Mba In Marketing Is About Creating Exchange

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Generally we know that marketing is the process of planning and executingthe conception, pricing, promotion, and distribution of ideas, goods andservices to create exchange and satisfy individual and organizationalobjectives. So this definition agrees that marketing is a management process,and that it is about satisfying individual objectives: it also introduces theidea that online MBA in marketing is about creating exchange, and that itis about competitors, but neither of the foregoing definitions addressthis. Companies and other organizations might do an excellent job ofmeeting customer needs at a fair price, but still fail simply because othercompanies offer even better products or even better prices- or, more confusingstill, might offer a product which is actually worse and more expensive, but isoffered at a more convenient location or time.

In MBA we learn that the primary reason that accuracy is the most oftenmeasured dimension of sales forecasting performance is that it is the moststraightforward. The dimensions of costs and customer service have less directrelationship with forecasting, are not as easily quantified. Because theambiguity of these relationships varies by company, it is not possible to putforward such universal measures of these dimensions of sales forecastingperformance as we can in the dimension of accuracy. Rather, we need to discussthe impact that sales forecasting has on both cost and customer service andleave the development of company-specific metrics to individual companies.

Management cost:- The cost of managing the sales forecasting functioninvolve the fixed and variable expenses associated with staffing the function,training the personnel involved in developing and using the sales forecasts,and providing the computer systems necessary for maintaining the relevant data,analyzing that data, and communicating the resultant information. In correspondenceMBA courses we know also about the low cost of the product and the factthat it represented a small cost. Although improved forecasting accuracy oftenhas a profound impact upon corporate profit and shareholder value, it is seldompresented as such to upper management.

Given this reality of business management, what is the most effective way todemonstrate the impact of improved sales forecasting performance? Online MBA courses makesable marketing managers to determine what is unique about their organizationand use it to their advantage. They conduct research about what similar organizationare doing to help develop the angle they want to pursue. Additionally, theydecide to whom they should be marketing- the general public, corporations, orspecific groups. They also work to identify new markets, finding untappedgroups for new membership bases, fund-raising opportunities, corporatesponsorships, program participation, partnership, and more.