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Engineering Management

The document discusses the marketing concept and the four Ps of marketing - product, price, place, and promotion - as they relate to engineering managers. The marketing concept states that customer satisfaction should be the top priority in order to continually generate business. For engineering managers, their service is the product, and they must ensure it meets customer needs. While price is important when products are similar, uniqueness makes services and ideas less price-sensitive. Place refers to accessibility and location, which can impact customers' purchasing decisions. Engineering managers must consider location strategies to effectively reach clients.

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Shainee Delle Palmera
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85 views

Engineering Management

The document discusses the marketing concept and the four Ps of marketing - product, price, place, and promotion - as they relate to engineering managers. The marketing concept states that customer satisfaction should be the top priority in order to continually generate business. For engineering managers, their service is the product, and they must ensure it meets customer needs. While price is important when products are similar, uniqueness makes services and ideas less price-sensitive. Place refers to accessibility and location, which can impact customers' purchasing decisions. Engineering managers must consider location strategies to effectively reach clients.

Uploaded by

Shainee Delle Palmera
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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MANAGING THE MARKETING FUNCTION

WHAT IS THE MARKETING CONCEPT?

 Marketing is a group of activities designed to facilitate and expedite the selling of goods and
services.
 Marketing concept states that the engineer must try to satisfy the needs of his clients by means
of a set of coordinated activities. When clients are satisfied with what the company offers, they
continually provide business.

THE ENGINEER AND THE FOUR P’S OF MARKETING

1. The product (or service)


 In the marketing sense, the term “product” includes the tangible (or intangible) item and its
capacity to satisfy a specific need.
 The service 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. When a competitor comes into the picture
and sells the same type of service, the pressure to improve the quality of services sold will
be felt.
2. The price
 Price refers to “the money or other considerations exchanged for the purchase or use of
the product, idea or service”.
 When products are similar in quality and other characteristics, price will be a strong factor
on whether or not a sale will be made. This does not hold true, however, in the selling of
services and ideas. This is because of the uniqueness of every service rendered or every
idea generated.

OBJECTIVES VEHICLE RESULT


The marketing objectives product success or failure
Objectives of the price, place,
Engineer manager promotion

3. The place
 If every factor is equal, customers would prefer to buy from firms easily accessible to them.
If time is of the essence, the nearest firm will be patronized.
 It is very important for companies to locate in places where they can be easily reached by
their customers. Not every place is the right location for any company
 When a company cannot be near the customers, it uses other means to eliminate or
minimize the effects of the problem. Some of these means are:
1. Hiring sales agents to cover specific areas
2. Selling to dealers in particular areas
3. Establishing branches where customers are located
4. Establishing franchises in selected areas

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