UnderSTANDING THE CONCEPT OF MARKETING FOR THE MASTER OF BUSINESS ADMINISTRATION

1. Understanding
Marketing
Management
Asuncion, Joebert Q.

2. Customers are crucial in business environments because their purchases help
generate revenue and make profits for a company. Keeping them satisfied
with the services or products you offer can lead to company growth and
development. If you work in customer service, marketing, or public relations,
it's important you learn ways to ensure your business offerings meet and
exceed customer expectations.
What Is Customer Satisfaction and Why
Is It Important?

3. Customer satisfaction measures how customers feel about a product or
service. Knowing your customers' level of happiness and acting on this
information can help your strategic planning and lead to company success.
What is customer satisfaction?

4. Why is it important to keep
customers satisfied?
● Builds your company's reputation
● Ensures customer loyalty
● Helps in developing trust
● Converts customers into brand ambassadors

5. How to improve customer or client
satisfaction?
1. Communicate with your customers
2. Aim to exceed customer expectations
3. Ensure customers feel valued
4. Recognize and reward customer loyalty
5. Address customer issues promptly

6. Ways to get customer feedback
● Use surveys and polls.
● Offer live chat support.
● Use a customer relationship management (CRM) software.
● Engage with customers on social media.
● Create an online community.

7. Market Oriented Strategic Planning
Market-oriented Strategic Planning is the managerial process of developing
and maintaining a viable fit between the organization’s objectives, skills,
resources and its changing market opportunities.
The aim of Strategic Planning is to shape the company’s businesses,
products, services, and messages so that they achieve targeted profits and
growth.
Winning Markets through Market
Oriented Strategic Planning

8. Strategic Planning
Strategic Planning calls for action in three key areas.
1. Managing a company’s businesses as an investment portfolio.
2. Assessing each business’s strength by considering market growth rate and
company’s positioning.
3. Establishing a strategy

9. The Strategic Planning process is carried out at four organizational level;
1. Corporate Level
2. Divisional Level
3. Business Unit Level
4. Product Level

10. The Strategic Planning at Corporate Level
Four Planning Activities at Corporate Level
1. Defining the Corporate Mission.
2. Establishing Strategic Business Units (SBU).
3. Assigning resources to each SBU based on its market attractiveness and
its strengths.
4. Planning new business, downsizing or terminating old business.

11. Defining the Corporate Mission
When Define its Mission, a Company should look at the following questions;
1. What is our business?
2. Who is the customer?
3. What is the value to the customer?
4. What will our business be?
5. What should our business be?

12. Establishing Strategic Business Units
The second planning activity requires the organization to identify its Strategic
Business Units (SBUs). It is important that SBUs must benefit from separate
planning, face specific competitors and can be managed as individual profit
center.
Two best known business portfolio evaluation model that organizations are using to plan
for the Strategic Business Units are:
Boston Consulting Group model and General Electric Model

13. Boston Consulting Group model
Under the Boston Consulting Group model, organizations can use the matrix to
decide which of its SBUs should be nurtured or diversified. Combination of two
matrix and two variables: (Page 94, Kotler)
· Market Growth Rate
· Relative Market Share

14. General Electric Model
Under the General Electric Model each business is rated in terms of two major
dimensions,
· Market Attractiveness
· Business Strength

15. Business unit strategic planning process consists of eight steps;
1. Business Mission - Define its specific mission within the broader company
mission.
2. SWOT Analysis - Overall evaluation of Company’s strengths, weaknesses,
opportunities and threats.
3. Goal formulation - After SWOT analysis, company proceed to develop
specific goals for the planning period.
4. Strategic formulation - Plan on how to achieve your goal – marketing,
technology and sourcing strategies.
5. Program formulation - Plan programs and cost estimation.
6. Implementation Programs - Style, Skills, Staff and Shared value.
7. Gathering Feedback - Tracking of results and monitoring new developments.
8. Exercise Control.

17. CONCLUSIONS AND KEY
TAKEAWAYS
● Customer satisfaction is very crucial in every business/company.
● Customer satisfaction does not end itself in POS
● Having/selecting the best optimum strategic plan helps businesses in
winning customers over the market.
THANK
YOU