PAPER NO. 9 MARKETING AND CUSTOMER RELATIONS
GENERAL OBJECTIVE
This paper is intended to equip the candidate with knowledge, skills and attitudes that will enable him/her to apply the principles of marketing and customer relations in credit management.
LEARNING OUTCOMES
A candidate who passes this paper should be able to:
- Apply marketing principles in credit management
- Prepare and implement simple marketing plans
- Link marketing and sales plans to credit policy
- Interpret consumer
CONTENT
Introduction to marketing
- Marketing process
- Importance of marketing
- Basic process
- Roles of marketing
Marketing plan
- Importance of a marketing plan
- Uses of a marketing plan
- Marketing plan process
Market segmentation
- Meaning of market segmentation
- Importance of market segmentation
- Market segmentation process
- Target marketing
- Market positioning
Marketing mix
- Product
- Price
- Place
- Promotion decisions
- People
- Process
- Emerging marketing mix
Consumer and buyer behaviour
- Meaning of consumer and buyer behaviour
- Consumer buying roles
- Consumer buying decision process
- Types of buying decision behaviour
- Business buyer behaviour
- Buyer decision process for new product
- Institution buying behaviour
- Influences on organization buying behaviour
Sales plan function
- Formulation of a sales plan
- Recruitment and selection of a sales team
- Management of a sales team
- Importance of an effective sales team
- Selling process
Modern marketing
- Meaning of marketing information
- Internal records
- Marketing intelligence
- Analysing the macro environment
- Marketing information system
- Source of market information
Customer relations management
- Meaning of customer relations
- Types of customer relations
- Importance of customer relations
- Managing customer perception
- Customer survey
- Do’s and don’ts in customer relations
- Effective listening
- Effective use of telephone
- Customer care training
Customer relationship strategy
- Developing a relationship strategy
- Partnering with customers, decision makers, company support staff and management staff
- Self-image as a dimension of relationship strategy
- Verbal and non-verbal strategies that add value to relationships
- Effect of appearance, voice, manners on relationships
- Conversational strategies that enhance relationships
- Strategies for self-improvement
Current issues in marketing
- Internet marketing
- Global marketing
- Social, ethical and legal issues in marketing
- Ethical concerns for sales staff
- Social responsibility of business
- Sustainability marketing
- Consumer rights and protection
Emerging marketing trends
Share through