Doing business depends a lot on marketing. Anybody can make a product but for the product to be successful, you need good marketing. So what is marketing? If you are a business student you must have heard the question of what’s the difference between sales and marketing. What answers could you come up with?
Well, in short, marketing is the beginning and end of any product or service. For example; if you want to sell something first you will identify the need, if there isn’t one then marketing creates one. It is also knowing about the target market, the competition, substitutes, and the expected price of the good. All these functions come under marketing. So marketing is an essential element of any business and without marketing, the business can’t exist. However, if you are a business or marketing graduate and struggling with your online courses then you can ask us for Online Course Help and we will be there to serve you.
How Important is Marketing for business?
Marketing creates, directs, and guides businesses. It is the anchor of the business because marketing creates the playing field for the business. What to sell where to sell and whom to sell and how to sell are the basic responsibilities in marketing. Let’s see how important is marketing in a business.
Product awareness is the first step for the business before, during, or even after the introduction of its products in the market. Marketing aims to grow the customers and reach the target market and build potential prospects. They help create awareness among people by placing the product or the advertisements in the right places. Marketing makes sure they are using all the channels such as brick and mortar, online advertisement and conventional advertisement, etc. to reach the consumers.
Keeping Relations with Customers
Selling a product to a person for the 1st time is good, but making a loyal customer who comes back to you is essential for a success of a business. Marketing reaches out to the clients through emails, and personal visits, calls, by listening to their pleas and demands and making things right. Marketing connects the company and the customers. Giving importance to the customer, taking feedback, and reaching out through calls and personalized emails are what make the chance of the business successful.
Marketing helps increase sales by continuously promoting the product through advertisements. For example, despite having a strong brand, coco cola spends millions of dollars on its advertisement. The potential prospects are reached by the marketing teams through advertisement and now with Google Analytics. They then share the information with the production team. There is nothing that can be done without marketing. Where to sell, whom to sell, and when is the right time to sell is all determined by marketing. Marketing follows up with the clients and takes feedback. They monitor the aftersales strategies and make sure that consumers are satisfied. Their goal is to keep their customers and to make sure that their company remains a thing of value for them.
Marketing Aids Product Development Team
Marketing is not only promoting and selling a product but also includes market research and product development. The marketing teams provide the marketing information necessary for the product team. Like what kind of product the customers would like, what are the tastes, preferences, choices, and buying power of the clients? A product must adhere to all these requirements or else it could be a failure. They are responsible for:
- They research the competitiveness
- Explain buyer preferences and choices
- Coordinate plan for launching the product
- Create positioning
Marketing Grows Business
Marketing helps grow businesses. Marketers are always looking around for options to expand their business and spread awareness to many people. They always make efforts to keep the current customers and bring more of them. They always try not only to increase revenue but also to increase the revenue options by looking for potential demand for a non-existing or different product. There are so many potential options for the business to leverage which is made possible by the marketing team. They always look out for better products and effective ways to deliver them to their customers.
Create Trust and Build Reputation
Marketing creates trust and maintains the brand’s reputation. Marketing people are responsible for taking care of the choices and demands of the consumers. They know without them the business will flop. They work so hard to keep the client base. Like every business, they have its mantra that the customer is always right. They connect with the customer and do personalized emails and calls. If the potential clients are traders they meet them and make the necessary changes as per their wishes.
Bring Positive Change
The goal of the business might be to earn money and increase production. However, it is not wrong to say that marketers play their part in conveying their brand’s message to consumers. For example; less use of plastic etc. Marketing also plays its part in bringing positive change by guiding its customers on how efficiently they can use their product and how they should discard it. They have all the necessary resources to convey their goodwill message. Marketing work for a cause to bring social change such as giving back to society by building schools etc.
Most people start businesses and come up with great business ideas and still couldn’t make it. Because they underestimate the need for proper marketing. You want to make a good product but why should I buy from you? How can I trust you and do you give me any advantage if I buy from you? All these communications are cleared by the marketing team. Marketing is for the business as blood is for the body Important. Every department benefits from marketing. Bad marketing can cause a lot of trouble for the business. Similarly, if you are a student of marketing or planning to study marketing then you can ask for Online Exam Help. We will provide you the expert help for your courses.
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