Marketing Is Vital For A Small Business

In summary, marketing is very important for a business to achieve success. Many businesses have a difficult time in this area. With the stiff competition, businesses struggle to stand out among others. Other companies resort in unethical and unfair schemes just to win the competition. But eventually find themselves in great loss and failure. As businesses all over the world enter into a gigantic marketplace, every business owner is faced with convoluted market competition. Nevertheless, any entrepreneur can be different and become successful in this matter. In every product sold and in every service provided, patience and hard work should take precedence to ensure quality. Products and services should be marketed honestly, planning should not be done with evil

Marketing has become more and more important, especially as the purposes of marketing expanded into performing marketing researches. Through marketing researches, it is asserted that marketing starts with a real customer need. Classic marketing, has, nonetheless, focused on making the need that will draw customers, and this stresses the advertising power of marketing (Woodall 2007, p.1284). This is also called the sales concept of marketing (Woodall 2007, p.1285). An example is how advertising lures people into buying a brand, because of the

Marketing is one of the most important aspects of a business. According to Peter Drucker “There will always, one can assume, be need for some selling. But the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customers so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed then is to make the product or service available.” (Peter Drucker, Marketing Management, Philip Kotler).

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).

Various people would think marketing would not be key within businesses, however, businesses require customers so that revenue can be generated and they can branch out to different countries. TV advertisements along with commercials and posters are used by companies so customers can see what they are offering. In addition, countless hours are put into finding target audiences and board meetings where concepts can be formed and distinguished. Marketing has shown to be a key factor in businesses but does not compare with the supremacy that human resources and finance embrace in the organisation.

The American Marketing Association defines marketing as - It is the activity includes set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large which adds to profits ( kotler & keller, 2012). Marketing Management means the analysis, planning, implementation and control of plans or programs designed to create, build and maintain beneficial exchange with target consumers for the purpose of achieving organisational objectives. The objectives of marketing management are to create demand through different means by providing information about the utility of product, customer satisfaction, to increase market share and profit, to create goodwill and public image. Today’s marketers are focusing to maintain reputation in the eyes of their customers. The term of marketing changes as the marketing environment changes. Now, marketing functions are not limited. Customers are smarter and more

Marketing is a business process that is central to the business performance as it addresses the largest aspect of the company’s competitive advantage in the market place. Business needs to anticipate consumer behaviour through market research and meetings the needs and wants of the consumer. The success of marketing depends on the 7P’s of marketing: Product, Price, Place, People, Process and Physical evidence.

Marketing plays the most important role for the success of a business. In this chapter, the business’ marketing objectives are laid out together with the plans or actions that will be needed to achieve these objectives. Furthermore, this chapter includes the profile of the respondents which aided the researchers to create this part of the feasibility study.

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

Have you ever wondered what was the reason you decided to buy your first car or what made you lean towards going to one store compared to another? Maybe it was cost, maybe it was something your friend suggested but every decision made to buy something can be contributed to marketing. Marketing is a widely used term to describe the means of communication between the company and the consumer audience, it is also the adaptation of the commercial activities and use of advertizements by the organizations with a purpose to induce mental thoughts in the targeted consumer.

Businesses are profit-seeking entities. Hence, the main aim of businesses is to survive and grow. In order to achieve these objectives, businesses have to satisfy the consumers’ needs. Marketing helps to realise this through marketing activities. By helping to sell, marketing activities contribute to the creation of wealth. According to the CIM (Chartered Institute of Marketing) “Marketing is the management process responsible for identifying, anticipating and satisfying consumers’ requirements profitably.” In other words, marketing helps businesses to put a product on the market at the right place, at the right price, and at the right moment using the most suitable promotion. For example, a company has no interest in selling solar panel in countries where there are not a lot of sunshine pear year or in selling scholar supplies a long time after the back-to-school period. To elaborate plans for a good or a service, businesses therefore use marketing activities such as the process of segmentation of the market that leads to the identification of a target market (for example, a certain part of the population such as teenagers or family) In order to satisfy its target market, firms manipulation some controllable variables (price, promotion…) also known as Marketing Mix. However, for a company to survive and grow, identifying and trying to anticipate the consumers’ needs is not a sufficient condition. Companies also need to accommodate to the constant marketing environment

Marketing is about the relationship between an organisation and its marketplace, and in particular its customers and potential customers. Customers are the lifeblood of a

Marketing is the sometimes the soul reason a product is chosen. Whether it is something one needs or it is an everyday service provided, how this is marketed can be the reason one business is so successful and another is not.

Marketing has become a major part of business activity since the marketing revolution in the 1960’s. Keith (1960, p.35) identified that “marketing is emerging as the most important single function in business,” around 50 years since its emergence, marketing is now a fundamental function in any businesses operations. While most people believe that marketing is exclusively about promotion and selling, the marketing process entails conducting many more essential functions and activities before the products are even sold (Kotler, Shaw, Fitzroy & Chandler 1983). As identified by Kotler et al. (1983, p. 4), “if the marketer does a good job of identifying consumer needs, developing appropriate products, and pricing, distributing and promoting them effectively, these goods will sell very easily.” While the concept of selling and promoting are important, they are only part of the much bigger marketing process and mix. This directly correlates to the marketing concept of customer value. This concept is crucial in the marketing process as the organisation will not be able to sell a product unless it satisfies consumer needs and provides them with the ultimate value. For the customer to want to connect with the organisation they must feel they are gaining more from the product than they need to put in (Smith and Colgate, 2007). Due to the necessity to satisfy consumer needs an inextricable relationship exists between successful marketing and the creation of customer value.

Marketing is defined as an organisational function containing a set of processes for designing, communicating and delivering value to consumers and managing consumer relations in manner that benefits an organisation (Sheth & Sisodia, 2006, p. 105). Some of the processes involved in delivering and communicating the value to consumer include advertising, packaging design, use of discounts, product or service campaign meant to create awareness, and celebrity endorsement. Marketing is what an organisation does to gain consumers and retain a relationship with them. The main goal for marketing is persuade consumer about the value of products and services being offered, hence, ensuring increased sales and profitability.