Logbook Age 1. What did you learn from the

Logbook Marketing Management

 

The completed logbook must be sent
in together with the ALP Marketing Management. The ALP will only be forwarded
for marking once the corresponding logbook has been received.

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To be
completed by the student:

Name Student:     KWABENA ADUSEI
SARPONG

E-mail address:    [email protected]

Submission date:  12/01/2018

 

A well maintained Logbook
serves the following main purposes:

 

·      
A
personal guideline throughout your studies

·      
A
means for reflection on your learning experiences – both during the workshops
and while working on your ALP

·      
A
basis for the Phase 3 assignment Evaluative Assessment of Managerial Learning

·      
A
tool for BSN to monitor your individual studies and preparations

 

This template is divided in three
sections.

 

·      
Section 1: Workshop preparation

·      
Section 2: Workshop participation

·      
Section
3: ALP writing process

Section 1 refers to the preparation
for each workshop-topic of the core course.

 

Section 2 applies to your
learning experiences during the workshop (the conference). In contrast
to your notes in logbook section 1, these do not necessarily need to be
specified in line with the nine topics and may be described in a generic
fashion. But if deemed more appropriate you are obviously free to class them
according to the various subjects nonetheless.

 

Section 3 serves to reflect on
your learning experiences while researching
and writing your Action
Learning Project.

 

BSN acknowledges that certain aspects,
such as your personal experience in relation to the topic, applicability to
your organisation and additional research may not apply to all workshop-topics.

Logbook section
1: Workshop preparation

 

Workshop 1: Disruptive changes in
marketing in the Digital Age

1. What
did you learn from the literature?

a. The article(s)

 

Disruptive marketing can be
defined as an unconventional and innovative way of marketing products and
services by creating or designing new products and services which meet and
exceed the expectations of consumers who are dissatisfied with the existing
orthodox marketing strategies. This eventually creates a new market for these
products and services by disrupting the usual and accepted marketing trends.

 

 

b. Sections from the book(s)

 

N/A

 

 

c. Additional literature you
found yourself

 

Disruptive innovation or
marketing is usually employed by small companies to outwit existing but larger
companies who are usually dominant in the business. This is because the primary
focus of big companies is to maintain existing innovation by emphasizing on
existing product features through further enhancements and cool features to
attract more profitable customers who are likely to pay more for those
additional features. In that case, they ignore the ordinary customers who want
simple low cost alternatives. This is where the disruptive marketing company
comes in with that low cost alternative product which the big players have
ignored and sweeps all the disgruntled and dissatisfied customers into their
fold. Afterwards, gradually take over the market.  

 

 

2. What are your own
experiences in relation to this topic?

 

Assessing
credit from Ghanaian banks is can be a problematic and tortuous process for
customers due to its lengthy paperwork, unrealistic requirements and the length
of time it takes to access the credit. That has been the bane of this very
vibrant industry until somewhere in 2008, a small microfinance company UT
financial services unearthed a disruptive marketing strategy to unsettle the
major players in the banking industry. Typically, traditional banks could use
up to a month to process a customer’s loan request and disburse it to them.
However, UT financial services revolutionized the industry by identifying the
gap in the market and introduced a new market strategy by providing a loan for
customers in less than two days. This resulted in the tagline ‘a loan in less
than 48 hours”. Consequently, they were able to attract dissatisfied customers
from the bigger banks by providing them loans within a shorter period of two
days and virtually took over the market for a long period.    

 

 

 

3. What are the opportunities
for application / integration in your own working environment   of this workshop topic?

 

N/A

 

 

 

 

 

4. What did you learn from the
forum discussions (fellow students / learning coach)?

 

I learnt through my discussions with fellow
students and lecturer that although ground breaking, disruptive marketing or
innovation often takes time because incumbent players usually overlook
disruptors. This is attributable to the incumbent’s unrealistic assumption of a
major control or stake in the market and a dependence on their already existing
products which they continually enhance to attract profitable customers.

Disruptors on the other hand, tend to focus on
their business models which they continuously evolve to capture the market.
They do this by taking over a very small segment of the market: usually the
dissatisfied and low end of the market and work their way up. Doing this
gradually erodes the profitability and reduces the customers of the incumbents
as customers become more enlightened and drift into the disruptors companies.     

