Understanding the fundamental processes to create value for your customers - Part of the Master in Management
In today’s increasing competition both on the local and domestic scene, every company has to carefully make marketing decisions that will increase the value of its product and/or service offering. In the recently taught Marketing Management course, the MSM Master in Management students learned about the basics of marketing management and that it’s not a one-time activity but an ongoing process for every company that would like to stay ahead of its competitors.
Marketing management is no longer a concern for only the marketing employees but also for all other employees in the company as their activities can, either directly or indirectly, have an impact on the company’s final offer on the market. Therefore, the aim of this course was on providing the students who come from diverse academic backgrounds and experiences with basic marketing skills that will enable them to understand the fundamental processes which companies go through in order to create value for their customers with the aim of retaining and building long-term relationships with customers.
Current Master in Management student Ranveer Mohapatra shared that the key take away from the course for him was learning to create a winning marketing strategy that defines the target market and best serves the customers.
The marketing management course gave students an insight into how to obtain knowledge on customer needs, wants and the competitive environment capturing customer value for the firm. Attracting, selecting and retaining customers through the management of marketing communications and the proper coordination of all marketing efforts. “It was fascinating to me to discuss with my fellow classmates how to build a good customer relationship and how the public relations department deals with customers”, says Ranveer. Furthermore, the course taught the management students how to create products or services that meet the needs of customers through designing a customer-driven marketing strategy and developing an integrated marketing mix.
A course tailored to the current situation
The course was divided over 4 days and taught via distance learning. Dr. Terry Kakeeto-Aelen didn’t just teach the students about the marketing process, consumer buying behavior, building customer relationships and managing the marketing mix. She also included the current situation in the world and started a case discussion with the group on brand marketing in times of the corona crisis.
The onset of the coronavirus pandemic has ushered in so much uncertainty around the world. As a result, consumer-buying behavior has undergone a great change. For a rational consumer, the decision to buy is now heavily shaped by new developments regarding the pandemic. If we take into account these changes and the turbulent times we are living in, it becomes of utmost importance for companies to keep their brands more visible by working together with national governments to find a permanent solution to this global crisis. Thus, the case study “Brand Marketing through the Corona Crisis” was geared towards helping students to appreciate some of the global efforts that companies have undertaken to strengthen their brands during these unpredictable times. These efforts include activities such as being empathetic to customers by waiving unnecessary fees and keeping track of the current developments in the environment using a smart marketing intelligence system. Students also discussed other ways in which companies can continue doing good in order to strengthen their brand positions in the midst of these unprecedented times, e.g., making donations to elderly homes and entertaining the elderly.
“This course cover the fundamentals of what marketing is all about. It gave me great insights into how a company deals with the marketing aspect to grow its business. From attracting leads to engaging prospect and acquiring customers, this course covered it all.” – Ranveer Mohapatra, Master in Management student.
About the Master in Management
The next Master in Management intake starts 28 September 2020 or join our January intake starting on 4 January 2021.
The MSM Master of Arts in Management (MM) program is a one-year full-time master’s program for recent graduates and young professionals (< 3 years of working experience) with the ambition to manage people and processes with success in any organization, country or context.
Our Master in Management provides you with a first necessary step to fast-forward your career to higher levels by providing you with a solid foundation in the practice and theory of management in a fast-changing global world. During this course you will be provided with the opportunity to understand how to steer your organization to high performance in a diverse and multicultural international business context. You will learn from experienced faculty, international companies and fellow participants from different cultural, business and study backgrounds.
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