Importance of Marketing

Marketing is a very important aspect in business since it contributes greatly to the

success of the organization. Production and distribution depend largely on
marketing. Many people think that sales and marketing are basically the same.
These two concepts are different in many aspects. Marketing covers advertising,
promotions, public relations, and sales. It is the process of introducing and promoting
the product or service into the market and encourages sales from the buying public.
Sales refer to the act of buying or the actual transaction of customers purchasing the
product or service.

Since the goal of marketing is to make the product or service widely known and
recognized to the market, marketers must be creative in their marketing activities. In
this competitive nature of many businesses, getting the product noticed is not that
easy.

Strategically, the business must be centered on the customers more than the
products. Although good and quality products are also essential, the buying public
still has their personal preferences. If you target more of their needs, they will come
back again and again and even bring along recruits. If you push more on the product
and disregard their wants and the benefits they can get, you will lose your customers
in no time. The sad thing is that getting them back is the hardest part.

Marketing gives great importance to the customers of the business and has two important principles
to take forward the same cause:
a. All the policies of the company and the company activities should be directed toward the end of
satisfying customer needs.
b. What is more important than achieving maximum sales volume is to attain a profitable sales volume

Currently in India, the national economy and marketplace are undergoing rapid changes and
transformation. A large number of reasons could be attributed to these changes. One of the reasons
in these changes in the Indian Market Scenario is Globalization, and the subsequent and resulting
explosive growth of global trade and the international competition.

The other reason for these changes in the Indian Market Scenario is the technological change. This is
an important factor because the technological competitiveness is making, not only the Indian market,
but also the global marketplace cutthroat.

In the Indian Marketing Scenario, the market success goes to those companies that are best matched
to the current environmental imperatives. Those companies that can deliver what the people want and
can delight the Indian customers are the market leaders.
Today the companies are operating in such a marketplace where survival of the fittest is the law. In
order to win, the companies are coming out with various new and evolving strategies because the
Indian market is also changing very fast. It is to capture the Indian market, that the Indian and the
Multi National Companies are using all of their resources.

The Indian market is no longer a sellers market. The winner is the one who provides value for money.
A large number of companies have huge idle capacities, as they have wrongly calculated the market
size and installed huge capacities. This has further contributed to converting the Indian market into a
buyers market.

The Indian Marketing Scenario is one of the biggest consumer markets and that is precisely the
reason why India has attracted several MNC’s. These large Multi National Companies have realized
that to succeed in the Indian market-place they need to hire Indian representative who are much more
aware of the Indian economic, political, legal and social realities. In the Indian Marketing Scenario, it is
the MADE FOR INDIA marketing strategies that work

Marketing Promotes Product Awareness to the Public

It has already been mentioned in the previous paragraph that getting the product or
service recognized by the market is the primary goal of marketing. No business
possibly ever thought of just letting the people find out about the business
themselves, unless you have already established a reputation in the industry. But if
you are a start-out company, the only means to be made known is to advertise and
promote. Your business may be spending on the advertising and promotional
programs but the important thing is that product and company information is
disseminated to the buying public.

Various types of marketing approaches can be utilized by an organization. All forms

of marketing promote product awareness to the market at large. Offline and online
marketing make it possible for the people to be educated with the various products
and services that they can take advantage of.

A company must invest in marketing so as not to miss the opportunity of being

discovered. If expense is to be considered, there are cost-effective marketing
techniques a company can embark on such as pay-per-click ads and blogging.
Marketing Helps Boost Product Sales

Apart from public awareness about a company’s products and services, marketing
helps boost sales and revenue growth. Whatever your business is selling, it will
generate sales once the public learns about your product through TV
advertisements, radio commercials, newspaper ads, online ads, and other forms of
marketing. The more people hear and see more of your advertisements, the more
they will be interested to buy.

If your company aims to increase the sales percentage and double the production,
the marketing department must be able to come up with effective and strategic
marketing plans.

Marketing Builds Company Reputation

In order to conquer the general market, marketers aim to create a brand name
recognition or product recall. This is a technique for the consumers to easily
associate the brand name with the images, logo, or caption that they hear and see in
the advertisements.

For example, McDonalds is known for its arch design which attracts people and
identifies the image as McDonalds. For some companies, building a reputation to the
public may take time but there are those who easily attract the people. With an
established name in the industry, a business continues to grow and expand because
more and more customers will purchase the products or take advantage of the
services from a reputable company.

Marketing plays a very essential role in the success of a company. It educates

people on the latest market trends, helps boost a company’s sales and profit, and
develops company reputation. But marketers must be creative and wise enough to
promote their products with the proper marketing tactics. Although marketing is
important, if it is not conducted and researched well, the company might just be
wasting on expenses and time on a failed marketing approach.