 

 

5. Describe any other learning
relevant to this workshop-topic.

 

There
are two types of market disruption; New market disruption whose sole aim is to
identify gaps in the market with regards to customers whose needs

have
not been met by existing companies and low end disruption which targets
customers who are not in favour of the features customers in the high end of
the market desire.

 

 

 

Workshop 2: The Changing Consumer and
Consumer Engagement

1.
What did you learn from the literature?

a. The article(s)

 

Customer engagement is the process whereby a brand
establishes an emotional connection with a customer in order to gain trust and
build a deeper relationship with them. Understanding your customer is perhaps the
most cardinal principle in marketing because it gives the business the
advantage of identifying their needs and wants. Knowing your customers’ needs
and wants allows for better product design that meets and exceeds their
expectations. Meeting and exceeding the expectation of customers by identifying
their preferable features results in better customer satisfaction and high
patronage of product and service hence higher profitability for the business.

 

 

 

b. Sections from the book(s)

 

N/A

 

 

c. Additional literature you
found yourself

 

According to (Kotler & Keller 2012,pg 150),
”Satisfaction as a person’s feelings of pleasure or disappointment that result
from comparing a products perceived performance ( or outcome) to expectations.
If the performance falls short of expectations, the customer is dissatisfied.
If it matches expectations, the customer is satisfied. If it exceeds
expectations, the customer is highly satisfied or delighted. Businesses which
pay a greater attention to customer satisfaction ultima

 

 

 

2. What are your own
experiences in relation to this topic?

 

Agricultural
Development Bank Ghana, one of the notable banks in Ghana has excellent
customer service as one of its core values which has also been entrenched into
its culture. As a result of good customer service being key to ensuring a
satisfied customer, staff are to exhibit a high sense of customer service
excellence in the discharge of their duties since customers are the most
important determinant of success to the bank. Two of the strategies the bank
has implemented in ensuring a customer centric staff are continuous training on
customer service issues and mystery shopping.

Recently,
mystery shopping is being undertaken throughout the bank to ensure quality
customer service delivery. During this process, the mystery shoppers interact
with employees to understand how they conduct themselves in the presence of
customers and the sort of customer service experience they exhibit in the
banking halls.

 

 

 

 

3. What are the opportunities
for application / integration in your own working environment   of this workshop topic?

 

Working
in the retail section of Agricultural Development Bank entails cross selling various
banking products to customers. Having an in depth understanding of a customer’s
needs and wants allows me to be able to better suggest the most appropriate
product to the benefit of the customer based on the product features. Hence, I
am going to pay keen attention to listening to and addressing complaints about
products and services of the customers. By doing so, I will understand the key
features of the products which they like or dislike in order to better serve
their needs and exceed their expectations.

 

 

 

4. What did you learn from the
forum discussions (fellow students / learning coach)?

 

During
interaction with fellow students who happened to belong to several industries
spanning manufacturing, construction, mining, banking, transport, finance etc I
discovered that overall, customers are more discerning than in the past due to
the advent of technology ,social media, internet etc. Due to this, their tastes
and preferences regarding products and services evolve from time to time making
difficult for businesses to meet and exceed their expectations. Hence, what
businesses will have to do is to continuously study customer preferences and
adapt these varying preferences to their product lines to boost patronage and
increase profitability of their products and services.

 

 

 

5. Describe any other learning
relevant to this workshop-topic.

 

A highly engaged customer is very likely to patronize
a particular product and stay loyal to a particular brand. Companies which
implement customer engagement strategies are much likely to benefit from increased
customer loyalty, increased profits, sales and improved relationship with
customers.

 

 

 

 

Workshop 3: Marketing Strategy in a
Digital World

1.
What did you learn from the literature?

a. The article(s)

 

Due to the advent of
digitalization, companies will have to redesign and reorganize their existing
marketing and sales strategies in order to offer customers the excellent
service they desire. This trend is based on two major developments; drastic increase
in customer discernment across all ages as a result of their consistent use of
media to gain more insight into current information regarding available
purchasing options and the emergence of technology which include social media
and mobile apps which have disrupted the orthodox marketing models by
disseminating information to customers efficiently, cheaply and quickly.  

