Question

Discuss the Importance of Marketing for the Success of a Business?

Discuss the Importance of Marketing for the Success of a Business?

Homework Answers

Answer #1

Marketing is a essential part of the business. Here is some importance of the marketing which leads t the success of the company.

  • Marketing identify the needs of the customer. Not only identify it also generate the needs to the customer and fulfill it effectively so that the company can generate more profit.
  • The marketing make the customer aware about the product. If customers are ware about the product of the company then they will choose the product over the other product. Because there are many alternatives available in the market and the company has to sell its product over competitors.
  • The marketing helps to build brand recognition. Brand recognition means the people can identify the brand over competitors. It helps when customers are buying the product over other products.
  • Marketing helps the company to make the reputation of the company. Reputation is increased when the customer has high expectation and company is able to fulfill it. Marketing identifies the expectation and fulfill it.
  • Marketing is focused to making new customers for the company’s product and retaining the existing customers. The customer bas helps to generate the revenue for the company. Revenue is the ultimate goal of the company.
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