is: Are you ready to pay it for the life you desire?
4. Consistency
Consistency is what transforms average into excellence.
Without consistency, you will never achieve greater success.
5. Discipline
Motivation gets you going, but discipline keeps you growing.
There will be days when you don't “feel” like doing it.
You have to push through those days regardless of how you feel.
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Digital Lendings Relationship Officer
Expired 5 months ago!
Related Jobs
Banking and Insurance Jobs Senior Level Jobs Dashen Bank S.C Jobs
Job Description:
Digital Lendings Relationship Officer
Place of work- Addis Ababa
DB/ Vacancy-0077/23
Job Summary
Digital Lendingss Relationship Officer is Responsible for assisting Digital Lenging Relationship Manager in the process of relationship and partnership creation and management, and product & digital lending business development and enhancement to deliver best quality service to customers with the expectation of increasing profitability and/or reducing operational expense and risks of different nature, ensure health-check of the different digital value propositions, compliance to regulatory directions, take proactive measures to identify early warning signals to keep management informed.
Job Requirements:
Academic & Professional Qualification
Economics, and/or related fields is an added advantage.
Bachelor Degree in Accounting, Economics, Business Administration, Management, Marketing Managerment, and/or related fields.
Master’s in Accounting, Economics, Business Administration, Management, Marketing Management, and/or related fields is an added advantage.
Experience
Minimum of 4 (four) years relevant work experience on similar roles.
Behavioral & Leadership Competency
Leadership and people management including performance management, coaching & mentoring.
Demonstrated business acumen - able to create strategy and actions that impact business success.
High-level interpersonal and cross-cultural skills, including ability to build consensus, alliances and collaborative relationships with sensitivity to diversity/inclusion.
Creativity and innovation skills, with ability to use technology and other modern tools to drive decision making and implementation.
Strategic thinking and decision making- ability to consider emerging trends/developments and long-term opportunities for Dashen Bank.
Professionalism and integrity in line with Dashen Bank values.
High-level oral and written communication skills.
Critical and analytical thinking and problem solving skills
Personal motivation and drive exhibited through commitment to hard work, continuous improvement and achievement of goals.
Good customer relationship management skills (internal and external customers)
Risk awareness and focus- demonstrates understanding of risk management practices, standards and regulatory requirements
Effective stakeholder management.
Required Technical Competency
Experience working cross-functionally to develop new ideas and
Register
Navigation
Jobs
Latest Jobs
Login
Register
Courses
Advice
Employers
Copyright 2023. All Rights Reserved.
Get In Touch
Snap Plaza 8th floor, Bole Next to The Millennium hall. Addis Ababa, Ethiopia
info@ethiojobs.net
+251-116-67-33-24
+251-924-91-08-47
Get Social
Facebook
Twitter
LinkedIn
YouTube
Telegram
Links
About Us
Contact Us
FAQs
Copyright 2023. All Rights Reserved.
Digital Lendings Relationship Officer
Expired 5 months ago!
Related Jobs
Banking and Insurance Jobs Senior Level Jobs Dashen Bank S.C Jobs
Job Description:
Digital Lendings Relationship Officer
Place of work- Addis Ababa
DB/ Vacancy-0077/23
Job Summary
Digital Lendingss Relationship Officer is Responsible for assisting Digital Lenging Relationship Manager in the process of relationship and partnership creation and management, and product & digital lending business development and enhancement to deliver best quality service to customers with the expectation of increasing profitability and/or reducing operational expense and risks of different nature, ensure health-check of the different digital value propositions, compliance to regulatory directions, take proactive measures to identify early warning signals to keep management informed.
Job Requirements:
Academic & Professional Qualification
Economics, and/or related fields is an added advantage.
Bachelor Degree in Accounting, Economics, Business Administration, Management, Marketing Managerment, and/or related fields.
Master’s in Accounting, Economics, Business Administration, Management, Marketing Management, and/or related fields is an added advantage.
Experience
Minimum of 4 (four) years relevant work experience on similar roles.
Behavioral & Leadership Competency
Leadership and people management including performance management, coaching & mentoring.
Demonstrated business acumen - able to create strategy and actions that impact business success.
High-level interpersonal and cross-cultural skills, including ability to build consensus, alliances and collaborative relationships with sensitivity to diversity/inclusion.
Creativity and innovation skills, with ability to use technology and other modern tools to drive decision making and implementation.
Strategic thinking and decision making- ability to consider emerging trends/developments and long-term opportunities for Dashen Bank.
Professionalism and integrity in line with Dashen Bank values.
High-level oral and written communication skills.
Critical and analytical thinking and problem solving skills
Personal motivation and drive exhibited through commitment to hard work, continuous improvement and achievement of goals.
Good customer relationship management skills (internal and external customers)
Risk awareness and focus- demonstrates understanding of risk management practices, standards and regulatory requirements
Effective stakeholder management.
Required Technical Competency
Experience working cross-functionally to develop new ideas and
Financial management for Business CoursesPPT.pptetebarkhmichale
The Commercial Bank of Ethiopia has been becoming a leader, pioneer, and role model for the country's financial industry, especially the banking industry. Currently, it aspires “to become a world-class commercial bank, financially driving Ethiopia’s future'', and it is working to provide banking services tailored to the needs of its esteemed customers. The bank has carried out a comprehensive assessment and strategy design work and drawn a business reform road map. Based on the assessment, reforms and organizational restructurings have been done. Accordingly, the bank has introduced a new customer-centric business model and undertaken amendments to its organizational structure in order to render effective service based on customer segments. Following this, new divisions and departments were established; the Micro Business Banking under the Wholesale Banking Division was established to address the banking needs of all individual and non-individual businesses.
The main objective of the department was to provide financing access to microbusiness customers. Since the number of microbusiness customers is very high, using digital channels has been considered an essential alternative. Due to this, the department has been assigned to provide digital micro saving and lending, which is the most efficient and effective form.
The strategic initiatives planned to achieve the department’s objectives have been successfully implemented, and the DMSL service is under a pilot test. However, there have been some problems that could be fixed only by restructuring the department, and the current structure is not conducive to providing successful digital loans. The digital lending being in a pilot test is also not going according to plan, and its performance status is not satisfactory. Due to those situations, I have been initiated to come up with this concept note, and I hope you will enrich and work on it to provide a successful solution.
2. Background
Technological advancements have significantly transformed the way services are delivered, leading to a shift in customer expectations and demands. Financial services are now focusing on providing seamless digital banking transactions and personalized engagements. Digital lending platforms are making lending easier, more accessible, and more efficient. Commercial Bank of Ethiopia (CBE) is leading in achieving national financial inclusion by establishing dedicated departments and implementing initiatives to improve the customer experience. This concept note proposes a structural adjustment for the recently established department called micro business banking department established under the wholesale banking division. The detail background leads me to this initiative is detailed as follow.
2.1. Micro Business Banking
CBE has established a department called Micro Business dedicated to microenterprise customers. According to the customer segmentation procedure of the bank, “Micro Business Banking” means a banking s
English Email Writing byme- at work place ppt pptxetebarkhmichale
Understanding the Structure of a Successful Digital Credit Provider in Kenya.
Kenya's financial services sector is embracing FinTech, with digital credit providers like Tala, Zenka Digital, and Ksmart leveraging AI, machine learning, robotic process automation, data analytics, and blockchain. A fintech in the lending space may cater to various kinds of product offerings, which can be broadly categorized as follows:
1. Consumer loans
2. Personal loans
3. Business or MSME (Micro, Small, and Medium Enterprise) loans
1. What are the critical back-end tech solutions/integrations needed?
1. Customer acquisition
2. Application, website, and/or app
3. Verification APIs
4. Credit underwriting/ Scorecards/Fraud detection
5. Credit Bureau Integration
6. Automatic analysis of qualitative factors
7. Disbursement/Repayment
8. Collection/Recovery
9. Loan Management System (LMS)/Accounting
10. Legal
Let's delve deeper into each of the above for a deeper understanding.
