
Marketing seminar was organized by the fourth year business administration students of section B with the theme of “Uniting Minds with Excellent Ideas results in unwonted Innovation”. The objectives of the seminar are to unite the minds of young marketers and to acquire new knowledge regarding marketing world.
The guest speaker was Mr. Joseph Ivan Mordeno and he talked about the Multi-level Marketing (MLM) but he first discussed about having a job or having a business. He gave his own meaning of JOB which is “Just Obey the Boss” he said this is the most common but often most limiting way to make money. When you work for someone they decide your role, time, employment, and value. He said in business, you become your own boss because running a business the most exciting, flexible and rewarding. The key benefits in business are leveraging efforts of other people, accomplishing more, and earning more and for the business owners other people’s efforts and personal potential are the key benefits.
Mr. Joseph Ivan Mordeno also discussed about the home business industry. He said any business within that industry can be operated right at your home because home business can either be part time or full time and it can also give the owner a spare time. In home business you’re the boss, it has greater flexibility, it can eliminate drawbacks, it has tremendous potential and less time on investment.
Those are the sub-topics of the guest speaker in is speech. His main topic was about the Multi-level Marketing also known as Referral Marketing or Direct Marketing. As of what I have research about MLM it is a marketing strategy in which the sales force is compensated not only for sales they generate, but also for the sales of the other salespeople that they recruit. This recruited sales force is referred to as the participant’s “downline”, and can provide multiple levels of compensation but Mr. Mordeno gave a more simple description about MLM he said it is the multiple levels of people that are marketing a product to consumers in a traditional company. In a non-MLM company, a sales manager and sales representatives are hired by the company while an MLM company starts by sponsoring one person. These people are called Independent Business Owners (IBO). The MLM company only pays commission/incentives and not salaries.
The kind of products that are sold mostly in MLM are products that should have an authentic presence other than MLM system and it should also not be over for repurchase. Manufacturer of the products of MLM should have good reputation. Health products are also sold in MLM.
The MLM’s compensation plan are Unilevel Plan, Matrix Plan, Stairstep Plan, and Binary Plan.
Amway and Lifestyles are example of companies that using MLM.
Network marketing is word of mouth advertising because it is recommending something. It allows the business owners increase their income through the law of leverage and it simply means multiplying your time and effort by helping other people achieve their dreams.
There are 4 network systems in MLM and these are Buy & Use product, Learn the business, endorse or sell and invite & sponsor. In networking, it doesn’t matter what is your background because anybody can do networking marketing.
Networking marketing is set up independently. Non-salaried people of multi-level marketing is referred to as distributors, associates, independent business owners, dealers or franchisers. Distributors can also earn profit by retailing the products.
The intellectual ways of distributing of products are motivating, educating, training, supporting, using sales techniques look for prospect, attending business meeting or seminar, convince prospect for the business profits and joining because in MLM there are many rewards that can be received just by distributing the product.
On the last part of our guest speaker’s speech he gave us a very inspiring advice which is the meaning of SUCCESS.
S-et your goal
U-nderstood the obstacles
C-reate a positive mental picture
C-lean your mind of self soubts
E-mbrace the challenges
S-tay on track
S-how the world you can do it
We have learned a lot in Mr. Mordeno’s speeh during the seminar but aside from what he have lectured us, we have also learned on how to organize a seminar and how to be a united group of students in making the said event possible. We have gone through a lot while organizing the event but in the end we still have managed to make it pass. Though we had mistaken, we have also learned from those mistakes which we will make sure that will never going to happen in the near future. It was also a great opportunity to have this seminar because of the things we have learned not just about retailing but also about ourselves as a student and a future marketers.