About Lesson
Marketing is important for several reasons. Here are five of reasons:
- Value Creation: At its core, marketing is about meeting the needs and wants of
consumers. It identifies gaps in the market and fills these gaps with products or
services that add value to the consumer’s life. - Building Relationships: Beyond just selling, marketing aims to build lasting
relationships with customers. Loyal customers not only bring repeat business but also
become brand ambassadors through word-of-mouth promotion. - Driving Sales and Profit: Marketing plays a direct role in promoting products or
services and influencing purchasing decisions. This, in turn, drives sales and
profitability for businesses. - Informing and Educating: Marketing communications inform potential users about
the benefits and uses of a product. It educates them about new product launches or
changes to existing ones. - Competitive Advantage: Effective marketing can differentiate a product or service,
giving a company a competitive edge in the marketplace.
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