1.1. Customer acquisition
Drawing in customers is a top priority for any fintech. There are various methods or sources through which a DCP acquires its customers. The customer acquisition process may differ for each lending institution depending on their product, the area in which they operate, the customer profile, etc. To attract potential borrowers, leverage digital marketing strategies, social media, and partnerships with relevant platforms. Focus on providing a seamless user experience to make your platform stand out from existing or traditional lenders.
1.2. Application, website, app or USSD
Develop a user-friendly and intuitive digital platform for borrowers to apply for loans easily. Mobile apps have become increasingly popular in Fintech, allowing users to access services conveniently. Consider application login through Gmail, social media, and so on to enable the user to seamlessly log in to the mobile application for the website without creating any new login credentials. At the same time, this also provides the Fintech with the profile of the loan applicant. Do you need customers to upload documents for KYC/AML verification? Ensure your platform allows uploading these documents and has back-end integration to verify the documents' authenticity. Consider using the different available Optical Recognition Technologies (OCR), which should be able to read the data from the documents provided and create the text. For verification and authentication of the information in the documents, the Fintech can develop its software and subscribe to various services or do an API integration with a service provider who can provide such services. The main goal is to give users a comfortable journey, so they must manually type minimum information.
1.3. Verifying APIs
Integrated person’s registry system (IPRS) is Kenya'sKenya's reputed organization providing APIs for KYC, Identity, etc., suitable for all lending businesses. The IPRS system aims to consolidate population information into a
Introduction
In life, there are universal laws that govern everything we do. These laws are so perfect that if you were to align yourself with them, you could have so much prosperity that it would be coming out of your ears. This is because God created the universe in the image and likeness of him. It is failure to follow the universal laws that causes one to fail. The laws that were created consisted of the following: ·
Law of Gratitude: The Law of Gratitude states that you must show gratitude for what you have. By having gratitude, you speed your growth and success faster than you normally would. This is because if you appreciate the things you have, even if they are small things, you are open to receiving more.
Law of Attraction: The Law of Attraction states that if you focus your attention on something long enough you will get it. It all starts in the mind. You think of something and when you think of it, you manifest that in your life. This could be a mental picture of a check or actual cash, but you think about it with an image.
Law of Karma: the Law of Karma states that if you go out and do something bad, it will come back to you with something bad. If you do well for others, good things happen to you. The principle here is to know you can create good or bad through your actions. There will always be an effect no matter what.
Law of Love: the Law of Love states that love is more than emotion or feeling; it is energy. It has substance and can be felt. Love is also considered acceptance of oneself or others. This means that no matter what you do in life if you do not approach or leave the situation out of love, it won't work.
Law of Allowing: The Law of Allowing states that for us to get what we want, we must be receptive to it. We can't merely say to the Universe that we want something if we don't allow ourselves to receive it. This will defeat our purpose for wanting it in the first place.
Law of Vibration: the Law of Vibration states that if you wish on something and use your thoughts to visualize it, you are halfway there to get it. To complete the cycle you must use the Law of Vibration to feel part of what you want. Do this and you'll have anything you want in life.
For everything to function properly there has to be structure. Without structure, our world, or universe, would be in utter chaos. Successful people understand universal laws and apply them daily. They may not acknowledge that to you, but they do follow the laws. There is a higher power and this higher power controls the universe and what we get out of it. People who know this, but wish to direct their own lives, follow the reasons. Successful people don't sit around and say "I'll try," they say yes and act on it.
Chapter - 1
The Law of Attraction
The law of attraction is the most powerful force in the universe. If you work against it, it can only bring you pain and misery. Successful people know this but have kept it hidden from the lower class for centuries because th
Power of Personal Appearance
Image management is the ongoing process of evaluating and controlling the impact of your appearance and the resulting response on you and others.
The concept of image management applies to anyone who has ever needed to improve self-image, self-esteem, self-confidence, capability and credibility. It applies to anyone who has ever wanted to get an idea across to someone else, to influence opinion or action is it in the home, school, church, community or business setting. It is creating an authentic, appropriate, attractive, and affordable image. Intelligence, knowledge, ability, initiative, and effort are vital to success of any kind, but regardless of whom you are, how old, and what your role or goal, ongoing image management can give you the personal/professional presence you need.
As an individual living and working in a highly complex and competitive society, you must recognize and understand the impact of your appearance as it communicates first to you and then to others. What you wear and the way you look affects:
1. The Way You Think
You can’t afford to think negatively about yourself due to some aspect of your appearance. When you appear authentic, attractive, and appropriate, you think more positively about yourself, your situation, and others.
2. The Way You Feel
You can’t afford to feel depressed, unproductive, uncomfortable, antagonistic, argumentative, self-conscious, inferior, or full of self-doubt. A positive personal appearance is a fast, effective way to boost self-confidence and overcome anxiety regarding ability or acceptance. When you appear attractively dressed and groomed, personally authentic, and appropriate for the occasion, you feel more comfortable, confident, capable, cooperative and productive.
3. The Way You Act or Behave
You can’t afford to act awkward, insecure, submissive, out-of-place, or out-of-order. Nor can you afford to act defensive, arrogant, aggressive, affected, superior, or conceited. A positive personal appearance is one of the most effective ways to improve behavior and enhance performance level or productivity. When you appear attractively dressed and groomed, personally authentic, and appropriate for the occasion, you act more secure, at ease, mannerly, competent, and naturally able to do your best.
4. The Way Others React and Respond to You
Your appearance is the one personal characteristic that is immediately obvious and accessible to others. You can’t hide it. Your appearance makes a strong statement about your personality, values, attitudes, interests, knowledge, abilities, roles, and goals. You can’t afford to be seen as disrespectful, antagonistic, affected, scatterbrained, irresponsible, ineffective, or unproductive. You can’t afford to create a negative impression or to build barriers between you and others because of unattractive, inappropriate, distracting, or offensive appearance.
When you appear attractively dressed and groomed, personally authentic, and ap
Email Writting Guideline Follow step by step PPT.pptxetebarkhmichale
Digital credit process and the steps to obtain an instant loan
𝙰𝚕𝚎𝚖𝚊𝚢𝚎𝚑𝚞 𝚂𝚒𝚖𝚎𝚗𝚎𝚑
𝙰𝚕𝚎𝚖𝚊𝚢𝚎𝚑𝚞 𝚂𝚒𝚖𝚎𝚗𝚎𝚑
𝙰𝚕𝚎𝚖𝚊𝚢𝚎𝚑𝚞 𝚂𝚒𝚖𝚎𝚗𝚎𝚑
Digital Marketing Manager @ Bank of Abyssinia | Marketing Management MA
Published Jul 9, 2023
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Digital Lending has made it possible for many people to access the funds they need quickly and securely, without having to worry about paperwork or trips to physical banks and collateral. With competitive rates, flexible repayment plans, and fast disbursement of funds – digital lending is changing the way we view financing.
Digital lending is the process of obtaining a loan online through digital channels such as mobile apps and websites. And, this process has been gaining popularity in recent years in our country due to its convenience and ease of use. There are noteworthy examples of this. One is Michu, a platform by the Cooperative Bank of Oromia that offers credit based on a borrower's score. It specifically provided for micro, small, and medium enterprises (MSMEs). Another is Telebirr's different types of microloan services offered in collaboration with Dashen Bank. This service allows users to obtain small loans without needing collateral, using their credit score as a basis. Additionally, the Bank of Abyssinia's different Apollo instant digital loans, which is set to launch this month.
The digital credit process typically consists of the following major activities. And, the borrower will need to research and compare the existing digital lending platforms to find one that suits his needs. He should consider factors such as service charges, interest rates, loan terms, eligibility criteria, and customer reviews.
Create an account: Once the borrower has selected a provider, he will need to create an account on their platform. This typically involves providing basic personal information (name, address, phone number, email) and setting up a username and password.
Loan Application: Once he has chosen a lender, the borrower will need to fill out an online application form. This typically involves providing personal information (like name and address), financial information (such as income, employment status, and outstanding debts), and the purpose of the loan.
Document Submission: After filling out the application, the borrower will usually need to submit supporting documents. These might include proof of identity, proof of income (like pay stubs or tax returns), and bank statements. Thanks to digital technology, these documents can often be uploaded directly to the platform.
