Entrepreneurs and professionals today spend so much time, effort and money in improving their products and services. Businessmen spend hours and hours in addition to thousands of dollars in enhancing their goods and crafts and honing their skills. In the long run, they forget one significant aspect of business ~ marketing! Some lose sight of why marketing is important.
To start, marketing basically refers to the entire management process of making products and services readily available to customers in a satisfactory manner. The end in mind of this activity is income or profits. Simply put, marketing is everything that an individual does to place his goods and services in the hands of his customers.
From the definition, it is crystal clear why marketing is important. Without it, potential clients would not be aware of the existence of a particular commodity or service. Marketing provides the perfect avenue for consumers to know and enjoy these manufactured articles and services. No matter how useful a product or service may be, if people do not know about it, the wares and merchandise will remain on shelves and just gather dust. People will never buy the goods. Companies and firms will not be able to earn income and generate revenue.
After the general public becomes mindful of the commodity, there is a greater chance that they will buy the same. It cannot be overemphasized just how much marketing can make a business grow exponentially. At this point, new consumers and loyal ones start spreading the word about how satisfied they are with their purchases. They share their new discoveries to their family and friends. As a consequence, sales will continue to increase steadily. Without marketing, these transactions would not have happened. Without the exchange, companies will ultimately close down.
Marketing leads to product recall and brand recognition. When an organization’s article or service exceeds the expectations of the community, it builds up the image that the company is of good repute. It differentiates the establishment and giving them the advantage of having a unique selling point. This is particularly true in very competitive and oversaturated industries such as clothes and sportswear. Getting a product noticed is definitely not an easy task.
The benefits are not just limited to the company. From a consumer’s point of view, marketing aids him/her to make better choices because he/she is well-equipped with information about the products and the prices. Potential purchasers have data to support their decisions on why they buy brand A instead of brand B. This leads and fosters an atmosphere of healthy competition in the economy. No dominant company can monopolize an industry because of marketing!
When you finish this article, I want you to leave with one major point: Marketing plays an extremely crucial role in a company’s success! And this is why marketing is important! If you have specific questions on the importance of marketing or how it relates with your business, contact us today and we can help you get your foot in the best direction for your goals and business needs!