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Importance of Marketing
- 1. IMPORTANCE OF MARKETIN G CREATED BY: ALEC PRESTON
- 2. WHAT IS MARKETING • MARKETING IS WHEN A COMPANY PROMOTES A SERVICE OR PRODUCT • MARKETING GIVES COMPANIES THE ABILITY TO SHOW OFF THEIR PRODUCTS AND HELP GET THE WORD OUT.
- 3. PROS TO MARKETING Get word out about your product or service Ability to promote whatever you desire Increase in sales Ability to reach a wide range of audiences
- 4. CONS TO MARKETING • CAN BE VERY EXPENSIVE • CAN HAVE A NEGATIVE EFFECT ON A PRODUCT OR SERVICE IF MARKETED INCORRECTLY • CAN LEAD TO PEOPLE COPYING YOUR PRODUCT
- 5. HOW TO MARKET • FIRST ESTABLISH YOUR PRODUCT OR SERVICE • FIGURE OUT YOUR TARGET AUDIENCE • SEE HOW TO RELATE TO YOUR TARGET AUDIENCE AND HOW TO GET A MESSAGE ACROSS • FINALLY CREATE CLEVER WAYS TO BREACH THE MIND OF YOUR TARGETED AUDIENCE
- 6. DO ALL COMPANI ES MARKET Majority of companies must market themselves. Word of mouth doesn’t travel very far when it comes to running a business Marketing is by far the most efficient way to get your product or service in the mind of people
- 7. RELATING TO YOUR TARGET AUDIENCE Find the age group that best fits your product or service Find the activity this age group does, for example younger generations enjoy social media and older generations read newspapers. Connecting with your target audience is the most important step to marketing If you aren't connected to your target audience then people won't listen to your advertisements
- 8. TYPES OF MARKETING • THERE ARE LOADS OF MARKETING TYPES, SOME EXAMPLES WOULD BE DIGITAL MARKETING, CAUSE MARKETING AND DATABASE MARKETING. • FIGURING OUT WHAT TYPES OF MARKETING APPEAL TO YOUR PRODUCT OR SERVICE IS EXTREMELY IMPORTANT.
- 9. COST OF MARKETING • MARKETING CAN EITHER BE FREE OR EXPENSIVE IT ALL DEPENDS ON YOUR TYPE OF MARKETING AND HOW YOU PLAN TO USE IT. • FOR INSTANCE IF YOU WANTED TO RUN A SUPER BOWL ADD IT'S GOING TO COST MILLIONS • IF YOU WANTED TO OPEN A COMPANY TWITTER ACCOUNT AND POST ADVERTISEMENT'S IT WON'T COST ANYTHING.
- 10. IMPORTANCE OF MARKETING • MARKETING ESTABLISHES A VOICE FOR YOUR PRODUCT OR SERVICE • THIS VOICE DETERMINES HOW SUCCESSFUL YOUR PRODUCT WILL BE • WITH SUCCESS COMES PROFITS (TYPICALLY) WITHOUT THIS VOICE YOUR COMPANY WON'T SUCCEED THUS LEADING TO THE END.