What it takes to be a successful company

As the previous discussion, we talked about Philip Kotler’s generic concept of marketing. Now we move forward to a new topic, the marketing management concept of Mckittirie. In this topic we will be more focused on the factory. There is also the labor and management trends that we will further discuss later. First we will be discussing on why marketing management is focused on the factory more than the end-user or the customer. It is harder to determine the customer because they change their mind through the course of time, that’s why, marketing management focuses more on how to make the product better in order to gain the customer’s attention.

This is Oswald Knauth’s idea, which is considered a genius during his time. There was also an idea that they should sell the product at a lower cost but it turn out that the idea back fired because during that time, the technology was not advanced enough to make a product that has lower cost and maintain the same quality.

The other idea came out that they should focus on different markets not that just one, why?!, because nowadays a company that focuses on one product or one market tends to fall apart because they didn’t have any variations therefore the customer is forced to choose their product or choose another company where there are more variations. Some companies, especially the companies that have been opened for a long period of time, refused this idea because they insist on doing their on way and deny the trend today. A company that has a variation means that have options to choose, therefore the customers have lesser chance to abandon your product.

Now let’s talk about labor, as I’ve said, during the time where the idea of production at a lower cost boomed, factories tend to hire a lot of workers, when the idea backfired, a lot of workers lost their jobs. Nowadays, workers are more considered and gave a higher wage.

To sum it all up, marketing management focuses more on the employees and the factory because of the word itself. Management is the process of handling people. If there are no managers, the performance of one company would not be efficient. The company will most likely fail and the employees will lose their job. A good management is the key to a successful company.

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