Understanding the Importance of Marketing

Many companies don’t learn the importance of marketing and having a firm marketing plan until it is much too late. In a world where companies are going out of business all the time and competition is fierce, it is vital that you develop a marketing plan that is appropriate to both your business and the times we live in.

In order to understand the importance of marketing, you must first understand what it is comprised of. Marketing is a vast term that describes a variety of corporate activities including (but not limited to) advertising, direct mail, public relations, sales, promotions, and customer incentives. If it is used to promote the company or product in any way, then it falls under the category of marketing.

With the Internet as jammed as it is these days with so many companies, you need to make a concerted effort to even get your name noticed. The same is true of bricks-and-mortar retail outlets or companies that sell business-to-business. Few people use the “Yellow Pages” to find information anymore, and those that do are usually targeting people who are older and not particularly savvy on the Web.

If you want to understand the importance of marketing to your business, you should first take a look at your competitors and see what they are doing and if they are succeeding. You should then take a look at your current customers, find out what they all have in common (such as where they found you), and determine how to get more of them. Finally, you really do need to sit down with people from several different departments of your company to develop a marketing plan that will help promote your product to the marketplace, with a strong, unilateral message to just the right group of potential customers.