MANAGING THE
MARKETING FUNCTION
CHAPTER 11
Chapter 11
1 2 3
What is the Marketing The Engineer and the Strategic Marketing for
Concept? Four P’s of Marketing Engineers
Introduction:
Engineer Managers are engaged in the production of
tangible or intangible goods. Some of these engineer managers
are directly responsible for marketing the company’s products
or services. If he is promoted as general manager, both the
production and marketing functions become his overall
concern.
At whatever management level the engineer manager work,
he must be concerned with convincing other to patronize his
outputs.
The
Marketing
Concept
Marketing is a group of
activities designed to facilitate and
expedite the selling of goods and
services.
The Marketing Concept states that the engineer must try to
satisfy the needs of his clients by means of a set of coordinated
activities.
The Engineer and the Four P’s of Marketing
The engineering organization will be able to meet requirements of its clients depending on
how it uses the four P’s of marketing which are as follows:
01. 02. 03. 04.
The Promotion
The Product The Price The Place
The Product
Are the tangible (or intangible) item
and its capacity to satisfy a specific
needs.
The services provided by the engineer
manager will be evaluated by the
client on the basis of whether or not his
or her exact needs are met.
The Price
“The money or other
considerations exchanged for the
purchase or use of the product,
idea, or service.”
The Place
Not every place is the right
location for any company. It is
very important for companies
to locate in places where they
can be easily reached by the
customers.
Hiring sales agent to cover
1
specific areas
When the company cannot be Selling to dealers in particular
2
near the customers, it uses other areas
means to eliminate or minimize
the effects of the problem. Some
of these means are:
3 Establishing branches where
customers are located
Establishing franchises in
4 selected areas
The
Promotion
McCarthy and Perreault define
promotion as “communicating
information between seller and
potential buyer to influence
attitudes and behavior.
1 Advertising
2 Publicity
The are promotional tools
available and the engineer
manager must be familiar with
them if he wants to use them
effectively. These tools are:
3 Personal selling
4 Sales promotion
Strategic Marketing for Engineers
Companies, including those managed by engineer managers, must serve
markets that are best fitted to their capabilities. To achieve this end, a very
important activity called strategic marketing is undertaken.
Under this set-up, the following steps are made:
1 Selecting a Target Market 2 Developing a Marketing Mix
Selecting a Target Market
A market consists of individuals or organizations, or both, with the desire
and ability to buy a specific product or service. To maximize sales and
profits, a company has the option of serving entirely or just a portion of its
chosen market. Within markets are segments with common needs which will
respond similarly to marketing action.
Divide the total market into groups of
1 people who have relatively similar
product or service needs.
In selecting a target market, the 2
Determine the profit potentials of
following steps are necessary: each segment
Make a decision on which segment or
3 segments will be served by the
company
Factors Used in Selecting a 1
Target Market. A target market The size of the market, and
must have the ability to satisfy
the profit objectives of the
company. In selecting a target
market, the following must be
taken into consideration: 2 The number of competitors serving a
market
Developing a Marketing Mix
After the target market has been identified, a marketing mix must be created
and maintained. The marketing mix consists of four variables: the product,
the price, the promotion, and the place (or distribution).
The engineer manager can manipulate any or all variables to achieve the
company’s goals.