Consent to a credit check: Most digital credit providers will perform a credit check as part of the application process. By agreeing to a credit check, the borrower needs to give the provider permission to access his credit history and score, which will be used to assess his creditworthiness.
Review the loan terms: If the application is approved, the provider will present the borrower with a loan offer,
Digital Lending Platform: The only guide you’ll ever need(https://moba.finance/what-is-digital-lending-platform/)
New changes in rates, regulations, competitions, and new technologies all the more increase this pressure of digital lending. Banks need a new lending technology to rapidly adapt to market shifts and stay ahead of competitors.
Fortunately, a Digital Lending Platform can help banks address all those challenges.
What is Digital Lending Platform
A Digital Lending Platform automates the journey from application to disbursement for any lending product—be it mortgages, consumer loans, or deposit accounts.
With Digital Lending Platforms, banks can acquire and assess customers faster while enhancing back-office processes and reducing costs. It helps banks solve these challenges by delivering an all-in-one place to manage individual customers’ lending journey—from application, underwriting, to disbursement and collection.
In today’s everything-digital world, customers are so used to the seamless and intuitive shopping experience from Momo, Shopee, and Grab. They expect the same thing from lending. Customers demand the ability to apply for loans and are disbursed online via digital platforms, without having to visit the physical branch.
Below are some of the capabilities of a Digital Lending Platform:
Seamless customer experiences from application to collection
With the Digital Lending Platform, your potential lenders can use any device—be it the mobile phone, tablet, or desktop—to apply for loans and complete the follow-up tasks to receive the disbursement. The platform supports everything involved in the lending workflow, which involves connecting to their bank account, uploading documents, completing the eKYC process, providing e-signature, … All that is customizable to meet banks’ unique requirements.
Role-based tools for loan officers
A Digital Lending Platform provides each officer with a digital workspace to support lenders. The workspace typically includes interfaces for managing applications, communicating with customers online to complete follow-ups, providing settlement and closing services, and engaging with referral partners.
Automated verification and accuracy checks
By directly connecting to financial data sources, the digital lending platform helps banks eliminate the use of paper. It makes approvals faster and reduces fraud risk by integrating a wide range of eKYC solutions to verify customers’ identity, assets, employment, and income.
Data-driven workflows and automated decisioning
The Digital Lending Platform applies workflows that loan officers can customize themselves without having to write codes. The result is that manual, paper-based processes are reduced significantly. Also, it can automate requests for information, which provides underwriters with accurate and up-to-date loan files to finalize credit decisioning. In addition, the platform can automatically apply bank’s credit policies to unlock more efficiency
Supply Chain Financing to MSMEs businesses PPT.pptetebarkhmichale
Bank
Management
In Africa, women entrepreneurs play a growing role in diversifying production and services. However, they are facing the problem of financial shortage; a recent report by the African Development Bank showed that there is an estimated $42 billion financing gap for female entrepreneurs in Africa. The study demonstrated that women are facing more difficult conditions than men entrepreneurs such as limited access to key resources (including land and credit), the legal and regulatory framework, and the socio-cultural environment. The economy's full potential cannot be realized if half of its population cannot fully contribute, and women have faced many hurdles in the entrepreneurship journey, prompting responsible bodies to devise affirmative solutions.
Ethiopia's female population is 49.8%, but small businesses owned by women only make up 16.5% of the total number of entrepreneurs. Limited access to finance, business networks, development services, and business management skills hinders women entrepreneurs. The government is promoting women entrepreneurs through initiatives like training and financial support. The Commercial Bank of Ethiopia (CBE) is introducing a customer-centric business model to cater to its customers' needs and values. The bank aims to increase the outreach of financial products and services to a larger population, particularly women who own business enterprises. The bank has established a micro business department to adjust itself with the micro business loan demanding customers. These factors can be considered as business drivers and factors enforcing CBE to come up with a gender-specific solution.
The micro business banking department conducted a feasibility study on financing women-owned Micro, Small and Medium Enterprises (MSMEs), and has proposed a collateral-free loan product to bridge the financial gap. In the feasibility study it has been also demonstrated that financing women owned MSMEs could promote financial inclusion and economic empowerment, boosting growth and forming the backbone of vibrant economies.
Therefore, this proposal aims to provide a method how CBE should finance for selected formal women-owned MSMEs in Ethiopia to alleviate their financing gap. It is being proposed that, the CBE shall start the product by making a pilot test for women-owned microbusinesses from Addis Ababa City Administration, with local stakeholders providing data, support, and training for three years. The bank could be benefited from implementing this proposal to attract and retain micro customers, penetrate the micro credit-market, and to adjust itself with the micro customers’ demand.
2. Objectives of the proposal
2.1. General Objectives
This proposal aims to provide customized microloans for women MSMEs to ensure equitable resource allocation and profitability for the bank.
2.2. Specific Objectives
• To play a major role in supporting and promoting women-owned MSMEs through availing useful and affordable loan
1.1. Nature and Definition of Auditing
Different scholars have defined auditing in different ways. For example, Auditing is a process of collection and evaluation of evidence for the purpose of reporting on economic transaction. The other definition of auditing given by the Institute of Chartered Accountants of India, in its publication titled, General Guidelines on Internal Auditing has defined auditing as ‘ a systematic and independent evaluation of data, statements, records, operations and performances ( financial or otherwise) of an enterprise for stated purpose. In any auditing situation, the auditor perceives and recognizes the propositions before him for examination, collects evidence, evaluates the same and on this basis formulates his/her judgment which is communicated through audit report.
As it is cited in Kanal Gupta and Arora A.(1996,p6), Arens and Loebbecke defined auditing as the process by which a complete, independent person accumulates and evaluates evidence about quantifiable information related to specific economic entity for the purpose of determining and reporting on the degree of correspondence between the quantifiable information and established criteria. To sum up, Auditing is the process of verifying the assertions produced by accounting, as to whether they present a true and fair view of the entity's financial position in accordance with accounting standards and GAAP. In other words, auditing seeks to verify whether or not financial records have been properly prepared.
Study Note
The term audit is derived from the Latin term ‘audire,’ which means to hear. In early days an auditor used to listen to the accounts read over by an accountant in order to check them Auditing is as old as accounting.
It was in use in all ancient countries such as Mesopotamia, Greece, Egypt. Rome, U.K. and India. The Vedas contain reference to accounts and auditing.
The original objective of auditing was to detect and prevent errors and frauds and most recently objective of audit shifted to ascertain whether the accounts were true and fair rather than detection of errors and frauds.
Auditing evolved and grew rapidly after the industrial revolution in the 18th century with the growth of the joint stock companies the ownership and management became separate.
The shareholders who were the owners needed a report from an independent expert on the accounts of the company managed by the board of directors who were the employees.
1.2. Historical Development of Auditing
The development of auditing is closely linked to the development of accounting. In the early stage of civilization, the number of transaction was usually so small that able to record the transactions himself. However, with the growth of civilization and consequential growth in volume and complexity of transactions, it becomes necessary to entrust the job of recording the transactions to other persons. The trend started with maintenance of accounts to empires by public officials
Today’s complex global challenges require partnerships across sectors and societies to achieve equitable and sustainable results for stakeholders and realize strategic objectives stipulated. The United Nations General Assembly defines partnerships as voluntary and collaborative relationship between various parties, both public and non-public, in which all participants agree to work together to achieve a common purpose or undertake a specific task and, as mutually agreed, to share risks, responsibilities, resources and benefits.
Alexander et al. (2001) also defines partnership as strategically formed relationship between organizations that involve varying degrees of resource sharing, joint decision making, and collaborative work to address common interests, and achieve shared goals. While there are many theoretically recognized benefits and advantages to partnerships, the answer to why one seeks to establish partnership is relatively simple. The presumption is that, there is added value in working with other organizations .
Strategically, the Commercial Bank of Ethiopia (CBE) has adopted partnering with developmental organs (Regional Organs) and collaboration institutions strategic response in crafting both local and foreign currency resource mobilization strategies.
A strategic partnering for CBE is nothing but it is a form of an agreement with government/public organs/Institutions under the theme of mutual growth and success. In other words, it is forming a strong relationship with organizations like governmental organs that have shared interest, vision, goal & objectives (development) in order to reach a new market and excel competitors/rivals by providing excellent banking services.
