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Principles of marketing

Principles of marketing

HOLY ANGEL UNIVERSITY

School of Business and Accountancy

Angeles City, Pampanga

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Personal Reflective Essay

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In Partial Fulfillment

Of the Requirement of the Course

Principles of Marketing

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Presented to:

Mr.Byron John T. Siy

Presented by:

Tolentino, Aniel Paul C.

A-333 – A40

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September 28, 2017

“Life is like a grindstone. Whether it grinds you down or polishes you up depends on what you’re made of” (Anonymous). During enrollment of our first semester of 3rd Year College, I have been warned many times by my fellow friends and classmates about enrolling to the marketing class of Mr. Byron John Siy. They said that I should not pick his class because I may compromise my academic performance. They advised me that he had a high standard in class so it might be better if I would choose other professor. However, with all the warnings of my friends, I bravely enrolled to Mr. Byron Siy’s class because of my desire to learn marketing in a difficult way. I want to learn not just theories. I want to experience marketing in the most practicable way possible, even though I’m accountancy major.

For the first week of our marketing class, all the rumors were indeed true. The atmosphere our professor brings to the class is very challenging. I was pressured but I maintained my focus and determination to learn. His quizzes were unique to all of my previous instructors because it was an essay type of quiz. He is strict to his rules and has very high standard compared to other marketing professors. Other students may see it scary. But for me, it was like turning bad luck into good luck. Even though I was pushed to exert a lot of effort, I have taken this class into my advantage. My motivation was rooted to my desire to become an entrepreneur someday. Besides from becoming a great certified public accountant, I want to establish my own business after I graduate. This marketing class had become an opportunity for me to learn to become an entrepreneur. Mr. Byron taught the lessons of marketing not just in the four corners of the room but also outside the real world. He let us experience the things other marketing students cannot. He taught the subject as if we were really marketing students.

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Marketing is the art and science of satisfying customers (Boone & Kurtz, 2015). In other words, marketing is all about creating and delivering value to customers, according to Steve Jobs. Studying marketing for one semester is basically not enough. It requires lifetime experiences to be a successful marketer. As defined by Havranek, marketing is an ongoing process, not a one-time project. What our professor had taught us was just a glimpse of the big picture of marketing world. But on a personal level, I have been greatly moved by all the experiences I had in and outside the classroom. I might forget most of the theories discussed in the class but the practical one will always be in my heart. I felt that I have developed my strength of character when I had become the CEO of our company, Krispy Krunch. It was my first time to be a CEO of a real business. It really required me to double my efforts, pushed myself to the limit, and strive harder to reach success. At first I was hesitant to the position assigned to me because I don’t believe I have the right skills and mindset of leading a business. Fortunately, with the love of God and the support of my group members, I was able to meet most of our goals and compete with other company successfully. I had led our company which composed of 20 persons to accomplish a unified goal. Our product was perfect and has given us comparative advantage to others. Our social media was able to communicate our mission. The commercial video had become viral reaching 12″,000+ views. We’ve reached the highest sales during live sell because of our successful marketing strategy. The creation of our buchi mascot was a bright idea. In our fund raising activity, I’ve also learn to incorporate ethics and social responsibility. We maintained our integrity by promoting our products with facts and not merely using good but fake sales talk to persuade our customers. Our social responsibility to preserve the environment was supported by our product packaging where we used recyclable paper containers. As Jeff Bezos once said, “A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.” In this class I’ve learn to create a brand that our company will cherish. It’s all about creating a brand that focuses on the customer rather than the bottom line.

Other essay:   Function of marketing

As we end our marketing class of Sir Byron, I have realized one thing in particular. I realized that establishing a business can be a win-win situation. Not just give and take as traditional business does. We have taught that we can achieve this through social entrepreneurship. According to Schwab Foundation for Social Entrepreneurship, social entrepreneurship is about applying practical, innovative and sustainable approaches to benefit society in general, with an emphasis on those who are marginalized and poor. Krispy Krunch was established to support Share-a-meal program and donate major proceeds to marginalized community. We provide great products that our customers will enjoy while allowing them to help our beneficiaries alleviate poverty. We may not get any part of the sales but the benefit of helping was intangible. “Having social impact built into your business model allows you to live your life on purpose” (Fox, 2016).

