Managing the Managing

Marketing Function Production and

What is MARKETING CONCEPT?
- Service Operations
A group of activities designed to facilitate and
expedite the selling of goods and services. WHAT IS OPERATION?
FOUR IP’s OF MARKETING Operation refers to “ any process that
 PRODUCT accepts inputs and uses resources to change
The tangible ( or intangible ) item and its capacity to those inputs in useful ways.”
satisfy a specific need WHAT OPERATIONS
 PRICE MANAGEMENT IS
The money or other considerations exchanged for the - “ the process of planning, organizing,
purchase or use of the product, ideas, or services. and controlling operations to reach
 PLACE objectives efficiently and effectively.”
It is very important for the companies to locate their
place where they can be easily reached by their o EFFECIENCY
customers. - “ the cost of doing something, or the
resources utilization involved.”
 PROMOTION
o EFFECTIVENESS
When an engineer manager have products or services to - “ goal accomplishment”
sell, they will have to convince buyers to buy for them
through informing, persuading and influencing.
PROMOTIONAL TOOL TYPES OF TRANSFORMATION
 ADVERTISING PROCESS
A paid message that appears in the mass  Manufacturing Processes- refers to
media for the purpose of informing or the making of products by hand or with
persuading people about particular products, machinery.
services, beliefs, or actions.
 PUBLICITY o Job Shop – “ based on sales orders for
The promotional tool that publishes news or variety of small lots “
information about a product, services, or idea o Batch Flow – “ where lots of generally
on behalf of a sponsor but is not paid for by owned designed products are
the sponsor. manufactured “
o Worker- Paced Assembly Line – “ a
 PERSONAL SELLING
production layout arranged in a
A more aggressive means of promoting the
sequence to accommodate processing
sales of a product or services or “ oral
of large volumes of standardized
presentation in a conversation with one or
products or services “
more prospective purchasers for the purpose
o Machine-Paced Assembly Line- “
of making a sale.
produces mostly standard products with
 SALES PROMOTION machines playing a significant role.”
Any paid attempt to communicate with the o Continuous Flow – “ the rapid rate at
customers other than advertising, publicity, which items move through the system “
and personal selling. That includes displays, o Batch / Continuous Flow Hybrid – “ a
contests, sweepstakes, coupons, trading combination of the batch and the
stamps, prizes, samples, demonstrations, continuous flow and two distinct layouts
referral gifts. are used, one for batch and one for the
STRATEGIC MARKETING FOR ENGINEERS continuous flow “
 SELECTING A TARGET MARKET
 DEVELOPING A MARKETING MIX
  Service Process- “ refers to the - Important management
provision of services to persons by hand responsibility that deals with the
or with machinery “ “procurement and administration of
funds with the view of achieving the
objectives of usiness.
o Service Factory – offers a limited mi x of
services which results to some
economies of scale in operations THE DETERMINATION OF FUND
o Service Shop – provides a diverse mix of REQUIRMENTS
services
 Finance Daily Operation
o Mass Service – provides services to a
large number of people simultaneously
 Financing the Firm’s Credits
o Professional Service – provide Services
specialized services to other firms or  Financing the Purchase of
individuals Inventory
 Financing the Purchase of Major
levels of reserve stocks of goods. Assets
Work-Flow Layout- process of determining
the physical arrangement of the production
system.
Quality Control- measurement of products
or services against standards set by the
company IMPORTANT PARTS OF
PRODUCTIVE SYSTEMS
Product Design- “ the process of creating a
set of product specifications appropriate to
the demands of the situation “
Production Planning and Scheduling- “
forecasting the future sales of a given
product, translating this forecasting into the
demand it generates for various production
facilities, and arranging for the procurement
of these facilities “
Scheduling- “ phase of production control
involved in developing timetables that specify
how long each operation in the production
process takes “
Purchasing and Materials Management-
the approach that seeks efficiency of
operation through integration of all material
acquisition, movement, and storage activities
in the firm.
Inventory Control- process of establishing
and maintaining appropriate.

Managing the Finance

Function
WHAT THE FINANCE FUNCTION IS