On the other hand, collaboration for CBE shall mean work with another organ in order to achieve or do something that sounds disarmingly simple and coordinating the efforts of employees and resource deployed in providing services and selling of products. Since then, it is struggling to implement these strategic responses accordingly at all level of the bank in the course of resource mobilization tasks.
According to the revised Deposit Mobilization Strategy for 2015/16-2019/20 outlines various strategic responses for deposit mobilization. Strengthening Collaboration with Development Partners is one of them. The document begins by stating the invaluable importance of strategic partners in the success of CBE over the past strategic periods and without the active support of partners, CBE’s deposit mobilization effort would have been very difficult, if not impossible.
But the strategy document stresses that it is not sufficient to sustain their support for long unless the CBE understands their interest or demand and support their area of concern as much as possible.
In 2017, CBE undertook an assessment on the possible areas of engagement with Developmental Partners (DPs) . In this assessment, it is observed that there has been limited understanding about the concep
Concept of Customer Relationship Management (CRM) fINAL PPT.pptetebarkhmichale
• Type and location of collateral;
• Evidence of collateral (title deed No., booklet No, etc);
• The security/collateral coverage (the security-to-loan ratio) is as per the Bank’s requirement;
• The comment of the Bank engineers’ on the property estimation format;
• The completeness of the collateral documentation;
• The strength of the collateral depends on the stability of its realizable value and convertibility to cash as and when desired; and
• Other collateral risks, if any.
5. Management/Owner of the business:
• The number and breakdown of the employees of the business and their educational qualification;
• Comment on the experience and skills of the owner/management of the business;
• Assess the character, competence and capacity of the owner/management of the business;
• The integrity of the borrower;
• The borrower’s past track record;
• The borrower’s response to the Bank’s information requirements;
• The willingness of the borrower to allow the Bank’s authorized personnel to have access to the books of records as well as to the business and the collateral; and
• Management/ownership risk, if any.
6. Key Customers and Suppliers of the Business:
Identify the main customers and suppliers of the business and comment on the terms of the trade for sales and purchases.
7. Credit Exposure
All existing lending exposure, types, terms, repayments and status of the loans within the Bank and other banks clearly indicated.
8. Borrower’s Loan Account Performance
This assessment shall be conducted when the borrower is or was a customer of the CBE. The Lending Officer should clearly indicate the utilization of the credit facilities and/or loan repayments of the applicant. (Attach the range of account/Overdraft utilization worksheet).
9. Condition of Fixed Assets
Analyze the age and condition of the fixed assets (buildings, machinery, equipment, etc.) owned by the business;
Identify any plans for asset replacement, or expansion in the next years.
10. Financial Statement Analysis
The Lending Officers must assess the repayment capacity of a business to meet its loan and identify the source of repayment. The Lending Officer must also have done a ratio analysis in order to assess the customer ability to repay his/her/its debt.
The Lending Officer must analyze and interpret the cash-flow and the financial ratios from the historical financial accounts of the business. If the Lending Officer has a computer, he/she must have prepare the CBE Financial Analysis Spreadsheet and attached therewith.
Ratios are the main tools of financial analysis. There are an endless number of ratios that could be established between the figures in a set of financial statements. Nonetheless, the Lending Officer must calculate at least the following ratios that will give useful information to the Bank. The Lending Officer must also compare each ratio from the previous periods. The reason for any major changes from one period to another must be ascertained t
Starting A Foundation Guidance for Advisors.pptetebarkhmichale
Money Market and Capital Market: Difference
Both the money market and the capital market are the two different types of the financial markets where in the money market is used for the purpose of short term borrowing and lending whereas the capital market is used for the long term assets i.e., the assets which have the maturity of more than one year.
Money markets are unorganized markets where banks, financial institutions, money dealers and brokers trade in financial instruments for a short period of time. They trade in short-term debt instruments like trade credit, commercial paper, certificate of deposit, T bills, etc. which are highly liquid and can be redeemed in the period less than 1 year . It helps the business and industries with working capital requirements.
The capital market is a type of financial market where financial products like stocks, bonds, debentures are traded for a long duration of time. They serve the purpose of long-term financing and long-term capital requirement. The Capital mark
Money Market and Capital Market: Difference
Both the money market and the capital market are the two different types of the financial markets where in the money market is used for the purpose of short term borrowing and lending whereas the capital market is used for the long term assets i.e., the assets which have the maturity of more than one year.
Money markets are unorganized markets where banks, financial institutions, money dealers and brokers trade in financial instruments for a short period of time. They trade in short-term debt instruments like trade credit, commercial paper, certificate of deposit, T bills, etc. which are highly liquid and can be redeemed in the period less than 1 year . It helps the business and industries with working capital requirements.
The capital market is a type of financial market where financial products like stocks, bonds, debentures are traded for a long duration of time. They serve the purpose of long-term financing and long-term capital requirement. The Capital mark
Money Market and Capital Market: Difference
Both the money market and the capital market are the two different types of the financial markets where in the money market is used for the purpose of short term borrowing and lending whereas the capital market is used for the long term assets i.e., the assets which have the maturity of more than one year.
Money markets are unorganized markets where banks, financial institutions, money dealers and brokers trade in financial instruments for a short period of time. They trade in short-term debt instruments like trade credit, commercial paper, certificate of deposit, T bills, etc. which are highly liquid and can be redeemed in the period less than 1 year . It helps the business and industries with working capital requirements.
The capital market is a type of financial market where financial products like stocks, bonds, debentures are traded for a long duration of time. They serve the purpose
General Principles of Lending:
When a request for a loan is received, it is important to ensure that the borrower has the legal capacity to borrow. The other matters upon which the information should be obtained are: the purpose of advance, the amount involved, the duration of the advance, the sources of repayment, the profitability of transaction, and, where applicable, the security offered. The most fundamental principle of all is that the bank should have confidence in the integrity, competence and continuing credit worthiness of the borrower.
• Know Your Customer:
While entertaining a proposal for advance, the branch has to first ensure compliance with the KYC norms.
• Pre- Sanction Stage:
Obtain/compile the following:
• Bio-data/declaration of assets owned by the borrower and guarantor along with latest income tax/wealth tax assessment copies and compilation of opinion reports.
• Particulars of immediate family members/legal heirs along with their father’s name and age.
• Audited balance sheets for the previous 3 years, estimated balance sheet for the current year and projected balance sheet for the next year.
• Particulars of existing borrowing arrangements and credit reports/no objection letters from existing banks if any.
• It should be followed by independent verification by the branch incumbent.
• Details of associate/group concerns, their borrowing arrangements and their latest balance sheets.
• No objection letter from term loan lender(s) if already financed by them and their permission/willingness to cede pari passu/ second charge on their security.
• The position of term working capital liabilities with various banks/FIs and details thereof viz., Limit, DP, Out standings, Irregularities (if any).
• Conduct a search/obtain a search report from Registrar of Companies to ascertain position of charges created already.
•
• Due Diligence:
• Branch Manager should do adequate Due Diligence before bringing an asset to the Bank’s books. This will avoid NPA.
• Thorough inquiry about the prospective borrower (with other banks, Financial Institutions, etc.) market intelligence, his past track record of performance and repayment of obligations, credit worthiness (Net Worth) must be done.
• Personal visit to his office/place of business will give an idea of his business.
• Processing of Applications:
While processing the applications, the following should be looked into and commented upon in the proposal:
• Due diligence on promoters’ background, their track record of repayment by checking with their existing bankers (NPA status) (any rephasements, any compromise entered into), credit worthiness, market reputation etc.
• Latest RBI defaulters’ list and willful defaulters' list —Company and their Directors.
• Bank’s loan policy.
• Contractual capacity of the borrower regarding borrowing powers/any restrictions on borrowings and names of persons authorized to borrow by verifications of:
• Partnership deed
Power of Personal Appearance
Image management is the ongoing process of evaluating and controlling the impact of your appearance and the resulting response on you and others.
