Importance Of Marketing
More often than not a business may ask itself what is the importance of marketing with regards to the success of business and it is the core of the business especially those that are out to make profits. In this talk we are going to look at the advantages of marketing which usually comprises of advertising, organizing brand awareness and many more activities that are all aiming at moving the product.
There are a lot of advantages but before that let us have a look on some of the marketing mix before one can venture into marketing as a whole. The commodity is one of the things that come into play as the company should be able to know the suitability of their product to the consumer.
The asking figure of a given commodity and you should be able to factor in all the costs incurred and also be able to range with others in the market. The other type I of marketing combination is publicizing which involves giving out samples, organizing campaigns just to mention but a few. The position is really crucial and as we know about mapping the area out as to get to have an idea of the potential clients. Sometimes a commodity may not make the much anticipated sales as we have perceived that is why it is important to have the location in your mind.
One of the importance is that it is able to be a source of livelihood for the citizens as they get to make a living. The value is that it is able to generate income in terms of the volume of items sold.
The advertising of a product is that it is able to create a view point as the market is dynamic and the organization is able to find new ways of penetrating in the market. Another benefit is that it is able to create healthy competition as we know a firm cannot exist on its own and it is upon the marketing department to find new ways of reaching clients and find out what their competitors are doing and not doing and this way they will be able to compete. Marketing acts a basis of making decision as the company is able to determine the consumer pattern and through this they are able to create a new product for this rising need or even improve.
The positive side is that the company is that it is able to build prominence as through the various aspects of marketing it is able to create a niche for itself . In the end it is good to hold marketing in high regards as without it the business will not thrive.
Importance Of Marketing