Importance Of Marketing

Marketing is a word often used, but few who say it understand what marketing is. To help understand the importance of marketing in the workplace, he or she should define what it is. When defining what marketing is, this paper will explain the importance of marketing and what every company must understand for it to succeed. To solidify the importance of marketing to a company, there will be examples on how marketing is useful in the business world.Marketing is a method by which a company generates customer interest in a product or service. When a company decides to market their product, they must develop a strategy with sales, have business communication and development to display the product or service. Management must understand that a strong

The American Marketing Association spent years coming up with their definition of marketing which is Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (AMA, 2007). To put it simply, marketing is satisfying a relationship with a customer of some type to accept a product or service.To offer a better way to visualize how marketing is useful below are three examples of how a company can use their marketing department to improve profitsExample one would be a trade show. Trade shows provide a unique opportunity for a business to showcase his or her product or service to a group of customers he or she is looking for a specific type of product. Marketing is important here because trade shows are usually for products customers usually cannot go into a store to view multiple variations of products. A business will be able to offer a fact to face discussion of the product and receive feedback about the positive or negative aspects given to

Joe is thirsty and at a store he may see the companys logo and think about the funny commercial and purchase the product.Example three is to sponsor an event. This type of marketing does not usually provide large sales the day of the event, but sponsoring an event is a mental type of marketing. This shows potential customers at the event that the company cares about the customers and provided money to the event so that people can have a good time. The billboards, flyers, and name of the company are associated with the events and these advertisements bombard customers with image after image of the company in hopes of imprinting the business into the minds of the event patrons. With the hopes that the next time the customer sees the company logo on a product, he or she will remember the good feeling of the event and purchase the product or service.In conclusion by providing a definition, displaying the importance and providing examples of marketing, he or she is better able to provide focus to his or her company toward marketing. A company must understand that marketing is used to provide customers with a better experience with the products or services his or her company