Why is Marketing Very Important in Business?

Why is Marketing Very Important in Business?

Dec 2, 2020 marketing by jimmy

In layman’s language, marketing is often referred to as “promotion”. This activity is not only intended to boost sales. Furthermore, marketing also has a crucial role in building a business or company name in the community.

Building Brand Awareness

The first marketing goal is to build brand awareness of a product. In this way, potential customers can get a closer look at the goods or services you offer.
Naturally, brand awareness has the following flow: attention >> interest >> desire >> action. With the right marketing strategy, potential customers will be attracted to your product, then they will feel like trying until they actually buy.

Increase Sales

Even though the product is well known and has a name in the market, marketing is still needed in a business. The goal is to increase sales figures. Remember, there are many competitors out there with marketing techniques that are no less massive and creative.
If you only rely on “name” without being supported by an effective promotion, your product may be left behind by competitors. Marketing can also be a kind of “reminder” to consumers that your product still exists.

Building the Company’s reputation

The importance of marketing is not only concerned with the products being sold, but also the company as a producer. This activity is considered very effective in building the company’s reputation in the eyes of consumers and business partners.
An increasing reputation will automatically be followed by higher public trust in your business. As a result, sales are also increasing. A marketing technique that is no less interesting to try is the Corporate Social Responsibility (CSR) program.

Product Research and Development

Another role of marketing is as a medium for product research and development. This means that marketing will be at the forefront of absorbing and filtering all information from outside that is useful for the development and improvement of the quality of a product or service. That way, potential consumers’ interest in the products you offer will be even higher.

Read also : Definitions, Goals, and Examples for Business Ethics

Understanding Consumers and Markets

The business will not last long if it is not accompanied by in-depth research on consumers and markets. Well, this is where the marketing team comes into play. Their job is to study the interests, interests, and conditions of the community (potential customers) that will be targeted.
Another thing that is no less important to know is the level of purchasing power, trends, needs, and the level of business competition. The things above can later be used as a reference for you to determine product prices.

Customer Education Facilities

Marketing can be the right place to educate customers about the products you market. In its implementation, you can provide the information needed by potential customers regarding product quality, excess raw materials used, how to use it, and so on.
In short, marketing plays a big role in increasing the interest of potential customers to buy and ultimately having high loyalty to your product. This can be done in various ways, such as placing advertisements, holding promotions, CSR, or building a social business as it is currently becoming a trend.