Experts: 10 Mistakes that Most People Make

Importance of Marketing

Marketing is the foundation of a lot of important fresh ideas in the organization thought and practice like flexibility in manufacturing systems, flat organizational structure and an increased emphasis on service, all of which are done to make the businesses more responsive to the needs and preferences of consumers. This implies that small businesses must also learn the basics of marketing for them to succeed.
Marketers heavily rely on marketing to spread the awareness about the products of a business as wells as increasing sales and growth of profits. The purpose of marketing is to trigger a desire among the general public to buy products through effective strategic marketing techniques which include integrated marketing communication. The more the public see and hear about the product, the more interested they would be to buy.

The reason for marketing in any business is creating brand equity via brand’s name, images, logo or caption that the consumers hear and see in advertisements. With an established name it is easier for business to develop and expand. Companies also create reputation buy innovating products which is possible due to the funds gotten from sales.

Vendors are able to satisfy more clients through computer and information technology across the universe than ever before. Businesses do recognize the role of websites, blog and other platforms in the internet which facilitate marketing exchange. Now a buyer can easily get a product on online platforms, compare the same product from different sellers and find the best value

As much as marketing is primarily focused on promoting product awareness by the market, consumers also take benefit. Consumers do not recognize the importance of a product like phones laptops, until marketing is done to promote awareness, which can be used to improve the quality of life. Marketers help in spreading of awareness about a useful product, where customers the desire to get them which in turn improves quality of life.

Marketing is usually a complicated process which requires people with different roles so as to be effective. Selling, buying, financing, transport, risk bearing and standardization are among the major marketing purposes. Different activities are done in each one by huge number of people and bodies. Thus marketing creates jobs for many people. Studies show that about 40 percent of the entire population depend on marketing directly or indirectly.

Not only does marketing sets the economy running, but also offers steady and stable economic conditions. It fills the gap between the producers and consumers.

Moreover, there is nothing that determines the success and financial success of any business like the marketing ability. Financial operations, accounting and other business utilities can’t be effective if there is no sufficient demand for goods and services.
The public have no choice if there is no marketing. Through marketing, many new products and in different variations are made available to the people. This is important as consumers are given freedom to purchase a product they desire without feeling like they are forced due to lack of an alternative.

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