PGD ASSIGNMENT - THE MARKETING PHILOSOPHY OF OANDO...

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THE MARKETING PHILOSOPHY OF OANDO MARKETING PLC. BATURE Henry Bitiyak {REG NUMBER: P16ADBA8155} FUNDAMENTALS OF MARKETING (BUAD 807) Dr. M.Y. Abubakar 27 th February, 2017
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Table of Contents Introduction 2 History and Background of Oando Marketing Plc. 4 I. How it all started……………………………………………………………………….. 5 II. Company Framework and Operational Efficiency…………………………………. 6 III. Graphical Representation of Products………………………………………………. 9 Marketing Philosophy.. ……………………………………………………………………… 10 Marketing Philosophy Used in Oando Marketing………………………………………... 13 1
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INTRODUCTION The concept of marketing is neither complicated nor original. ‘The customer is always right’ is a view that has been cited ever since the Industrial Revolution. Marketing acknowledges consumer sovereignty and this has now developed into a management discipline. The subject of marketing as a management discipline originated in the USA in the 1950s, but its origins go back further. America was the birthplace of modern marketing, but in terms of its earliest practice, it was applied much earlier in Europe. The carpenter, tailor, saddler and stonemason knew their customers personally and were in a position to discuss individual needs of size, color, shape and design at an individual level. Craftsmen appreciated they had to provide satisfactory service to customers. The Industrial Revolution gave rise to large scale manufacturing, so this personal contact ended. With mass production came mass markets and mass distribution. Manufacturers were no longer able to offer a personalized service, and techniques of marketing were developed to fill this gap. There is no universally accepted definition of marketing. The way it is understood conditions people’s perceptions of its value and the contribution it can make both to the success of an organization and to the competitive 2
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health of the economy. The term ‘marketing’ means different things to different people. Marketing is based on the premise that the customer is the most important person to the organization. Most people think of the term customer in the con- text of a profit-making facility. Whilst it is true that the marketing concept has been more widely adopted and practiced in the profit- making sectors of the economy, the fundamental principles of marketing are equally applicable in the not-for-profit sectors; a fact that is often overlooked. Marketing as an organizational philosophy and activity is applicable to almost all types of organization, whether profit-making or not-for-profit activities. A marketing philosophy defines the mission of a company using the satisfaction and benefits that using that company offers; it focuses on a two- way system of communication with the customer, so that the marketing department understands the customer needs more clearly. Even though
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