Marketing is the process of planning, advertising, promotions so that goods and services low to the buyer from the manufacturer of producer.
It involves the general knowledge on products and services, the strength and weakness of the producer, how the public feels about that certain good, threats of that company from competition and producers external opportunities and threats.
Because the producers aim is to make more sales improving profit, market managers must be aware of each competitor, their weaknesses and strengths, fully equip themselves with relevant information to be able to improve on their company or firm.Marketing may involve sales, advertisements, well laid strategies adopted by market managers or the marketing team so as to promote products and services to the customers increasing sales.
Relationship marketing, word of mouth marketing which is done by use of mouth, mass marketing which producer uses to drive large sales and transactional marketing whereby services like discounts , coupons, aftersales services are offered are some types of marketing.
Marketing improves recognition of a new or old product in the market, its awareness and how better it is than the others.
A frequently advertised product will have more people knowing it and talking of it than that which hasn’t been advertise.
A well marketed company or firm with its profile known in the market will have less worries in case they have a new product or service as they are sought to be the best.
Any company’s ability to do the best can only be known through marketing as it opens up to the public and this gives it more credit as customers are aware where to get the best.
Another advantage is that marketing improves companies profit making; as more consumers are willing to buy from that well known service-provider, profit increases and this is every companies goal-to maximize its profit.
Any business is aimed at satisfying customers’ daily needs and wants, and this can only be understood through marketing.
Information provided through marketing gives business power to stay providing goods and services.
Marketing gives company ability to showcase their latest or upcoming goods or services that the market does not have and the greatest and new thing the a company is inventing in future which maximizes trust to its customers.
Apart from companies advantage, advertisements gives customers ability to express their feelings toward certain products being marketed and the producer should formulate whatever the consumers are saying if they want to continue being relevant in the market.