It’s the process by which goods and services are channeled from the producer to the market for the consumer by promoting, selling and distributing the products or services.
Marketing generally aims in increasing sales and thus some factors are considered like weaknesses and strengths of the company, business opportunities in the market and the consumers feeling and touch of the consumer on some goods.
People responsible of marketing will ensure that thy have the full knowledge of the market structure, all competitors they are competing with, their strengths and weakness or any other business opportunity in the market so as they can out win their competitors and appear more revealing to the consumers. It comprises of sales, promotional goods and services, after sale services which increase loyalty and likeness’s to the consumer and advertisements to increase awareness of how certain goods and services are better than the others being supplied.
Relationship marketing, word of mouth marketing which is done by use of mouth, mass marketing which producer uses to drive large sales and transactional marketing whereby services like discounts , coupons, aftersales services are offered are some types of marketing.
It increase fame of a product that has been or new in the market.
A frequently advertised product will have more people knowing it and talking of it than that which hasn’t been advertise.
Marketing improves companies profile more so if their services are best, this increases the trust between consumers and them in the market giving them market for their new products.
Any company’s ability to do the best can only be known through marketing as it opens up to the public and this gives it more credit as customers are aware where to get the best.
The more the products are known in the market, the more they are bought and the more profit the producer earns and this familiarity can only be increased through marketing.
Marketing identifies customer needs and wants and this is the main reason for opening any business; to satisfy needs and wants of the customers. This makes it vital to do marketing in order to understand the state of the market.
Information provided through marketing gives business power to stay providing goods and services.
Marketing gives company ability to showcase their latest or upcoming goods or services that the market does not have and the greatest and new thing the a company is inventing in future which maximizes trust to its customers.
Marketing gives power to consumers to talk whatever they like about certain products being marketed and if the producer utilizes this important information it becomes advantage to him.