The concept of image management applies to anyone who has ever needed to improve self-image, self-esteem, self-confidence, capability and credibility. It applies to anyone who has ever wanted to get an idea across to someone else, to influence opinion or action is it in the home, school, church, community or business setting. It is creating an authentic, appropriate, attractive, and affordable image. Intelligence, knowledge, ability, initiative, and effort are vital to success of any kind, but regardless of whom you are, how old, and what your role or goal, ongoing image management can give you the personal/professional presence you need.
As an individual living and working in a highly complex and competitive society, you must recognize and understand the impact of your appearance as it communicates first to you and then to others. What you wear and the way you look affects:
1. The Way You Think
You can’t afford to think negatively about yourself due to some aspect of your appearance. When you appear authentic, attractive, and appropriate, you think more positively about yourself, your situation, and others.
2. The Way You Feel
You can’t afford to feel depressed, unproductive, uncomfortable, antagonistic, argumentative, self-conscious, inferior, or full of self-doubt. A positive personal appearance is a fast, effective way to boost self-confidence and overcome anxiety regarding ability or acceptance. When you appear attractively dressed and groomed, personally authentic, and appropriate for the occasion, you feel more comfortable, confident, capable, cooperative and productive.
3. The Way You Act or Behave
You can’t afford to act awkward, insecure, submissive, out-of-place, or out-of-order. Nor can you afford to act defensive, arrogant, aggressive, affected, superior, or conceited. A positive personal appearance is one of the most effective ways to improve behavior and enhance performance level or productivity. When you appear attractively dressed and groomed, personally authentic, and appropriate for the occasion, you act more secure, at ease, mannerly, competent, and naturally able to do your best.
4. The Way Others React and Respond to You
Your appearance is the one personal characteristic that is immediately obvious and accessible to others. You can’t hide it. Your appearance makes a strong statement about your personality, values, attitudes, interests, knowledge, abilities, roles, and goals. You can’t afford to be seen as disrespectful, antagonistic, affected, scatterbrained, irresponsible, ineffective, or unproductive. You can’t afford to create a negative impression or to build barriers between you and others because of unattractive, inappropriate, distracting, or offensive appearance.
When you appear attractively dressed and groomed, personally authentic, and ap
Economy of money, banking, and finance EuroMAC_Ch11.pptxetebarkhmichale
The 5 C's of leadership are:
1. Communication: Effective leaders are skilled communicators who can convey their ideas clearly, listen actively, and foster open dialogue among team members.
2. Confidence: Strong leaders have confidence in themselves, their abilities, and their decisions. They inspire trust and instill confidence in others through their demeanor and actions.
3. Commitment: Leaders demonstrate commitment to their goals, vision, and values. They are dedicated to the success of their team or organization and are willing to put in the necessary effort and resources to achieve it.
4. Creativity: Successful leaders are innovative and adaptable, able to think outside the box and find creative solutions to challenges. They encourage creativity and embrace new ideas and perspectives.
5. Character: Leaders with strong character possess integrity, honesty, and ethical behavior. They lead by example, earning respect and trust from their followers through their actions and moral principles.The 5 C's of leadership are:
1. Communication: Effective leaders are skilled communicators who can convey their ideas clearly, listen actively, and foster open dialogue among team members.
2. Confidence: Strong leaders have confidence in themselves, their abilities, and their decisions. They inspire trust and instill confidence in others through their demeanor and actions.
3. Commitment: Leaders demonstrate commitment to their goals, vision, and values. They are dedicated to the success of their team or organization and are willing to put in the necessary effort and resources to achieve it.
4. Creativity: Successful leaders are innovative and adaptable, able to think outside the box and find creative solutions to challenges. They encourage creativity and embrace new ideas and perspectives.
5. Character: Leaders with strong character possess integrity, honesty, and ethical behavior. They lead by example, earning respect and trust from their followers through their actions and moral principles.
CRM 101: What is CRM?
This is a simple definition of CRM.
Customer relationship management (CRM) is a technology for managing all your company’s relationships and interactions with customers and potential customers. The goal is simple: Improve business relationships to grow your business. A CRM system helps companies stay connected to customers, streamline processes, and improve profitability.
When people talk about CRM, they are usually referring to a CRM system, a tool that helps with contact management, sales management, agent productivity, and more. CRM tools can now be used to manage customer relationships across the entire customer lifecycle, spanning marketing, sales, digital commerce, and customer service interactions.
A CRM solution helps you focus on your organization’s relationships with individual people — including customers, service users, colleagues, or suppliers — throughout your lifecycle with them, including finding new customers, winning their business, and providing support and additional services throughout the relationship.
Who is CRM for?
A CRM system gives everyone — from sales, customer service, business development, recruiting, marketing, or any other line of business — a better way to manage the external interactions and relationships that drive success. A CRM tool lets you store customer and prospect contact information, identify sales opportunities, record service issues, and manage marketing campaigns, all in one central location — and make information about every customer interaction available to anyone at your company who might need it.
With visibility and easy access to data, it's easier to collaborate and increase productivity. Everyone in your company can see how customers have been communicated with, what they’ve bought, when they last purchased, what they paid, and so much more. CRM can help companies of all sizes drive business growth, and it can be especially beneficial to a small business, where teams often need to find ways to do more with less.
Here’s why CRM matters to your business.
CRM is the largest and fastest-growing enterprise application software category, and worldwide spending on CRM is expected to reach USD $114.4 billion by the year 2027. If your business is going to last, you need a strategy for the future that’s centered around your customers, and enabled by the right technology. You have targets for sales, business objectives, and profitability. But getting up-to-date, reliable information on your progress can be tricky. How do you translate the many streams of data coming in from sales, customer service, marketing, and social media monitoring into useful business information?
A CRM system can give you a clear overview of your customers. You can see everything in one place — a simple, customizable dashboard that can tell you a customer’s previous history with you, the status of their orders, any outstanding customer service issues, and more. You can even choose to include information
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
The Evolution and Impact of OTT Platforms: A Deep Dive into the Future of Ent...ABHILASH DUTTA
This presentation provides a thorough examination of Over-the-Top (OTT) platforms, focusing on their development and substantial influence on the entertainment industry, with a particular emphasis on the Indian market.We begin with an introduction to OTT platforms, defining them as streaming services that deliver content directly over the internet, bypassing traditional broadcast channels. These platforms offer a variety of content, including movies, TV shows, and original productions, allowing users to access content on-demand across multiple devices.The historical context covers the early days of streaming, starting with Netflix's inception in 1997 as a DVD rental service and its transition to streaming in 2007. The presentation also highlights India's television journey, from the launch of Doordarshan in 1959 to the introduction of Direct-to-Home (DTH) satellite television in 2000, which expanded viewing choices and set the stage for the rise of OTT platforms like Big Flix, Ditto TV, Sony LIV, Hotstar, and Netflix. The business models of OTT platforms are explored in detail. Subscription Video on Demand (SVOD) models, exemplified by Netflix and Amazon Prime Video, offer unlimited content access for a monthly fee. Transactional Video on Demand (TVOD) models, like iTunes and Sky Box Office, allow users to pay for individual pieces of content. Advertising-Based Video on Demand (AVOD) models, such as YouTube and Facebook Watch, provide free content supported by advertisements. Hybrid models combine elements of SVOD and AVOD, offering flexibility to cater to diverse audience preferences.
Content acquisition strategies are also discussed, highlighting the dual approach of purchasing broadcasting rights for existing films and TV shows and investing in original content production. This section underscores the importance of a robust content library in attracting and retaining subscribers.The presentation addresses the challenges faced by OTT platforms, including the unpredictability of content acquisition and audience preferences. It emphasizes the difficulty of balancing content investment with returns in a competitive market, the high costs associated with marketing, and the need for continuous innovation and adaptation to stay relevant.
The impact of OTT platforms on the Bollywood film industry is significant. The competition for viewers has led to a decrease in cinema ticket sales, affecting the revenue of Bollywood films that traditionally rely on theatrical releases. Additionally, OTT platforms now pay less for film rights due to the uncertain success of films in cinemas.
Looking ahead, the future of OTT in India appears promising. The market is expected to grow by 20% annually, reaching a value of ₹1200 billion by the end of the decade. The increasing availability of affordable smartphones and internet access will drive this growth, making OTT platforms a primary source of entertainment for many viewers.
