Importance Of Marketing Essay

Being a marketing student we should be able to know the importance of marketing in every consumer we could encounter once we have a degree and will be dealing on the corporate world. Although marketing has been misunderstood that it’s all about selling but marketing is about satisfying the needs and wants of a consumers. The marketing has been the main factor in a business, if no one knows how to advertise, promotion and in sales it will be hard for a company to be recognized in the business industry. Marketing also help to boast the economy of a country it’s encourage many business to take risk to invest in a country and it reflect to a country if it can compete to other countries by importation and exportation. In marketing it helps a

In the USA, deep advertising trends established in the cultural and economic environment of 1950. Traditional media such as radio, newspapers and magazines remained vital ads conductors during the first years of the decade, but television quickly became the cornerstone of national programs many advertisers "media. But starting from the 1950s, businesses began to see that the old ways of selling were wearing thin with customers. As competition grew tougher in most industries, organizations looked to the side of the buyer of the transaction ways to improve. What I found was an emerging philosophy suggesting that the key to marketing success is the understanding of customer needs. This most famous concept of commercial strategy proposed marketing

Marketing is in a part of everyone’s daily lives. We see it the moment we turn on the television, when we go to the grocery store, and even at our jobs. When I think about marketing, I think about all of my favorite restaurants, places to go, favorite clothing brands, and shoes. All of my favorite things come to mind when we discuss the concept of marketing. When I think about marketing, I think of all of the companies that produce my favorite things. Marketing campaigns are those people who work on making the products, finding defects and making improvements, innovating and designing. I also believe that those people are interested customer satisfaction. Those people influence me to keep buying my favorite things.

Due to stiff competition, marketing has become an essential component in the management of organizations. According to Turnbull and Paliwoda (2012) marketing revolves around the manner in which organisations communicate with consumers in the market. There are two main perspectives towards the understanding of what marketing is. From one perspective, it is the manner in which organisations communicate with their consumers regarding the existing products and also commication that is geared towards creating positive perceptions in the consumer market. Thus the approach points out that marketing is a tool used for value creation. The other perspective of marketing is more comprehensive as it encompases marketing as a tool and a process in the organization. with regards to this perspective, Challagalla, Murtha, and Jaworski (2014) define marketing as: “the process of conception planning and execution, pricing, promotion and distribution of goods, ideas and services.” This means that marketing starts from the designing and producing products and services, to when they are promoted and distributed to the consumers. Marketing strategies of enhancing sales can be implemented anywhere within the

Marketing is an integral part of any business that refers to plans and policies adopted by any individual or organization to reach out to its potential customers. A web definition defines marketing as a process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational goals. With the world shrinking at a fast pace, the boundaries between nations are melting and companies are now progressing from catering to local markets to reach out to customers in different parts of the world. Marketing is a ploy that is used to attract, satisfy and retain customers. Whether done at a local level or at the global level, the fundamental concepts of marketing remain the

According to Graeme D. and Ensor J., (2005) ‘’Marketing is essentially a simple process and success stems from the understanding of the costumers need’’. The concept of marketing could be simple but it is the implementations that is highly complex and requires a range of interdependent variables. These variables must be given focus and direction in order to achieve successful fulfillment of customer needs. Marketing is also the means to provide such direction. Additionally, the provider must understand the needs and wants of the customer. Therefore marketing offers a mechanism that facilitates understandings, communication and the development of products and services as solution to the customer needs. Finally, marketing is an interface between the

In this day and age, marketing plays a pivotal role in the business environment. Marketing is dynamic, complicated and challenging. The basic concept of marketing is to identify the need of human and society, and research how to satisfy and create those need. According to American Marketing Association (AMA), defining that marketing is the processed activity which communicate and exchange valuable offerings to customers (AMA, 2013). To be more precise, the main mission of marketing is choosing target market, creating, delivering customer value in order to develop the partnership with customer, and contribute to the organization and relevant stakeholders (Kotler & Keller, 2011). In a word, ‘marketing is to meet needs profitably’ (Kotler & Armstrong, 2011).Therefore, when it comes to launching a new product is not easy in such intensive marketing environment, it is estimated that the failure rate of new products is at 90 percent in Europe and even at 95 percent in United States resulted from high development cost, bad launch timing, poor design of product and incorrect segmentation, targeting and positioning (Kotler & Armstrong 2011). As a result, marketing is not only regarded as selling, in other word, selling is not the most vital part of the marketing process, Peter Drucker who is a prestigious founder of modern management asserted that the making selling unnecessary is the objective of marketing. The aim of marketing is to realize customer profoundly so that the product

The four P’s are essential for any company wanting to implement the marketing concept, unfortunately these tools only concern the operational side of an organisation (they identify the wants and needs of a customer and then present them as a product). If a company wants to succeed and survive in the future they must focus on marketing planning, this concept concentrates on where the company currently is both internally and externally and the best way for long term progression.

The primary objective of starting a business is to gain customers, and it is the most crucial part in the success of running a business. In order to thrive into today’s’ economy business entities across the globe use marketing as a tool for gaining new customers and retaining the existing ones (Wood, 2008). Thus, marketing remains to be the main backbone of new and existing businesses successes. Apparently, there are several basic concepts of marketing, which are commonly used by numerous marketers of goods and services. These marketing concepts comprise of the sellers, consumers, the product development, the market research, product positioning, the product image, the product concept, and the brand loyalty. These concepts combined with the marketing boundaries help in determining the consumer behaviour of the product under marketing. It is important to state that the marketing concepts dictate that the success of a firm often depends on the marketing efforts that a company employs (Wood,2008) The concepts also dictate that the successes of a company will depend with how it delivers a better value proposition compared to its competitors. Thus, it is appropriate for the stakeholders of a given business entity to understand that that effective marketing drive consumers into the company.

AMA’s website (2004) approved and defined the role of marketing as a linkage between buyers and sellers through a flow of information which is used to identify and define the marketing prospects and issues from generating, refining and evaluating marketing actions to monitoring marketing performance as well as improving the understanding of marketing as a process. Therefore, the study in marketing involves the information required to

The marketing world where we live in is changing daily, but the main, basic function on marketing is remains the same. The simplest, most accurate and understandable explanation of the marketing process that someone ever gave states that Marketing is mainly about putting “The right product, in the right place, at the right time and at the right price” (Adcock et al., 2001). It cannot just be understood as another name for the selling or advertising processes, because it is helping businesses and organisations which are working for-profit for achieving their targets by establishing a close relationship links with marketplace and providing them ability to understand customer needs and desires (Kotler and Armstrong, 2011, p.28).

When most people think of marketing, they think of selling, distributing and advertising, as we are daily swamped with sale calls, Internet pop-ups, and television commercials. Although these tactics of marketing are true, they are ineffective with no the sound basis of knowledge about the market, the environment, and most importantly having a solid understanding of how customers behave, their motivation for purchase, their awareness and their preferences. All these strategies must be

Each topic also gives the idea about what the topic is and later, it tells about how a particular tool or theory is applied to market the product to the customer. This report has various topics, which gives idea about the theory of marketing.

In recent times, Marketing has become an integral part of any business. Your business may offer the best products or services in the industry, but without continuous projection of the product to the customers, the chances of your competitors taking over your products is very high.

Marketing is a crucial activity for the survival and success of a business. Businesses today have more marketing opportunities than ever (Bresciani & Eppler, 2010). In small businesses, marketing relies heavily on word of mouth recommendations for customer acquisition.Today’s economy, distinguished by relationships, technology, and networks, favors some of the characteristics of SMEs (Walsh & Lipinski, 2009).