Why Market???

“Business has only two functions – marketing and innovation.” ~ Milan Kundera

So, what is marketing?

Marketing is a process by which a product or service is introduced and promoted to potential customers.

According to Kotler (2010) “Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others”

Why again should we Market???

Marketing is a strategic enabler of sales, a pipeline generator for the company’s future business, and a function that leads the entire company in positioning itself against the competition (Ranjita Ghosh 2018).

Without marketing, your business may offer the best products or services in your industry, but none of your potential customers would know about it.

Without marketing, sales may crash, and companies may go out of business.

Marketing build brand awareness, increase sales, grows businesses and engage customers.

Marketing is a very important tool in which every business can be successful and plays a more important role today than it ever did before in the past. This is because consumer’s lifestyles are continually changing. Marketing is responsible for building an organizations reputation, dealing with bad press, selling new products, and creating customer loyalty.

With all the benefits of marketing, there is a cost attached to it, which can be very expensive. Because of this, a business aiming at becoming profitable or targeting a customer base, can find itself spending almost half of its revenue in marketing fees within the very first year of operation.

Should Marketing be part of the Business Development?

Business development should incorporate marketing, reason being, Business development is the closest to customers and their individual needs, while marketing is positioned to create better messaging and content that will resonate with the consumers.

Each should be informing the other for better results during the consumption process.

How should we Market?

The best form of marketing will be to use mixed and different forms of marketing, like website development, print and the broadcast form of advertising, as well as public relations, designing and printing materials and some special events or promotions.