CORPORATE GOVERNANCE
MARKETING AND
CORPORATE
GOVERNANCE
ISSUES
By Felix Owaga Okatch
B
oth marketing and corporate
governance are concerned
with customers and more
specifically target markets including
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 products
of value with others. This means
that ma rketing and all its related
peripherals is business.
Corporate governance on the other
hand refers to a framework of rules
and practices by which a board of
directors ensures accountability,
fairness and transparency in company
relationship with its stakeholders
which includes customers, financiers,
employees, government and the
community.
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.
Business of whatever nature has a
customer and market. The business
of hospitals, restaurants, transport,
telecoms among others have target
markets. The choice of target market
is very important in marketing. The
same applies to corporate strategy
and corporate governance.
As we mention target market for
marketing and corporate governance,
one example of a great Jewish leader
‘‘ 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 products of
value with others. This means that marketing and
all its related peripherals is business.’’
80 MAL 17/17 ISSUE
called Jesus Christ, the son of Joseph
and Mary cannot be overlooked.
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.
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, so
care must be taken to develop a good
message by an ad agency. In doing
so subject to good research results,
an organization has an option to use
multiple channels.