IMPORTANCE OF MARKETING

Importance of Marketing

Importance of Marketing

Definition

Marketing is aimed at current and future success of the process of organizing the production, promotion and marketing of products based on an understanding of the situation and the processes occur in the market and are designed with respect to establishing an optimal balance the interest of all participants. Marketing means shipping the right product at the right place at the right time at the right price in the right quantities, colors, forms and report to the buyer the right information (David, 1996).

Today, marketing is vital in:

The economy of businesses, organizations and nations.

In improving the quality of life of people and

Generation of more competence and capability of meeting the needs and desires of society. Therefore, no nation, corporation, organization or individual may overlook the importance of marketing in the development of society or group of people and the economy (David, 1996).

Importance of Marketing for Organizations

Marketing acts as the face of any company or organization. The basic aim of marketing is to fulfill the needs of the customer and satisfy his or her needs. However, it is also very important to understand that the whole process of marketing tends to work in the convention with other wings of the company (William, & Ferrell, 2011). Marketing helps any organization to identify its customers and then reaching out to those customers. The basic objective of Marketing is to allow any company or organization to reach out to its profitable customers with the right product at the right time (Graham, 2010).

For companies and organizations, the importance of marketing has been reflected in two basic aspects, and they are as follows:

Whereas the success of any business is to meet the needs or desires of their customers. The importance of marketing lies in the fact that different activities have prompted the company or organization toward achieving that goal. Although many activities (administrative, financial, production, etc) are essential for growing a business, marketing is the only income-producing directly. Marketing directly contributes to achieving these objectives, since it includes activities that are vital to the business organization (Graham, 2010).

Examples

Budweiser - Whassup!!!

The 2000s were the beginnings of the great internet buzz. The American brand Budweiser has understood quickly enough: Web 2.0 and social networks are a new delivery platform that increases exponentially the number of consumers affected by a single advertising campaign.

The story begins in an American company. An employee, exhausted ...