WHY IS MARKETING IMPORTANT TO A BUSINESS?
Table of content
- General idea of marketing
- Marketing in business
- Reasons why marketing is important to a business
- Skills a marketer should have
General idea of marketing
Marketing does not only apply in business. There are a lot of disciplines where marketing has helped communicate a message. Political parties for instance, market their campaign message to the public. This is a word of mouth type of marketing.
Another example is street hawkers. They yell out their goods as they carry along their wares. This type of marketing is mostly in the developing countries. A kid selling candy or lemonade picks a neat line of words to yell at passersby. They communicate their products clearly and effectively “sweet lemonade over here”.
Marketing has been with humans ever since there was a product to sell. Businesses who enjoy monopoly even market their wares still. The government has a minister for public relations. His job is to communicate an idea to the public. Now that is marketing.
In a nutshell. Marketing is communicating an idea to possible customers. The idea may be religion, a service, product like a movie or food, a way of thinking, a civil rights campaign, an election campaign and a whole lot more. Business marketing is our point of interest.
Marketing in business
Marketing is a business development activity to sell a product or service idea. It is the most important aspect of business. Marketing informs the consumer of the offerings of the company. It establishes company integrity. An idea is enforced and gradually enshrined and in the marketplace.
Superheroes for instance thrive on marketing. The public love and cherish superhero stories. They are fictional characters however, but their significance in the movie industry cannot be overlooked. Superman, a character created by DC is one of the most famous and iconic persons in pop culture. That is marketing done well. And superman souvenirs like toys, shirts and comic books will sell because the public knows the character.
Marketers can do so well a job that an idea is enshrined in the minds of people. The idea of owning a car and its importance was marketed. Now it is part of everyone’s life achievement goals. That idea is enshrined with us and it is not going anywhere soon.
The very essence and need of marketing your product is an essential part of your business. It is the lifeline of every business. Here are some of the reasons why marketing is important.
Reasons why marketing is important to a business
Marketing informs customers
A marketer is an advertiser. By advertising an idea, the customers are informed about the company and its product and services. The customer can then judge if they will decide to patronize your offer. Communicating the enterprise idea is the only sure way to inform the public. Company names are particularly chosen because of the product or service they offer. Immediately anyone hears the name, then the person gets an idea of what the company is about.
An example is FOX entertainment. A lot of people after hearing this name will start thinking entertainment. People will hardly thick of food products after hearing such a name. They are all marketing brands. Another instance is creating a brand name for a fashion line of clothing. For instance,Gucci or Versace is a well trusted brand. Their products are highly priced and respected. By this, it has informed the consumer of what the company is about.
A marketer communicates a business idea through TV commercials, conferences, the print media, the digital media like emails and social media, etc.
Marketing relates with consumers
A lot of businesses will want to keep their customer base while acquiring new ones. With this, the company has to have a long lasting relationship with their existing consumers. By having such a relationship, the enterprise is able to gather data from the buyers on how their product or service behaves. Like how satisfied their customers are, how to improve their product, and even how to acquire new customers.
An example of keeping customer relations is through email alerts. There are periodic surveys, periodic product upgrades, warranties, customer call or chat services and a whole lot more. There are several ways to keep in touch with customers. On the other hand, customers want to be part of a family too. They will want to be part of a better quality product or service customer base.
Marketing promotes company integrity
Apple’s company campaign was innovation above all else. And by keeping to their word, they have been able to pull in an enormous consumer base for their products all over the world. It is even a prestige to own one of their products relative to other products on the market. The integrity of the company is now enshrined with consumers. They are the market standard of an innovative piece of phone technology.
There are a lot of phones with more functionality than the iPhone however, because of their integrity, it is unlikely they will go out of business soon. A marketer saw this dream and pursued it. The role of marketing in business is very important.
Another instance is Sony. The company has a lot of products on the market, but because they marketed well enough, their ps4 product, it is one of the most purchased product worldwide. Any piece of technology can be marketed to become a market leader. However, if that tech does what it does well, the consumers come to trust in it.
If a product is marketed in the wrong way, it can acquire a bad reputation. So much that it can crush the company. If it should done, it should be done right. Business development groups like The Diamond Lab Academy can help your business achieve its goal.
Marketing sells
Sails is different from marketing. After the idea of the product or service is sold, it is the job of the sails team to actually sell the merchandise. Thus, the sails team packages the merchandise and delivers accordingly. They handle the transaction and price allocation depending on the demand and advice from various aspects of the business.
