Importance of marketing.

Importance of marketing:

Marketing is possibly the most important activity a business can partake in. It is the one activity that most directly affects the amount of recognition and sales that a company gets and this determines the level of profitability. Basically, if you’re marketing your business well, it will make profits and if you’re not…you could be in trouble. Even the most brilliant products and services won’t survive without marketing efforts. How could a business continue if nobody knows about them?

The marketing umbrella covers many different fields, from advertising to public relations to promotions to sales. Marketing combines all of these fields in order to introduce your product or service to your potential customers. If you’re not using the channels in the best way, your potential customers won’t have any way of knowing about your product or service! Many great companies have a hard time or end up failing because their sales are dropping due to lack of marketing efforts.The good news is that marketing isn’t rocket science. Though it does take some smart ideas and thoughtful execution, marketing can be simple and incredibly cost-effective. Here are a few reasons why Marketing is important to your business.

• ·         Awareness and Recognition  
  In order for your business to succeed, you need customers to know and recognize your brand and product. Unless your business name is known and you already have connections built with all your potential buyers, it is extremely important to promote your company and build awareness. Without marketing, you won’t be able to maximize your full potential because your customers won’t be aware of you and your services. Using Marketing methods increases your chances of being utilized by prospective customers.

• ·         Increased Sales

As soon as potential customers begin to recognize your company, your chances of making a sale are increased. Your company will start to see a hike in sales if marketing campaigns are doing their job well. They also encourage new customers to spread the word about your company, causing even more word-of-mouth promotion. Keep close track of your sales during different marketing campaigns so that you can determine which ones are directly impacting sales and which ones might not be working as well.

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•   Building trust:

The more familiar consumers are with a company, the more likely they are to purchase something from you. Marketing not only increases awareness of your brand but also builds your customers trust in you. Your audience will be thrilled to hear about your successes, campaigns you are running, giveaways, and other activities because they all work together to form an image of your company as a sturdy, reliable business that they can depend upon. As this trust is nourished, your business will continue to expand and your sales will increase, too.

• Contributing to a Marketplace

A healthy marketplace operates on competition. By marketing your brand, you are outwardly competing with other businesses like yours and this is the idea of healthy competition. Consumers have more than one option to choose from and they get to pick the option that most appeals to them. You can leverage this in your favor by making sure you have the best product or service on the market and also by being clever about the way you market yourself. Make sure that your company image is friendly, trustworthy and reliable in your marketing and you will succeed in competing against other businesses on the market!