What is Marketing and why it is important?

In my view marketing is really the blending of economics, international business and psychology. Economics is the social science that studies the production, distribution, and consumption of goods and services. International business is the trade of those goods and services at a global or transnational scale. Psychology is the science that studies human mental processes and behaviour. And the blending of these three core areas results in marketing, which is the ‘process’ of getting potential customers interested in your products and services.

Marketing is important that it connects the right customers to the right product or service. This connection occurs through analysis, market research, and understanding your ideal customer’s mental processes and behaviour. A good marketing campaign allows an organisation to research, promote, distribute products or services, and make a profit, from known customers. A great marketing campaign takes the organisation to the next level, which also involves known customers but also includes new prospective customers and which discovers unknown high value customers.

Marketing is important in engaging your customers and keeping those customers engaged, by building up loyalty. It identifies and creates consumer need, as well as in new prospective customers and those customers currently unknown to the organisation. It is important in creating a good and known brand image of its goods and services.

Marketing ultimately is there to increase sales. It helps sales teams, and other employees involved in customer interactions have awareness of what is being offered, and enables others to convey its value in customer-centric ways, and create deeper customer knowledge and insight.

A big part of modern marketing is electronic marketing (E-marketing) which involves using the internet to promote products and services, this includes email marketing, social media marketing, and others. E-marketing is an effective marketing tool for businesses as it draws prequalified sales leads.

How do you embrace, develop and implement the powerful potential of marketing so that your business can achieve that all so important competitive advantage which enables continued success in the marketplace. Make sure you grow your business with a great marketing strategy.

For more information and details on how we can help and support you, consult us today by sending us an email through info@in2focus.com.au and we’ll contact you.