Social entrepreneurship

Personal Essay

I. From studying marketing to becoming an entrepreneur

II. How it changed my personality, enhanced my skills, and nourished my future.

a. Theories

b. Practical

III. Learnings from KKSE

IV. Conclusion

Marketing 101: The 7 Customer-Building Basics You Need to Know

http://www.schwabfound.org/content/what-social-entrepreneur

https://www.forbes.com/sites/meimeifox/2016/08/08/5-reasons-why-social-entrepreneurship-is-the-new-business-model/#53ac22c644ca

REFERENCES

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Ball, D. & Tisocki, K (2010) Medicines Price Components in the Philippines [online]. HAI Global Available from: www.haiweb.org/medicineprices/surveys/200807PHC/sdocs/PriceComponentsReportPh ilippines.pdf [Accessed August 11, 2010].

Ong, H. (2016) Financial Adviser: 5 business lessons from The Generics Pharmacy founder, Ben Liuson [online]. Entrepreneur. Available from: http://www..com.ph/business-ideas/5- business-lessons-from-the-generics- pharmacy-founder-ben-liuson-a23-20161108 [Accessed September 2, 2017].

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Go, J. (2014) Q&A with TGP The Generics Pharmacy Chairman & CEO Benjamin Liuson on Competing with Giantshttp [online]. Josiah Go. Available from: //josiahgo.com/qa-with- tgp-the-generics-pharmacy-chairman-ceo-benjamin-liuson-on-competing-with-giants/ [Accessed September 2, 2017].

Fernholz, D. (2012) Case Study Highlights: The Generics[online]. Health Market Innovations. Available from: Pharmacyhttp://healthmarketinnovations.org/blog/case-study-highlights- generics-pharmacy [Accessed September 1, 2017].

Abouts Us [online]. The Generics Pharmacy (TGP). Available from: https://tgp.com.ph/about- us/ [Accessed August 31, 2017].

The Generics Pharmacy [online]. Robinsons Retail Holdings Inc. Available from: http://www.robinsonsretailholdings.com.ph/retail/the-generics-pharmacy [Accessed August 31, 2017].

Soliven, J. (2011) 10 step-marketing-plan-the generics pharmacy. SlideShare. Available from: https://www.slideshare.net/Joan_Soliven/10-stepmarketingplanthe-generics-pharmacy- 8310397 [Accessed September 1, 2017].

Villa Fuerte, F. (2017) Generic Medicines: A Comparative Price Study On Generic Cholesterol And Other Maintenance Medicines [online]. FitzVillaFuerte. Available from: http://fitzvillafuerte.com/generic-medicines-a-comparative-price-study-on-generic- cholesterol-and-other-maintenance-medicines.html [Accessed September 1, 2017].

Definition of ‘Reference Price’ [online]. Economic Times. Available from: http://economictimes.indiatimes.com/definition/reference-price [Accessed September 1, 2017].

Khandelwal, M. (2014) WHY GENERIC DRUGS ARE CHEAPER THAN THEIR BRAND NAME COUNTERPARTS? [online]. LinkedIn. Available from: https://www.linkedin.com/pulse/20141014013218-37298611-why-generic-drugs-are- cheaper-than-their-brand-name-counterparts [Accessed September 3, 2017].

VanLang, C. (2014) Is it ethically wrong for a company to copy drug patents and provide people with cheaper drugs? [online]. Quora. Available from: https://www.quora.com/Is-it- ethically-wrong-for-a-company-to-copy-drug-patents-and-provide-people-with-cheaper- drugs [Accessed September 3, 2017].

Arnold, R. (2015) Principles of Economics. (11th Edition) Pasig City: Cengage Learning Asia Ltd.

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