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Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
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Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...my Pandit
Dive into the steadfast world of the Taurus Zodiac Sign. Discover the grounded, stable, and logical nature of Taurus individuals, and explore their key personality traits, important dates, and horoscope insights. Learn how the determination and patience of the Taurus sign make them the rock-steady achievers and anchors of the zodiac.
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Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
In this keynote, Luan Wise will provide invaluable insights to elevate your employer brand on social media platforms including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok. You'll learn how compelling content can authentically showcase your company culture, values, and employee experiences to support your talent acquisition and retention objectives. Additionally, you'll understand the power of employee advocacy to amplify reach and engagement – helping to position your organization as an employer of choice in today's competitive talent landscape.
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Note on Principles of Marketing I.ppt
1. UNIVERSITY OF ABUJA
DEPARTMENT OF BUSINESS ADMINISTRATION
FIRST SEMESTER LECTURES, 2014/2015 SESSION
Course Code: Bus 213
Course Title: Principles of Marketing I
Course Lecturer: Dr. Bello Ayuba,
FCAI, MAOM,MAIB,MNIM,MNIMN
8th February, 2015
2. COURSE OUTLINE
Introduction
The course principles of marketing provides a
framework for analyzing recurrent problems in
marketing. It focuses on major decisions
marketing managers face in their efforts to
harmonize the organizations’ objectives,
capabilities and resources with market place
needs and opportunities. It was designed to give
students and marketing practitioners a clear
understanding of marketing principles, strategies
and practices. Topics to be covered include:
6. Course Outline………………………………….
4. Product Life-Cycle Strategies:
Meaning of Product Life-Cycle
Stages of the Product Life-Cycle (i.e
Strategies at Introductory Stage,
Growth Stage, Maturity and Decline
Stages).
7. Course Outline………………………………….
5. Marketing Environment:
Meaning of Marketing Environment,
Macro- Environmental Variables
Micro- Environmental Variables
Analysis of the Variables
8. Course Outline………………………………….
6. Marketing and Society:
Relationships Between Marketing and
Society
Contributions of Marketing to the Society
Societal Problems of Marketing
Marketing Responses to Societal Criticisms
Consumerism
Marketing Ethics (Ethical and Un-ethical
Marketing Practices).
Social Responsibility
9. Course Outline………………………………….
7. Consumer Behaviour:
Definition of Consumer Behaviour
Factors Influencing Consumer Buying
Behaviours
Consumer Buying Decision Process
Types of Consumer Buying
Behaviours
The Buying Roles
11. Course Outline………………………………….
9. Recommended Texts:
Kotler, Philip (2006), Principle of
Marketing, Prentice Hall, New York.
David, Jobber (1998), Marketing,
McGraw Hill, London.
Ayuba, Bello (2008), Marketing:
Principles and Management, Shukrah
Printers, Kaduna.
12. DEFINITION OF MARKETING
Kotler (1991) defined Marketing as a social
and managerial process by which individuals
and groups obtain what they need and want
through creating and exchanging products
and value with others.
Peter Drucker(1973) defined Marketing as
the whole business seen from the point of
view of its final result, customer satisfaction.
Ryam sees marketing as a bridge between
production and consumption.
13. Definition of marketing Continues……..
The American Marketing Association (1935)
asserted that, Marketing consists of those activities
involved in the flow of goods and services from
the point of production to the point of
consumption.
The amended AMA (2004) definition thus read:
“Marketing is an organizational function and a set
of processes for creating, communicating, and
delivering value to customers and for managing
customer relationships in ways that benefit the
organization and its stakeholders”.
14. THE BASIC CONCEPTS OF
MARKETING
Needs, Wants and Intentions Demand
Products or Services
Utility, Value and Satisfaction
Exchange Transactions and
Relationships (Market, Marketers, and
Marketing)
15. MARKETING FUNCTIONS
For a marketing system to be effective, there are
three general types of functions which it must
provide.
Exchange functions which comprise buying,
selling and pricing.
Physical functions which comprises assembling,
transport and handling, storage, processing and
packaging, grading and standardization.
Facilitating Functions which comprises financing
and risk bearing, market Information, demand
and supply creation, market research.
16. Marketing functions……………………..
Identification of Customers Needs or Markets
Designing the Products or Services to Satisfy the
Needs
Communicating Information about the Products or
Services
Making the Products or Services Available
Applying an Appropriate Pricing Strategy
Market Information
Storage Function
Financing
Making the Necessary Service Follow-up
17. MARKETING MIX
It is the term used to describe the combination of
the four inputs that constitute the core of a
company’s marketing system i.e.
Product
Price
Place and
Promotion
Some authors have extended its usefulness by
proposing a seven P’s, such as People, Process
and Physical Evidence (Kotler, 1999).
18. Product
Stanton (1964) defined product as a set of
tangible and intangible attributes including
packaging, colour test, price, manufacturer’s
prestige, retailer’s prestige, as well as
manufacturers’ and retailer services which the
buyer may accept as offering wants
satisfaction.
A product is anything offered for attention,
acquisition, use or consumption that might
satisfy a want or need. Products can be physical
objects, service, persons, organizations and
ideas.
19. Price
According to Marsh (1988:87), “pricing is
a very important element in the marketing
mix, as it is the only element of the
marketing mix which produces revenue.
All the other parts of the marketing mix
are cost-driven”. Price is the term being
used to describe money value of an item;
it is the term expressed in any monetary
medium whereby the exchange occurs.
20. Place
Place is an element of the marketing
mix which deals with how
manufacturers distribute products to
the consumers. The movement of
goods and services from the
manufacturer to the consumer is
known as distribution.
21. Promotion
Promotion is any effort whose function is to
inform customers about the existence of a
product or services with a view to induce
them either to start or continue buying the
product or services.
Promotion is one of the major forms of
marketing communications, which include
advertising, personal selling, sales promotion,
and public relations (Kotler, 1991). These are
therefore referred to as the promotional mix.
22. Three Levels of Product
Core Product: Benefits. For instance the purchase
of drill is “buying holes: a hotel guest is buying
“rest and sleep”. Thus, Marketers must see
themselves as benefit providers.
Actual or Tangible Product: This include
product features such as quality, styling, branding,
packaging, labeling etc.
Augmented product: This consists of
installations, delivery, credit, warranty, and after
sales services. Consumers tend to see product as
complex bundles of benefits that satisfies their
needs.
23. Products Classification
Classification Based On Durability and Tangibility
Non Durable Goods: These are tangible goods
that are normally consumed in one or two uses e.g.
Soap, beer and so on.
Durable Goods: These are tangible goods that
survived many uses e.g. refrigerators, clothing,
radio, television, chairs e.t.c.
Services: these are intangible, inseparable,
variable and perishable as a result; they normally
required more quality control, supplier credibility
and adaptability.
24. Products Classification Continues…..
A. Consumer Goods
Armstrong defined consumer goods as products
bought by the final consumer for personal
consumption. It is any goods that is bought for
household use e.g. Cars, food, etc. Consumer
goods can further be subdivided into the
following:
1. Convenience Goods: consumers have adequate
knowledge, they are frequently purchased with a
minimum of effort, inexpensive and readily
available when customers need them.
25. Products Classification Continues…..
Convenience goods are further sub-divided into:
Staple Goods: These are goods that consumers
purchase on a regular basis e.g. Toothpaste, Soap,
milk, sugar, oil etc.
Impulse Goods: These are goods that consumers
have no intention of buying but may decide to buy
due to the impulse or how the goods are displayed.
E.g. Magazines, Newspapers, Ice-Cream etc.
Emergency Goods: These type of goods are
purchased when a need is urgent and the cost is
usually high because of the urgency e.g. Drugs
Umbrella during rainfall.
26. Products Classification Continues…..
2. Shopping Goods: Less frequently Purchased,
consumers makes comparison on quality, Price
and style in buying. E.g. Furniture, Clothing
etc. This is sub-divided into:
Homogeneous Goods: Goods that are similar
in quality but different enough in price to
justify shopping comparisons.
Heterogeneous Goods: - Goods that are
different with features are often more important
to the consumer than the price.
