Advantages Of Marketing
A lot of times an establishment may get to catechize on the highlights of marketing as someone may turn a blind eye on this department which is really crucial for the wellbeing of a company. In this discussion we are going to analyze the importance of marketing which involves the activities of buying, advertising, distributing a given product or service.
There are many benefits but before we expound on them there are a number of marketing mix that a company must think about before deciding to go all in marketing. The manufactured item that is being produced is one of the key considerations as to know the fitness of a product in given market niche as who are your target buyers or even service that you are rendering who do you hope to achieve.
The other thing is the selling price as one should be considerate such that to arrive at cost that will not cause loss to you or customers find that you are too pricy. Another marketing mix that one has to consider is the promotion different ways of putting your product out other so that customers may get to know of them such methods may include advertising, the online platform, giving people offers , sampling are among the many methods a company may use to make their products move. Place is another determinant as the product or the service needs to be brought close to the client and it must relate to the nature of a given area. It is common for a product not to do so well in a given region but in another it sells it is good to have this factor in mind.
One of the importance is that it is able to be a source of livelihood for the citizens as they get to make a living. The value is that it is able to generate income in terms of the volume of items sold.
The advertising of a product is that it is able to create a view point as the market is dynamic and the organization is able to find new ways of penetrating in the market. Another benefit is that it is able to create healthy competition as we know a firm cannot exist on its own and it is upon the marketing department to find new ways of reaching clients and find out what their competitors are doing and not doing and this way they will be able to compete. The act of advertising, promotion and so on is able to help the organization make an informed choice of how much to produce and what season is the product doing well.
The advantage is that the image of a company is able to be on the top as they are seen to be doing well to the community as it is a strategy of making their products known. In conclusion we have been able to see that marketing is an important tool that cannot go unnoticed.
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Advantages Of Marketing