HKSTP DIY Marketing Workshop 2 – Marketing Management

The DIY Marketing Workshops Series aims to help technology companies to know the basic concept of marketing and apply in their businesses and there are 5 workshops series organized by Hong Kong Science & Technology Parks Corporation (HKSTP) from 12 May to 12 July 2016.  The second workshop named “Marketing Management” which held on 26 May 2016.  Prof. Samart Powpaka (Associate Professor, Marketing Department; and Director of MSc Program in Marketing, CUHK Business School of The Chinese University of Hong Kong (CUHK)) was our guest speaker.

In the beginning, Prof. Powpaka introduced Marketing Process which separated into Marketing Planning and Marketing Execution.  In Marketing Planning, it had mission and environmental analysis.  He then explained the good mission statement should ask the following questions:

Q1 – Who are we?

Q2 – Who are our customers?

Q3 – What is our operating philosophy? / What are our core values?

Q4 – What are our core competencies or competitive advantage?

Q5 – What are our concerns and interests related to our employees, our community, social issues, and our environment?

The second part is Environmental Analysis which separated into 2.1) Current Marketing Situations and 2.2) Opportunity & Issue Analysis.  In current marketing situation, types of controllable elements include Objectives, Resources and Competencies, as well as, Marketing Strategy Program (Product offerings, Pricing, Distribution, & Communication).  Types of uncontrollable elements include Demographic Environment, Economic Environment, Technological, Political/Legal Environment, Social / Cultural Environment and Competitive Environment.  On the other hand SWOT and Issue Analysis should be performed.  

After that it needs to set the Objectives, preparing Marketing Strategy and Programs.  He said “A strategy is a fundamental pattern of present and planned objectives, resource deployments and interactions of an organization with markets, competitions, and other environmental factors.”

Then Prof. Powpaka explained the different among Corporate Manager (C), Business Manager (B) and Marketing Manager (M).  Their scope is different and objectives based on Financing (F) and Management (M) is different, as well as, Resource Deployment is also different. 

At the end, he mentioned the Product Life Cycle (PLC).

Reference:

HKSTP - http://www.hkstp.org

20151203: HKSTP DIY Marketing Workshop – Marketing Research - http://qualityalchemist.blogspot.hk/2015/12/hkstp-diy-marketing-workshop-marketing.html

20160512: HKSTP DIY Marketing Workshop 1 – What is Marketing - http://qualityalchemist.blogspot.hk/2016/05/hkstp-diy-marketing-workshop-1-what-is.html