27. Products Classification Continues…..
3.Specialty Goods: These are consumer goods with
unique characteristic and/or brand identification
for which a significant group of buyers is
habitually willing to make a special purchasing
effort.
4. Unsought Goods: These are consumer products
that the consumers do not know about or knows
about but does not normally think of buying. Most
major unsought goods are not known until the
consumers become aware of them through
advertising. E.g Life insurance, encyclopedias etc.
28. Products Classification Continues…..
B. Industrial Products
These are those products that are purchased for
further processing or for use in conducting a
business. E.g. A car bought for business
purpose. These groups of industrial products
are:
Materials and Parts
Capital Items
Suppliers and Business Services
29. Products Classification Continues…..
Materials and Parts:
Raw Materials: (wheat, cotton, livestock, fruits,
Vegetables, fish, crude oil, iron ore etc).
Farm Products: (Juice: Chivita, five alive, Corn
beef etc) which requires assembly, grading,
storage, transportation and selling service. Their
perish ability and seasonal nature gives rise to
special marketing practices.
Natural Products: are highly limited in supply.
They are usually very expensive and have low unit
value and require substantial transportation.
30. Products Classification Continues…..
Manufactured Materials and Parts
Components materials: which includes Iron,
Cement, Wires etc they are usually
fabricated further. Example cement in
building house
Components parts include small motors, seat
belts, bulbs etc. These enter the finished
product completely with no further changes
in forms, as seat belts are put in Cars.
31. Products Classification Continues…..
Capital Items Capital items are long lasting goods,
they are of two groups:
Installations: which consist of Building (factories
and offices) and fixed equipments (generators,
elevators, large Computer system, drill presses)
Accessory Equipment: They are less expensive and
have shorter life’s than installation This consists of:
(i) Portable factory equipments and tools (e.g. hand
tools, lift trucks)
(ii) Office equipments (e.g. Calculator, Cluck,
personal Computers desks)
32. Products Classification Continues…..
3. Supplies and Business Services:-
This is short lasting goods and services that are
equivalent to convenience goods in the industrial
field; they are usually purchased with a minimum
effort on a straight re-buy basis, they are normally
marketed through intermediaries because of their
low unit value and the great number and
geographical dispersion of customers. This
include; (i) Operating Supplies: Lubricants, coal,
writing paper, panels, stationary etc. (ii)
Maintenance and repair items (paint nail, brooms).
33. Pricing Objectives
The Pricing objectives of any Marketing
Company are:
Price Stability
Returns on Investment
Profit Motive
Maintain or Improve Market Share
Prevent Competition
34. Pricing Problems
There are several problems that are
commonly encountered which conspire to
prevent the objectives of pricing being
achieved, these include:
A given price, while acceptable in one
sector of the market, may be too high or
low elsewhere
The price may be viewed by sections of the
market as exploitative and the company
consequently seen as untrustworthy
35. Pricing Problems Continues……
Price differentials across the product line may
be illogical
The price may destabilize a previously stable
market
The price may lead to a degree of confusion
in the market
The price may damage or inhibit brand
loyalty
The strategy may well lead to an increase in
buyers’ price sensitivity
36. Place
Place involves those management task concerned
with making the product available and accessible to
buyers and potential buyers (Distribution).
What Is Distribution?
Distribution is defined as the movement of products
from the point of production to the point of
consumption. It can simply be defined as the
transfer of goods from producers to consumers.
Distribution involves physical activities such as the
use of middlemen, transporting and storing of
goods in order to provide target customers with
time, place and possession utilities.
37. Place Continues……….
There are two aspects of Distribution:
Physical Distribution
Institutional Distribution
Physical Distribution deals with the physical
transportation or movements of goods and
services from the point of the production line
to the point of use.
Institutional Distribution deals with the
enterprises and individuals such as
wholesalers, retailers, Agents, supermarkets
and market stores.
38. Major Activities of Physical Distribution
The major decisions issues involved in physical
distribution activities include:
Inventory Control-(Control of Inventories,
Production Schedule).
Materials Handling- (Loading and Unloading
Trucks, Conveyors and Containers, Packaging,
Labeling).
Order Processing-(Processing Customers orders)
Transportation- (Moving Goods to Places)
Storage Function-(Ownership of Warehousing
Facilities)
39. Channels of Distribution
The Channels of Distribution are the means
employed by manufacturers and sellers to get
their products to market and into the hands of
users. (Manufacturer ------ Wholesaler ----- Retailer --- Agent ----- Consumer).
It is the combination of institutions which direct
the company’s product to consumers. Channels
are management tools used to move goods from
production to consumption; by which the title to
goods is transferred from seller to buyer. In
essence therefore, Channels are tools hired to do
the job of getting goods from factory or place of
production into the hands of the ultimate user.
40. Channels of Distribution Continues…
There is a variety of intermediaries that may get
involved before a product gets to the final user:
Retailers- (operate outlets trade directly)
Wholesalers (usually specialize in particular
products.
Distributors and Dealers: they often sell onto the
end user. They provides after-sales service.
Franchises: Franchises are independent businesses
that operate a branded product (usually a service) in
exchange for a license fee and a share of sales.
Agents: Operate on Commission
41. Functions of Distribution Channel
Main Function: Provide a link between
production and consumption. The many key
functions are:
Information: marketing intelligence gathering
Promotion: communicating information about
the product or services.
Contact: Finding and communicating with
prospective buyers
Matching: Adjusting the offer to fit a buyer’s
needs, including grading,
42. Functions of Distribution Channel Continues…
Negotiation: Reaching agreement on price,
assembling and packaging.
Physical Distribution: Transporting and Storage
Financing: Acquiring and using funds to cover the
cost of the distribution
Risk Taking: Assuming some commercial risks by
operating the channel (e.g. holding stock)
All of the above functions need to be undertaken
and of importance is who performs them and how
many levels there need to be in the distribution
channel in order to make its cost effective?
43. PROMOTION
Promotion is one of the basic elements of
the Marketing mix. When product is
launched newly into the market,
aggressive promotional effort has to be
embarked upon to create the awareness
in potential customers. In this lecture, we
shall attempt to evaluate the objectives of
promotion, needs for promotion,
promotional mix elements and the factors
influencing promotion.
44. Objectives of Promotion
The objectives of promotion are as
follows:
Behaviour Modification
Informing
Persuasion
Reminder promotion
45. Needs for Promotion
1.This distance between producers and consumers
2.The number of potential consumers grows daily
3.The Mobility of consumer’s from place to place.
4.The communication network between the
manufacturer, the marketing intermediary and
the potential customers.
5.The intense competition among firms.
6.Competition between individual firms within an
industry.
46. Needs for Promotion
7.Abundant want satisfaction. Customers are
becoming more selective in their buying
choices.
8.During period of shortages, advertising can
stress product conservation and efficient uses
of the product.
9.Promotional activities can be used to aid
consumers in “making do” and incidentally,
help build the company image.
10.Promotion is needed to maintain the high
material standard of living.
47. Promotional Mix
Promotional mix is communicational in
nature, they are tools normally classified
under promotion, and they are called
promo tools. This includes advertising,
personal selling, sales promotion, publicity,
packaging, sales aids (catalogues,
literatures, films), trading stamps,
premiums, free samples, coupons etc. The
four promotional tools are to be explained
as follows:
48. Promotional Mix
Advertising this is any paid form of non-personal
presentation and promotion of ideas, goods or
services by an identified sponsor.
Personal selling this involves oral presentation
in a conversation with one or more prospective
purchasers for the purpose of making sales.
Sales promotion this is a short-term incentive to
encourage purchase or sales of a product or
service.
Publicity this is another form of mass selling. It is
any unpaid form of non-personal presentation of
ideas, goods or services.
49. Advertising
P. Kotler defined advertising as any paid form
of non-personal presentation and promotion of
ideas, goods and services through mass media
such as newspapers, magazines, television or
radio by an identified sponsor. Before
advertisement is carried out the following
decisions must be made:
1. If the organization is going to make use of
an advertising agency or performing the
entire function internally and the criteria by
which such an agency would be selected.