 

 

b. Sections from the book(s)

 

Goals are an indicator of what
a company desires to achieve in a business and a strategy is a means of
achieving that goal(s). To be able to adapt and survive this constantly
evolving and dynamic market, a company has to develop a marketing strategy in
order to gain a competitive advantage over their peers. According to (Kotler;2012), a strategic marketing
plan lays out the target markets and the firms value proposition based on an
analysis of the best marketing opportunities.

 

c. Additional literature you
found yourself

 

One of the best ways a company
can leverage on technology and media to improve customer experience is by
employing a digital marketing strategy. With the widespread availability and
constantly evolving social digital platforms like Facebook, twitter etc which
allows for better ways for marketers to create and maintain customer
relationship, success in a business is guaranteed when businesses are able to
engage customers, identify their preferences and meet them.

 

 

 

 

2. What are your own
experiences in relation to this topic?

 

N/A

 

3. What are the opportunities
for application / integration in your own working environment   of this workshop topic?

 

N/A

 

 

4. What did you learn from the
forum discussions (fellow students / learning coach)?

 

Ø 
Companies which offer
specialized products and services can benefit immensely by targeting specific
consumers. A digital marketing strategy provides a platform for such businesses
to interact and engage with their targeted and prospective audiences in order
to be able to effectively deliver the exact products the consumer desire. This
allows for businesses to meet and exceed the expectations of the consumer.

Ø 
It provides an efficient
and cost effective way of promoting a business digitally than other
conventional methods of marketing thereby delivering results with the
involvement of very little resources.

 

5. Describe any other learning
relevant to this workshop-topic.

 

Digital
marketing increases the possibility of engaging with consumers by utilizing
internet channels to target and interact with them in real time.

 

 

 

 

Workshop 4: Branding in a Digital World

1.
What did you learn from the literature?

a. The article(s)

The internet has been used as a vehicle to build
relationships with brands and has also transformed or influenced the way
consumers view branding. Traditionally, a consumer’s relationship with a brand
ends when a purchase of a product or service is made, however, currently,
consumers are more unrestrained with their brand choice as they are more
inclined to making an informed choice from diverse brands at their disposal due
to the staggering number of digital platforms available to them.    

 

b. Sections from the book(s)

 

 

c. Additional literature you
found yourself

 

In today’s market, branding is
viewed as a bit intricate as it has transcended being merely referred to as a
symbol, image or name to being a perception that a consumer has about the
product or service or a company. In other words, todays brands should evoke a
feeling, desire, emotional attachment or passion from the consumer. In essence,
consumer behaviour can be influenced to a large extent by branding. Thus, the
decision of whether a customer purchases a product or not lies in the ability
of the brand to establish an emotional connection or
attachment with the customer.

 

2. What are your own
experiences in relation to this topic?

 

N/A

 

 

3. What are the opportunities
for application / integration in your own working environment   of this workshop topic?

 

N/A

 

 

4. What did you learn from the
forum discussions (fellow students / learning coach)?

 

Branding revolves around understanding the needs
and wants of your customers. A successful brand is one that is not only geared
towards the desires of your target customer but also relates to them.

It also gives an indication of the identity and
value of the company and what they intend to offer to the consumer.  

 

 

5. Describe any other learning
relevant to this workshop-topic.

 

I have learnt that branding helps to establish a
connection between the product or service a company desires to market and a
prospective buyer. Establishing a connection with prospective customers is
essential in the battle for customers in this highly competitive market.

 

Secondly, executing a strong brand is essential
in motivating customers to purchase your product or service which essentially
boosts revenue.

 

 

Workshop 5: Ethics and ethical marketing

1.
What did you learn from the literature?

a. The article(s)

 

Ethics are rules, values and standards which governs
individuals within an organization. Organizations develop code of ethics which
serve as a guideline for employee conduct as well as serve as a guide to the
organization in its programs and policies which impact the decision making of
the business.

 

b. Sections from the book(s)

 

An organization with high ethical standards and values
are able to improve efficiency in several work processes resulting in an
overall increase in productivity by the entire workforce.

 

c. Additional literature you
found yourself

 

Code of ethics within
organizations helps determine acceptable behaviours for employees to emulate. 

 

 

2. What are your own
experiences in relation to this topic?

 

Apart from the values of ADB bank which
employees of the bank are encouraged to emulate, the organization has developed
a Human resource and Operational manual which describes all the job ethics and
serves as a guide to all employees in the discharge of their duties.

