Marketing encompasses a far wider range of activities, and in reality is performed not just by businesses, but by all of us. Marketing involves the process which identifies what customers want, then devises a strategy which will satisfy those wants. It's about getting the right product to the right customers at the right price at the right time... displayed 300 characters
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It's about getting the right product to the right customers at the right price at the right time.
When effective marketing techniques are used, the business will acquire many benefits, another reason for the importance of marketing. Its core objectives of a business (its goals and missions) can be met and these objectives include:
? Building brand recognition ? this can be done through advertising, which will get people to buy your product and eventually build a brand recognition as sales increase
? Repeat purchases ? by getting customer satisfaction, the business can persuade existing or finding new customers to purchase more on a regular basis, which will increase profitability
? Gaining market leadership
? Increasing market share ? by gaining a larger share of a particular market, business can benefit from economies of scale
? Market domination ? selling a greater quantity may enable the business to dominate the market and prevent other businesses in coming in to the market
In recent corporate history there has also been a greater emphasis on marketing and there are several reasons why marketing has become more significant to the success of a business... displayed 300 characters