50. Advertising
1. How much the organization is going to spend
on advertising that will reflect a percentage of
anticipated sales?
2. The organization should also decide on when
the advertising budget should be spent. If it
should be spent evenly in the year or when
sales are normally lowest.
3. The media at which the organization will use to
advertise in reaching its targeted customers, as
well as decisions on how to select the various
media organizations for the advert placement.
51. Reasons for Advertising
1.To create awareness, customer interest or desire.
2.To boost sales.
3.To build brand loyalty (or to maintain it at the
existing level).
4.To launch a new product.
5.To change customer attitudes – perhaps trying to
move a product more “up market” or to dispel
some widely held perceptions about the product.
6.To support the activities of the distribution
channel (e.g. supporting a “pull” strategy).
52. Reasons for Advertising
7.To build the company or brand image.
8.To remind and reassure customers
9.To offset competitor advertising – business may
defend market share by responding to
competitors’ campaigns with their own
advertising.
10.To boost public standing: companies can boost
their public standing with advertisements that
link them with generally approved campaigns.
11.To support the sales force.
53. Factors Influencing Promotional Mix.
Four factors that should be taken into
account in deciding on the promotional
mix are:
Funds Available
The nature of the market
The nature of the product and
The stages of the product life cycle.
54. MARKETING MANAGEMENT
Introduction
Marketing management provides the
framework for analyzing recurrent problems in
marketing. It focuses on the major decisions
marketing managers and top management faces
in their efforts to harmonize the organizations
objectives, capabilities and resource with market
place needs and opportunities. It is
comprehensive as it gives clear guide to
managers on how to carry out strategic, tactical
and administrative marketing.
55. Marketing Management Continues……..
Marketing management is crucial to the survival
of any marketing organization in today’s
competitive business world. As organizations
continues to expand, through market penetration,
product development, market development and
diversification, coordination of efforts becomes
more complex and strategic and thus, managers
find marketing management which involves
proper analysis, planning, implementation and
control of programs as an important ingredient
for the success of any marketing activity.
56. What Is Marketing Management?
America marketing association (1985) defines
marketing management as “the process of
planning and executing the conception, pricing,
promotion and distribution of ideas, goods and
services to create exchanges that satisfy
individual and organizational objectives.
P. Kotler (1991) defines marketing management
as “the analysis, planning, implementation and
control of programs designed to bring about
desired exchange with target markets for the
purpose of achieving organizational objectives.
57. IMPORTANCE OF MARKETING MANAGEMENT
The importance of marketing management can never
be over emphasized as it’s:
Provides the understanding you need about the
economic structure of your industry.
Helps in identifying segments within your market.
Identify the marketing strategy, which best fits,
your company.
Identifying your target market.
Helps in conducting marketing research
58. Importance of Marketing Management
Understand your competitors and their products
Develop new products
Establish environment-scanning mechanism
Understand your coy strength and weakness.
Audit your customer’s experience of your brand
Develop marketing strategies for your products
Create a sustainable competitive advantage.
Understand where you want your brands to be in
the future, and write marketing Plans.
Setup feedback system
59. MARKETING MANAGEMENT
PHILOSOPHIES
Marketing management philosophy is a
consumer oriented philosophy aimed at
identifying and satisfying the consumer’s
needs and wants more efficiently and
effectively in a manner that organizational
goals are achieved. There are six competing
concepts under which an organization
conducts marketing activities. This
philosophy revolves around the following
concepts;
60. Marketing Management Philosophies
1.The Production Concept
2. The Product Concept
3. The Selling Concept
4. The Marketing Concept
5. The Societal Marketing Concept
61. MARKETING ENVIRONMENT
Introduction
This lecture deals with how marketing managers
respond to environmental changes in the marketing
environment. Marketers take the major
responsibility of identifying significant changes in
the environment. Marketers must be trend trackers
and opportunity seekers. A company or
organization’s marketing environment consists of
the actors and forces outside marketing that affect
marketing management’s ability to develop and
maintain successful transactions with its target
customers.
62. Marketing Environment Continues…..
The marketing environment consists of a micro
environment and a macro environment:
The Micro – environment of an organization can
best be understood as comprising all those other
organizations and individuals who directly or
indirectly affect the activities of the organization.
The Macro- environment comprises general trends
and forces which may not immediately affect the
relationships that a company has with its customers,
suppliers and intermediaries, but sooner or later,
macro environmental changes will alter the nature of
these relationships.
64. MARKETING AND SOCIETY
Introduction
Marketing relied heavily on the society for its
success post while the society also owes its
quality of life to marketing. Generally,
marketing makes demands on the society and
the society makes demand on marketing. In
this lecture, we shall identify the underlying
relationships between marketing and society,
and the contribution of marketing to the
society, as well as the unethical marketing
practices.
65. Marketing and Society Continues…..
Environmental Relationship
Marketing operates in an environment that is
external to the firm; it reacts to its environment and
is, in turn, acted upon by it. The environmental
relationships include those with customers,
employees, government, vendors, and the society as
a whole. External relationships form the basis of
the societal issues confronting marketing. Firms
marketing relationship to its external environment
has a significant effect on the degree of success it
achieves. Marketers must always find new ways to
deal with social issues facing marketing.
66. Marketing and Society Continues…..
Contributions of Marketing to the Society:
Improvement on the standard of living
Massive production of Ys to meet societal demand
Specialization of skills
Creation of job opportunities
Promotion of Social causes
Growth of Gross National Product (GNP)
Improvement of bilateral relationship between
different countries through international trade.
Education of the consumers in the society.
67. Marketing and Society Continues…..
Societal Problems of Marketing:
In the course of achieving societal need
(satisfaction), some unwanted output and
activities are generated consciously or
unconsciously. All the unwanted output poses
a serious problem to the society.
Encouragement of materialism
Environmental pollution
Problems of implementing marketing mix
68. Marketing and Society Continues…..
Marketing Ethics
Shelby D. Hunt (1986) defines marketing ethics
as both the study of moral evaluation of
marketing and the standard applied in judgment
of marketing decisions, behavior and
instructions as morally right or wrong.
O. C. Ferrell defines it as the study of right and
wrong with respect to marketing policies,
practices and systems. That it comprises
principles and standards that guide appropriate
conduct in organization.
69. Marketing and Society Continues…..
Unethical Marketing Practices
Un-ethical marketing practices are the kind of
practices that are deceptive, exploitative and
dangerous to human life. Unethical marketing
also means criticisms of marketing. The
various social criticism of marketing can be
classified into those alleged to hurt individual
consumers, society as a whole and other
business firms. The Areas of un-ethical
Marketing practices in Nigeria Include:
70. Marketing and Society Continues…..
Areas of Un-ethical Practices:
Un-ethical Marketing Practices Related to
Product
Un-ethical Marketing Practices Related to
Price
Un-ethical Marketing Practices Related to
Distribution
Un-ethical Marketing Practices Related to
Promotion
71. ORGANIZATIONAL BUYER BEHAVIOR
Introduction
Business organizations not only sell, but they also
buy vast quantities of raw materials, manufactured
parts, installations, accessory equipment’s supplies
and business services.
Government agencies and institutions alike also
buy one product, service or the other, in this topic,
we are going to consider business organizations and
government and institutions as another segment of
buyers - the organizational buyer. The mode of
buying by these institutions will also be analyzed.
72. Meaning of Organisational Buyer Behaviour
While there are more households consumers than
organizational buyers, there are a considerable
number of people making buying decisions for their
organizations. However, there is a vast amount of
organizational buying that must be done in order
they ultimately reach the household consumers.
Organizational buying has been defined as
decision-making process by which formal
organizations establish the need to purchase
products and services and identify, evaluate and
choose among alternative brands and suppliers.
73. CHARACTERISTIC OF INDUSTRIAL MARKET
Fewer Buyers
Larger Buyers
Close Supplier - Customer Relationship
Geographic concentration of buyers.
Derived demand
Inelastic demand
Fluctuating demand
Several Buying Influences
74. TYPES OF ORGANISATIONAL BUYERS
There are three different types of organizational
buyers, these are:
1.The industrial market also called producer or
commercial market.
2.The seller or institutional market and
3.The government Market.