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Importance of marketing?
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Importance of marketing?
1. It enables the marketer to know the tastes and preferences of the customers and accordingly make the product. As a result they are able to sell their easily.
2) It fulfils the needs of the buyers by giving them what they want. The buyers get their money's worth.
3) Innovations in marketing have given the buyer superior goods at affordable prices.
4) Marketing, today, has developed to such an extent that buyer are able get international brands of goods at their doorstep.
5) In the past, the buyer had to buy what was available. The growth of marketing has now given the buyers very many alternatives. The buyers are now in a position to select the best from among the many alternatives.
6) It has eliminated out dated or obsolete products over the years. It has updated the technology in tune with the needs
7) It helps the marketers in the matter of selection of the right promotional tool.
8) It also guides the manufacturers in selecting the correct channel of distribution for their products. 9) Marketing provides employment opportunities to many. There are brokers. commission, agents, truck operators, salesmen, copywriters and others who are engaged in the field of marketing.
10) Marketing has certainly converted yesterday's luxuries into today's necessaries'. Goods that were once considered a beyond the reach of the common man are now common household items
2) It fulfils the needs of the buyers by giving them what they want. The buyers get their money's worth.
3) Innovations in marketing have given the buyer superior goods at affordable prices.
4) Marketing, today, has developed to such an extent that buyer are able get international brands of goods at their doorstep.
5) In the past, the buyer had to buy what was available. The growth of marketing has now given the buyers very many alternatives. The buyers are now in a position to select the best from among the many alternatives.
6) It has eliminated out dated or obsolete products over the years. It has updated the technology in tune with the needs
7) It helps the marketers in the matter of selection of the right promotional tool.
8) It also guides the manufacturers in selecting the correct channel of distribution for their products. 9) Marketing provides employment opportunities to many. There are brokers. commission, agents, truck operators, salesmen, copywriters and others who are engaged in the field of marketing.
10) Marketing has certainly converted yesterday's luxuries into today's necessaries'. Goods that were once considered a beyond the reach of the common man are now common household items
Community Answer
Importance of marketing?
Introduction:
Marketing plays a crucial role in the success of any business. It involves various activities aimed at promoting, selling, and distributing products or services to customers. In this era of cut-throat competition, effective marketing strategies are essential for businesses to gain a competitive edge. Let's delve into the importance of marketing in detail.
1. Creating Awareness:
Marketing helps in creating awareness about a product or service among potential customers. Through various marketing channels such as advertising, social media, and public relations, businesses can reach a wide audience and generate interest in their offerings.
2. Increasing Sales:
The ultimate goal of marketing is to drive sales. Through targeted marketing campaigns, businesses can attract potential customers, generate leads, and convert them into paying customers. Marketing strategies such as discounts, promotions, and personalized offers help entice customers to make a purchase.
3. Building Brand Image:
Marketing plays a vital role in building and maintaining a brand's image. It helps businesses establish a distinct identity in the market and differentiate themselves from competitors. Effective branding strategies create a positive perception among customers, which leads to brand loyalty and repeat business.
4. Understanding Customer Needs:
Marketing research enables businesses to understand customer needs, preferences, and market trends. This information helps in developing products or services that align with customer expectations. By analyzing customer behavior and feedback, businesses can make informed decisions to enhance their offerings and improve customer satisfaction.
5. Expanding Market Reach:
Through marketing, businesses can expand their market reach by targeting new customer segments or entering new geographical areas. By identifying untapped markets and devising appropriate marketing strategies, businesses can increase their customer base and revenue.
6. Building Customer Relationships:
Marketing plays a crucial role in building and nurturing customer relationships. Effective marketing strategies such as personalized communication, loyalty programs, and customer support help in creating a strong bond with customers. Satisfied customers not only become loyal to the brand but also act as brand advocates, spreading positive word-of-mouth.
Conclusion:
In today's competitive business landscape, marketing plays a pivotal role in the success of any organization. It helps businesses create awareness, increase sales, build brand image, understand customer needs, expand market reach, and build strong customer relationships. By investing in strategic marketing efforts, businesses can stay ahead of the competition and achieve long-term growth and profitability.
Marketing plays a crucial role in the success of any business. It involves various activities aimed at promoting, selling, and distributing products or services to customers. In this era of cut-throat competition, effective marketing strategies are essential for businesses to gain a competitive edge. Let's delve into the importance of marketing in detail.
1. Creating Awareness:
Marketing helps in creating awareness about a product or service among potential customers. Through various marketing channels such as advertising, social media, and public relations, businesses can reach a wide audience and generate interest in their offerings.
2. Increasing Sales:
The ultimate goal of marketing is to drive sales. Through targeted marketing campaigns, businesses can attract potential customers, generate leads, and convert them into paying customers. Marketing strategies such as discounts, promotions, and personalized offers help entice customers to make a purchase.
3. Building Brand Image:
Marketing plays a vital role in building and maintaining a brand's image. It helps businesses establish a distinct identity in the market and differentiate themselves from competitors. Effective branding strategies create a positive perception among customers, which leads to brand loyalty and repeat business.
4. Understanding Customer Needs:
Marketing research enables businesses to understand customer needs, preferences, and market trends. This information helps in developing products or services that align with customer expectations. By analyzing customer behavior and feedback, businesses can make informed decisions to enhance their offerings and improve customer satisfaction.
5. Expanding Market Reach:
Through marketing, businesses can expand their market reach by targeting new customer segments or entering new geographical areas. By identifying untapped markets and devising appropriate marketing strategies, businesses can increase their customer base and revenue.
6. Building Customer Relationships:
Marketing plays a crucial role in building and nurturing customer relationships. Effective marketing strategies such as personalized communication, loyalty programs, and customer support help in creating a strong bond with customers. Satisfied customers not only become loyal to the brand but also act as brand advocates, spreading positive word-of-mouth.
Conclusion:
In today's competitive business landscape, marketing plays a pivotal role in the success of any organization. It helps businesses create awareness, increase sales, build brand image, understand customer needs, expand market reach, and build strong customer relationships. By investing in strategic marketing efforts, businesses can stay ahead of the competition and achieve long-term growth and profitability.
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Importance of marketing?
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Importance of marketing? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Importance of marketing? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Importance of marketing?.
Importance of marketing? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Importance of marketing? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Importance of marketing?.
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