MARKETING

CONCEPT
PRESENTED BY: DUNE LORDEN TABULOC
DEFINITION
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 The Product
The Price
The Place
The Promotion
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 The engineering organization will be able to meet
the requirements of its clients (or customers)
depending on how it uses the four P’s of marketing
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The Product
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 Definition

The Product

In the marketing sense, the term “product” includes the tangible (or intangible)
term and its capacity to satisfy a specific need.
The product is the most obvious aspect of marketing for engineers. Designing and
creating new products and services is the core job of an engineer. Although
technology is important, marketing helps engineers to create better products.
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 Example
When a customer buys a car, he is buying the comfortable ride he anticipates to
derive from the car.
This is not to mention the psychological benefits attached to the ownership of a
car.
Marketing helps engineers to create products that
The first law of consumer behaviour is that
meet the needs of customers. Engineering
customers buy stuff for what it means to them,
focuses on the technical aspects of a product such
not what it does. Consequently, this law implies
as a car or a computer. Marketing tries to
that creating new products not only requires
understand how customers extract value from
knowledge of engineering; it also requires
these objects.
engineers to understand psychology.
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 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.
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. When improvement is not possible, “extras” or “bonuses” are
given to clients.
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The Price
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 Definition
The Price

Price refers to “the money or other considerations exchanged for the purchase or
use of the product, idea or service.”
Some companies use price as a competitive tool or as a means to convince the
customer to buy.
Determining the price of a project is a common task for engineers. Many engineers
spend a lot of time estimating the cost of a future project or controlling the costs of
works in progress. Engineering price estimates use technical considerations, such
as the cost of materials and labour and external services.
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 THE PLACE
• It is the point where the product are
made available to customers.
• 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 the companies
to locate in places where they can be
easily reached by their customers.
THE PLACE

•When a company cannot be near the

customers, it can also use other means to
eliminate or minimize the effects of the
problem. Some of these means are:
• Hiring sales agents to cover specific
areas;
• Selling to dealers in particular areas;
• Establishing branches where
customers are located;
• Establishing franchises in selected
areas.
THE PROMOTION
The activity or process in order to inform,
persuade and influenced the buyers to make the
purchasing decision.
McCarthy and Perreault define promotion as
“communicating information between seller and
potential buyers to influence attitude and
behavior”.
There are promotional tools available and the
engineer manager must be familiar with them if
he wants to use them effectively.
1. Advertising
• Nylen defines advertising as “a paid message that
appears in the mass media for the purpose of informing
or persuading people about particular products, services,
beliefs, or action”.
• If engineering manager wants to reach a large number of
people, he may use any of the mass media depending on
his specific needs and his budget.
• Each of the public advertising carriers like radio,
television, magazine and newspaper, has their own
specific audiences and careful analysis must be made if
the engineering manager wants to pick the right one.
2. Publicity
• Promotional tool that publishes news or information about a product, service, or idea on
behalf of the sponsor but is not paid for by the sponsor is called publicity.
• The mass media is also the means used for publicity.
• The message may be presented as a news items, helpful information or an announcement.
 • A more aggressive means of promoting the sales
of a product or service. it refers to the “oral
presentation in a conversation with one or more
prospective purchasers for the purpose of making
a sale”
3. Personal • Personal selling may be useful to the marketing
Selling efforts of the engineer manager. If, for instance,
he is the general manager of a firm
manufacturing spare parts, he may assign some
employees to personally seek out spare parts
dealers and big trucking companies to carry their
product lines.
4. Sales Promotion
• Any paid attempt to communicate
with the customers other than
advertising, publicity and personal
selling, may be considered as
sales promotion.
• This includes display, contests,
sweepstakes, coupons, trading
stamps, prizes, samples,
demonstrations, referral gifts, etc.
STRATEGIC
MARKETING
FOR
ENGINEER

BY CUDAL, ANGEL EMELINE

 A marketing Within An analysis of
is consists of
To maximize
markets are the various
The
individuals or sales and segment
segments segments of the
profits, a
organization
company has
with common chosen market or
or both, with needs and will help the
the desire and the option of
which will company make
segments
ability to buy serving chosen
respond a decision on
entirely or just
a specific
a portion of its
similarly to whether to become
product or marketing serve all or
service. chosen
action. some of the
the target
market. segments. market.

SELECTING A TARGET MARKET

STRATEGIC MARKETING FOR ENGINEER 21
 STEPS IN SELECTING
A TARGET MARKET
1. Divide the total market into groups
of people who have relatively similar
product or service.

2. Determine the profit potential of

each segment.

3. Make a decision on which segment 22

or segments will be served by the
company.

STRATEGIC MARKETING FOR ENGINEER

 A smaller company may find it most
profitable to supply only the construction
material needs of the residential segment. A
bigger company however, may find it more
profitable to perform actual construction in
addition to selling construction materials.

 A target market must have the ability to

satisfy the profit objectives of the company.
In selecting a target, the following factors
must be taken into consideration:
1. The size of the market, and
2. The number of competitors serving the
market.

STRATEGIC MARKETING FOR ENGINEER 23

The total demand for the
product service in a given area
must be determined first if the
company wants to serve the
particular market. If there are
existing business serving the 24

market, the net demand must

be considered.

STRATEGIC MARKETING FOR ENGINEER

 DEVELOPING A MARKETING MIX
IDENTIFICATION
ANALYSIS
DESIGN
TESTING
ADOPTION

STRATEGIC MARKETING FOR ENGINEER 25

 Given a marketing environment, the engineer
manager can manipulate any or all variables to
achieve the company’s goal.
 The quality of the product may be enhanced
 The selling price may be lowered
 The promotion activity made a little more
aggressive
 A wider distribution area/place may be 26

covered.
- Any or all of the foregoing may be undertaken
as conditions warrant.

STRATEGIC MARKETING FOR ENGINEER