The Importance Of Marketing And Tools Of Marketing Essay
‘The simplest definition of marketing is managing profitable customer relationships’ (Introduction to Business Processes, Operations, Management and Marketing, 2011, p. 6). Any Businesses cannot build strong relationships without this function in an organization. In this essay, I am going to analyse importance of marketing and tools of marketing.
Definition of marketing
Although marketing is often seen as advertising through televisions, newspapers or magazines and selling products or services to customers, marketing is the process of understanding customer needs precisely, build a product planning and choose most efficient marketing channel, and attempt to increase demand and develop new markets. REFERENCE
Why is marketing important?
As mentioned before, none of businesses can survive without marketing. One of function of marketing is to increase awareness of products or services of company to customers. ‘Without marketing, your potential customers may never be aware of your business offerings and your business may not be given the opportunity to progress and succeed.’ (Lorette, K). That is to say, lack of strong marketing would never make a successful business. To give an illustration of what this means, this essay will state example of marketing failure. “In advance of Halloween, Walmart listed a new shopping category on its website entitled “Fat Girl Costumes.” The reaction among the public was not what the major retailer was hoping for.
One theory for this…