Research Topic: Marketing Strategies of an Organization and Its Effectiveness. Using United Bank for Africa as a Case Study
It’s been discovered that every type of organization both small and large need marketing to survive and continue in business into the foreseeable future. Even though marketing may not be the reason why an organization was established but it stands at the core of business activities. Every organization both those in the public sector or the private sector needs marketing so as to keep their customers, take their products and services to where prospective customers are located, and also be on the lead with their competitors.
What is Marketing? Marketing basically involves relating the needs and desires of the market with the performers’ products or services in order to achieve transfers of ownership. A manufacturer of shoes for example, expects its marketing function to: provide information on consumers preferences with respect to shoes and of size and location of the markets and also the nature of competition; make potential consumers aware of and informed about their products; make the products available at places and at times convenient to the prospective buyers; and participate in the determination of prices that will both be acceptable to the potential buyers and yield profits to the company. Marketing plays the same basic role for all producers of goods, irrespective of what they produce.
Marketing also plays a similar role in connection with the distribution of services. A financial institution for instance expects its marketing staff to: provide information about its market and the kind of services its clients/customers would need, and provide channels through which these services are made available to prospective clients/customers; also make potential clients aware of the types and nature of services available; they also participate in the determination of prices that will both be acceptable to...