If the enterprise sells a lot of the goods, the company grows. There is another way of looking at this. Some companies sell few products and mark the product price at a very high value. An example is the production of limited edition and highly priced cars like Bugatti or Rose Royce. They have few buyers, but their profit margin is huge.
Some products are cheaper, yet the customer base is big. The safety pin is product that is relatively cheaper. It is however found in every corner of the world. Marketing makes this possible. You can join a network of business owners to learn more on selling products. Visit The Diamond Lab Preferred partner network.
Marketing helps company to stay competitive
Competition in business can be very tough. Other competitors on the job market will always be advertising. They go the extra mile of delegating their marketing to a separate management team. In effect, they will be able to outpace the competition and stay in business.
It is imperative that your marketers are pros. You do not want an inexperienced person handling your marketing industry. Always talk to the professionals to have it done well. It is being able to stay ahead of the crowd that will ensure your company growth. Without marketing, there is no company.
Marketing maintains company message in the market
People easily forget things. At least majority of people do. It is therefore the responsibility of the marketer to maintain the campaign message of the company. Home appliances can have emboldened logos. Some logos glow in the dark, some make specific sounds when triggered. In effect, the campaign of the company message is always present.
Other competitors will capitalize on this to promote their goods if this is not done right. You would not want to risk people forgetting your product. That can crush your company therefore, resources should always be in place to continue marketing.
Other examples of marketing by which enterprises stay relevant is through emails, websites, print media, business activities like conferences, fun fares, etc. Being in the news headlines even can promote the company’s message. Music artist usually stay relevant by staying in the news. It could be their normal livelihood endeavors like relationships, even law suits, and weird stories at times.
Always staying in the minds of people on the market can persuade consumers from other competitors to buy from you.
Marketing informs your business too
Marketers can garner a lot of information on the market and they will in turn inform the company management on company plans and policies. By relating with customers, marketers can siphon in a lot of customer needs and possible product upgrades. In effect, the board of directors will count on the marketers before taking any major decision. If the complaints of the consumer are not heeded, within reason, their satisfaction will be compromised and that sends a bad message on the market.
So why is marketing important to a business? It is important because the marketer is the bridge between company and consumer. There is no company without customers and customers always come first. The marketer knows exactly what the customer wants.
It is therefore absolutely necessary for the marketer to be a pro.
Skills a Marketer should have
A marketer should be innovative
One thing about marketers is how creative they can be. Smart marketing is the order of the day. Google does this by advertising ads to the right kind of buyers. If you search more on tomato products, the ads likely to pop up in your in-app usages will be about tomato sauce.
A marketer without technology at his disposal can employ various means to communicate. A street hawker most often yells his wares to passersby to get their attention.The street hawker can carry their goods to the houses of buyers. They pitch the idea to the customers at their homes.
Innovation is how you stay ahead of the competition. This very shows some of the key skills a marketer should have
A marketer must never stop working.
Keeping in touch with various consumers can be a big task. Staying relevant at the market scene means you have to always be working to see it through. The job of the marketer does not end. They have to always make sure the product or service stays in the mind of the consumer.
The business always grows and stays in competition when this is done. A marketer must never stop working to ensure this. A marketer is the mouthpiece of the company. If the mouthpiece is mute, the enterprise is quiet too.
A marketer must be competitive
To stay competitive means to have the will to always challenge the competition. If the seal is not there, the competition will overwhelm the company.
One way of staying competitive is through information. This means you have to always learn new ways of marketing. A marketer must also be able to decipher the right kind of information from the large chunk out there.
Furthermore, the right information must be implemented. The business ecosystem is a jungle and you do not want to be swallowed by a bigger fish. Information is the best way to keep up or stay ahead.
A marketer must be experienced.
A more suitable topic is a marketer must do a job good. When is comes to publicity, marketing gone wrong can be a real blow the company. Recovering can be difficult. Therefore, an experienced marketer can do a good job right.
With experience comes learning. It is important therefore to hire a pro. Therefore, it goes without mentioning that some people can do impressive jobs even if they are not experienced. It comes down to getting the job done. The marketing has to be well for the benefit of the company.
A marketer must be a team player.
A marketer must be able to work well with various aspects of the business. The marketer advice management on best course of action. The marketer also gives input in the product packaging,
Every aspect of the company will seek advice from marketing and being a team player ensures a thriving business environment.
In conclusion, why is a marketing important to a business? It is because marketing is the most vital aspect of the business. Without communicating what you are selling, there will be no customers. There is no company without customers either.
