Good marketing is not a accident, but a result of careful and systematic planning and execution is also more important. Marketing management practices are continuously being refined and reformed virtually all types of industries to increase the chances of success. These articles focus on importance of marketing benefits to the marketing management.
Everything else in the business depends upon marketing
Marketing is both an ‘Art’ and a ‘Science’ as there is a constant tension between the formulated side of marketing and the creative side.
Financial success often depends on marketing ability. Hence following are the list of importance of marketing which are associated with product demand, marketing strategies and services so the company can make a profit:
1] Helps in transfer, exchange and movement of goods
2] Responding to consumers with ongoing product development
3] Creating campaigns that respond quickly to consumer preferences
4] It creates employment
5] Marketing helps in rising, and maintains the standard of living of the community
6] Acts as a source of new ideas
7] Helpful in development of company financial growth as well as economy
8] Marketing finds shortest path between the consumer and the brand
9] Marketing activities builds relationship with consumer, mediator (distributer, retailer etc.) and other organization
10] Majority activities of marketing directed towards building the brand equity of the business
11] Helps to create awareness to the consumer and customer
12] Marketing also change organizational and individual buying behavior
13] Tackles the competition and competitors strategies
Above points indicates importance of marketing and also used to decide and formulate marketing strategies. Every marketers and marketing environment stakeholders have to rethink their business model to confronted newly empowered customers, consumers and organizations.
The companies at greatest risk are those that fail to carefully monitor their consumers and competitors and continuously improve their values offering as marketing.