By Kofi Ahovi
Stakeholders have challenged marketers in the country to aspire for higher positions particularly in financial institutions.
According to them it was high time that marketers secured positions among board of directors to champion the interest of the profession.
Speaking at a two-day annual strategic marketing conference of the Chartered Institute of Marketing, Ghana (CIMG), both the managing directors of HFC Bank, Asare Akuffo and Stanbic Bank, Alhassan Andani argued for the presence of marketers at the highest decision making body of institutions.
According to Andani, the presence of a sub committee on marketing at Stanbic Bank has contributed immensely to the bank’s success and prays that other institutions do same.
Akuffo lamented how some marketers declined to sit on the board of HFC when the need arouse.
The conference which was held in Accra last week on the theme “The Global Economic Downturn-A case for Marketing Metrics” brought together professional marketers and marketing students to deliberate on issues relating to the global financial crisis.
The MD of Stanbic Bank, Alhassan Andani speaking on the topic ‘Marketing metrics, what are they? advised the participant to always use the appropriate marketing metrics to suit their markets in order to avoid bad decisions by management.
He said appropriate metrics would ensure high level directions and guidance, tighter discipline and improve the credibility of an institution.
“The discipline of using metrics is a good development but most tend to stay with simple metrics such as return on investment (ROI),” he noted.
“The right marketing metric can improve input on key initiatives,” he advised.
Asare Akuffo speaking on the topic ‘Defining markets and resources’ encouraged the participants to always segment their markets to ensure customer satisfaction.
“Segmentation therefore allows the firm to better satisfy the needs of its potential customers by focusing on their peculiar needs and preferences,” he stressed.
He explained that it will also enable a firm to focus resources on its target market to avoid ‘wasteful’ spending on the mass market which might not yield the required results.
“The available resources of the firm are usually limited and therefore to optimise resources, the firm must focus on target marketing as against mass marketing,” Akuffo stated.
Other topics treated include life in the global republic by Ekewunife Okoli, MD of Guinness Ghana Breweries Liminted (GGBL), Buy an umbrella or change the weather by Martyns Mensah, MD of Kasapreko and the Social connection by Ken Ofori Atta, Executive Director Databank Group.
Stakeholders have challenged marketers in the country to aspire for higher positions particularly in financial institutions.
According to them it was high time that marketers secured positions among board of directors to champion the interest of the profession.
Speaking at a two-day annual strategic marketing conference of the Chartered Institute of Marketing, Ghana (CIMG), both the managing directors of HFC Bank, Asare Akuffo and Stanbic Bank, Alhassan Andani argued for the presence of marketers at the highest decision making body of institutions.
According to Andani, the presence of a sub committee on marketing at Stanbic Bank has contributed immensely to the bank’s success and prays that other institutions do same.
Akuffo lamented how some marketers declined to sit on the board of HFC when the need arouse.
The conference which was held in Accra last week on the theme “The Global Economic Downturn-A case for Marketing Metrics” brought together professional marketers and marketing students to deliberate on issues relating to the global financial crisis.
The MD of Stanbic Bank, Alhassan Andani speaking on the topic ‘Marketing metrics, what are they? advised the participant to always use the appropriate marketing metrics to suit their markets in order to avoid bad decisions by management.
He said appropriate metrics would ensure high level directions and guidance, tighter discipline and improve the credibility of an institution.
“The discipline of using metrics is a good development but most tend to stay with simple metrics such as return on investment (ROI),” he noted.
“The right marketing metric can improve input on key initiatives,” he advised.
Asare Akuffo speaking on the topic ‘Defining markets and resources’ encouraged the participants to always segment their markets to ensure customer satisfaction.
“Segmentation therefore allows the firm to better satisfy the needs of its potential customers by focusing on their peculiar needs and preferences,” he stressed.
He explained that it will also enable a firm to focus resources on its target market to avoid ‘wasteful’ spending on the mass market which might not yield the required results.
“The available resources of the firm are usually limited and therefore to optimise resources, the firm must focus on target marketing as against mass marketing,” Akuffo stated.
Other topics treated include life in the global republic by Ekewunife Okoli, MD of Guinness Ghana Breweries Liminted (GGBL), Buy an umbrella or change the weather by Martyns Mensah, MD of Kasapreko and the Social connection by Ken Ofori Atta, Executive Director Databank Group.
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