OBJECTIVES

Describe the 4Ms of

operations in relation to
the business opportunity
 MARKETING
MANAGEMENT
PRACTICES
 (1)
Estimate potential market
demand
Estimation is an educated
guess.
Census data is a good
source of estimates to be
able to project sales.
 (2)
Analyze the
competitors
 Knowing what the
competitor’s marketing is
understanding why the
target market is buying or
will buy from the
competitor
 (3)
Price the
product/services
reasonably
A product can have a great
features and benefits but
the price of the product can
have a greater influence on
how it will sell in the
marketplace.
 (4)
Adopt a good product name
for branding
-A name that is different or
unusual may attract
attention and perhaps
arouse curiosity
 (5)
Put price tags.
All goods which are being
sold must have a price tag.
A price tag is a label to the
price of an item being sold
in store.
Placing a price tag on goods
being sold have following
advantages:
 (a)
The price of an item is
readily available to a buyer
 (b)
It eliminates inconveniences
on both the seller and the
buyer as to the process of
inquiry regarding the prices
of goods being sold
 (c)
A buyer can save time in
choosing goods because he
can easily pick out goods he
can afford
 (d)
The government can easily
monitor stores which are
selling goods at a higher
price than the prices
specified by the Price
Control Council (DTI)
 (6)
Promote the
product/services in various
ways to increase sales
-Products or services of the
firm need to be advertised
in order to generate sales.
-Sales promotions may be
accomplished through any
of the following:
 (I)
Newspaper, radio & other
forms of media
 (II)
Windows displays
-Putting up attractive
window displays in front of
a department store or
supermarket
 (III)
Fashion Shows
-hiring professional models
to model your
clothing/products
 (IV)
Exhibits
-goods may be put on display
by exhibiting in a lobby of a
hotel or in a shopping mall
 (V)
Lectures and Demonstrations
-inviting prospects customers
to attend a lecture about
the products
 (VI)
Product Sampling
-new products such as
cosmetics may be
advertised by giving
prospective customers free
samples
 (VII)
Poster
-A poster is a listing of prices
of various goods found in a
shelf or a corner for the
information of the
customers
 (VIII)
E-MAIL & Websites
Social Network
Telephone
 (IX)
Sales Events
-stores announces the
celebration of certain
events, such as anniversary
to attract buyers to go into
the store
 (X)
Quantity Discounts
-to attract buyers, the store
owners may announce a big
discount on such products
 (7)
Issue official receipts to
customers
All business establishment
are required to issue official
receipts.
 (8)
Practice courtesy and
efficiency in serving
customers
When customers experience
courteous and efficient
service in a business
establishment, most likely
they will patronize again
the business
 (9)
Pack the goods bought by
customers properly
The service to the customers
does not end when the
customers pays for his
goods – loading goods
inside the paper bag should
be done properly.
 (10)
Observe the rights of
consumers
The government realizes the
consumers need protection
from manufacturers who
produces poor quality
goods and provide services
inefficiently