CORPORATE GOVERNANCE
MARKETING AND
CORPORATE
GOVERNANCE ISSUES
By Felix Owaga Okatch
B
oth marketing and corporate
governance are concerned
with customers and more
specifically that target market
includes stakeholders. Their focus is
increased sales and profitability from
their respective target markets who
are in a sense their customers.
By definition, marketing is a social
and managerial process by which
individuals and groups obtain
what they need and want through
creating, offering and exchanging of
product of value with others. This
means that marketing and all its
related peripherals is business.
Corporate governance on the other
hand refers to a frame work of rules
and practices by which a board of
directors ensures accountability,
fairness and transparency in
company relationship with it
stakeholders which includes
customers, financiers, employees,
government and the community.
As we mention target market for
marketing and corporate governance,
one example of a great Jewish leader
called Jesus Christ son of Joseph and
Mary cannot be overlooked.
When a company develops a
strategy in a chosen market, it
is putting in place managerial
structures and departments to get
business from the target market.
Jesus Christ of Nazareth was a good
marketer and manager in corporate
governance of his time. He said that
his target market were the poor and
sinners. He performed miracles and
saved the sick and poor.
The business of whatever nature
has a customer and a market. The
business of hospitals, restaurants,
transport, telecoms etc do all
have target markets. The choice
of target market is very important
in marketing. The same applies to
corporate strategy and corporate
governance.
‘‘By definition, marketing is a social and
managerial process by which individuals
and groups obtain what they need and want
through creating, offering and exchanging of
product of value with others. This means that
marketing and all its related peripherals is
business.’’
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On corporate governance, he taught
in parables and used distribution
and personal relations to appoint
his twelve disciples to market and
distribute his teachings in his
environment and beyond. In doing
so he achieved his business mission
and vision.
In modern marketing therefore a
business needs managerial tools
to get to the target market. The
use of advertising and many other
marketing tools are now prevalent.
Advertising so far is any paid form
of non-personal presentation and
promotion of ideas, goods and
services by an identified sponsor.
Advertising is generally expensive
and care must therefore be taken
to develop a good message by