The Importance of Marketing - 1341 Words

Marketing helps the business to develop a strong brand, inform the customers about new products or services, influence consumers in some way to buy specific products, assist with sales and provide up-selling services. American Marketing Association (AMA) describes marketing as the set of actions and processes within the company that generate, communicate and deliver offers that have some sort of value for the customers and the general public (link to source). Dr. Philip Kotler provides another description for the marketing and defines it as â€Å"the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit (link to source). Marketing helps to recognise unsatisfied customer needs. It also outlines the potential market with profit and designs suitable products for it. While marketing includes quite broad set of implementation models and techniques, there are a number of foundation elements that hold all marketing theories together. Understanding the core essentials of marketing can enhance effectiveness of the marketing and business overall. One of the main ideas of marketing is the concept that successful businesses offer products with unique benefits, not only with exclusive features. The below example demonstrates this model very well. Cinemas are part of the entertainment industry, with its purpose to delight and entertain audiences. Like all other entertainment mediums, Village cinema was greatly affected by theShow MoreRelatedImportance of Marketing882 Words   |  4 PagesRunning head: THE IMPORTANCE OF MARKETING IN ORGANIZATIONS The Importance of Marketing in Organizations Verisha Barrett University of Phoenix Marketing MKT/421 Marc Mosko Apr 22, 2006 The Importance of Marketing in Organizations Marketing has become one of the most critical increasing forces which drive today’s companies. With marketing a company has power to carefully plan and implement the strategies to make a company successful. 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No. 04VWCM 6117 With the guidance and support of Prof. Raja Sekhar Faculty: MBA [pic] ALLIANCE BUSINESS ACADEMY BANGALORE – 560 076 Batch: 2004-2006 Declaration IRead MoreThe Importance Of The Marketing Budget1172 Words   |  5 PagesThe good news is marketing budgets have been on a steady incline for the past few years and have officially climbed all the way to 12 percent of company revenue. In fact, 2017 is the third consecutive year of marketing budget increases across the US and the UK—so it seems like everyone is spending more. The bad news is you still have to validate your marketing budget to your boss, which isn’t the easiest thing to do. If it’s time for you to take the plunge and justify your marketing budget to yourRead MoreThe Importance Of Article Marketing1104 Words   |  5 PagesSearching out help with article marketing? Locate it right here! Should article advertising and marketing be a super technique of marketing your business? 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