 

3. What are the opportunities
for application / integration in your own working environment   of this workshop topic?

 

I
have learnt to comply with the ethics defined by my organization in the
discharge of my duties.

 

 

4. What did you learn from the
forum discussions (fellow students / learning coach)?

 

I learnt about the work ethics of fellow students.

 

 

 

 

5. Describe any other learning
relevant to this workshop-topic.

 

Code
of ethics provides a culture of excellence within an organization by indicating
a commitment of an organization towards ensuring ethical behaviour among
employees and provides explicit guidance to employees so that they have an idea
of the organizations expectations in terms of ethical behaviours. 

 

 

 

Workshop 6: Marketing Leadership and
Organisational Capabilities in the Digital Age

1.
What did you learn from the literature?

a. The article(s)

 

N/A

 

b. Sections from the book(s)

 

N/A

 

c. Additional literature you
found yourself

 

N/A

 

2. What are your own
experiences in relation to this topic?

 

N/A

 

3. What are the opportunities
for application / integration in your own working environment   of this workshop topic?

 

N/A

 

4. What did you learn from the
forum discussions (fellow students / learning coach)?

 

N/A

 

5. Describe any other learning
relevant to this workshop-topic.

 

N/A

 

 

 

Logbook
section 2: Workshop participation

 

1.
What did you learn during the workshop Marketing?

a. From the tutor (new
theories)?

 

Disruptive marketing often
rejects and challenges the orthodox ways of marketing by introducing a product
or service which meets the need of consumers who are dissatisfied with current
product offering.

 

 

b. From your interaction with
your fellow students?

 

I have learnt that market disruptors continuously evolve their business models
to capture the market. They do this by taking over a very small segment of the
market: usually the dissatisfied and low end of the market and work their way
up. Doing this gradually erodes the profitability and reduces the customers of
the incumbents as customers become more enlightened and drift into the
disruptors companies.

 

 

 

2. What new
possibilities for application / integration in your own working environment did
you find in relation to one (or more) workshop-topic(s)?

 

 

Since a highly engaged customer is very likely
to patronize a particular product and stay loyal to a particular brand,
businesses must endeavour to

 

 

 

3. Describe any other learning
relevant to your workshop participation

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

Logbook
section 3: ALP Researching & Writing Process

 

1. Describe your learning
experiences regarding the execution of your ALP

In this context the term
‘execution’ refers to the process of arriving at useful solutions and the
eventual acquisition of organisational acceptance of your project.

 

My
organization now understands the need to constantly update its product and
service catalogue with respect to varying customer preferences and expectations.
Additionally, it has refocused its marketing strategies into a customer centric
one. Based on that, the expectation of management is for staff to ensure
quality services to clients every time.

 

 

2. Describe your learning
experiences in relation to the content of your ALP

In other words, to what
extent did you deepen your knowledge with regards to the specific Marketing
topic taking central stage in your project?

 

Before
the inception of this study, i perceived customer satisfaction as merely
meeting the needs of customers, however, during the research, it emerged that
customers have become increasingly discerning and constantly seek better
product and service alternatives. Therefore, meeting and exceeding expectations
of a customer should be the major focus of a business. I also discovered that
customer satisfaction, loyalty and profitability are correlated; therefore
improving customer satisfaction will engender retention ultimately leading to
increased profits for the business.   

 

3. Describe any other learning
experiences relating to the researching and writing of your ALP

 

Describe
the challenges and problems that you may have experienced while researching and
writing your ALP and how you managed these challenges and problems

 

One major challenge faced was gathering information concerning the
selection option. Most of the players and experts contacted were very unwilling
to provide information regarding the processes and costs involved as most
thought it was an attempt to draw up taxes for them.

Another
challenge I encountered in the execution of my alp was the language barrier as
some respondents could only communicate in the local dialect (dagbani) and not
english which was the mode of communication of the researcher. This happened
because the researches were conducted in the Northern region where the local
dialect is dagbani.As a result of that, it was necessary to acquire the
services of a translator to ease the communication constraints. Time
constraints also had a great toll on the researcher as much time was spent in the
study area for data collection and analysis. Combining the research work with
official duties was very frustrating as well.