Why Marketing is Important in Business ?
Imagine you’re on a quest for a life partner but haven’t created any profiles on platforms like Shaadi, nor have you mentioned it to friends and family. Each day passes with hopeful outings, waiting for a potential match, but alas, no progress. Are you on the brink of fearing a lifetime of solitude?
Now picture this: You decide to take charge. You upload a smart picture on matrimonial platforms, sharing a thoughtful bio with family and friends, complete with pictures. Suddenly, every day brings new dates and marriage proposals. Interesting, right? It seems like you’re making headway towards your goal.
In scenario 1, where you kept your quest to yourself, there was no mention of your goal or purpose. However, in scenario 2, where you bravely shared your purpose, things changed. You entered the realm of self-marketing.
Whether it’s personal life or running a company, marketing is the vehicle that lets people know about your purpose and services.
Why Marketing is important in Business?
In today’s competitive business world, marketing is like the voice of a business, helping it connect with customers and grow.
Let’s break it down: Marketing helps in
- Boost sales.
- Making informed decisions.
- Boosts business growth.
- Building Reputation.
- Increase profits.
- Engage Consumers.
- Brand Awareness.
- Builds relationship among customers.
- Consumers awareness.
- Provides information.
- Marketing creates Revenue options.
- Improve Business performance.
- Develop essentials business insights.
- Marketing builds brand.
Let’s discuss these points with the example of Emily, the owner of the bakery store.
Let’s imagine a local bakery, Sweet Delights, run by a passionate baker named Emily. Initially, she baked incredible treats but struggled to attract enough customers. One day, she decided to embark on a marketing journey.
Boosts Sales: Emily created a Facebook page showcasing her mouthwatering pastries, muffins, and cakes. She posted daily specials and promotions, enticing locals to visit. The result? Sweet Delights’ sales soared as more people discovered and craved her delicious creations.
Making Informed Decisions: Emily tracked customer preferences through surveys and social media interactions. Armed with this data, she introduced new flavors and adjusted her offerings based on popular demand, ensuring every treat delighted her customers.
Boosts Business Growth: As the word spread, Sweet Delights’ customer base expanded beyond the neighborhood. Emily started catering for events and collaborating with nearby coffee shops. The bakery’s growth was fueled by targeted marketing efforts.
Building Reputation: Consistent quality and engaging marketing built Sweet Delights’ reputation as the go-to place for delectable baked goods. Positive online reviews and word-of-mouth recommendations solidified the bakery’s trustworthy image.
Increase Profits: By introducing loyalty programs and special discounts through marketing channels, Emily not only retained existing customers but also attracted new ones, resulting in increased profits for Sweet Delights.
Engage Consumers: Emily interacted with customers on social media, responding to comments and sharing behind-the-scenes glimpses of her baking process. This engagement built a loyal community around Sweet Delights.
Brand Awareness: The distinctive Sweet Delights logo and consistent branding across marketing materials helped the bakery become a recognizable and trusted brand in the local community.
Builds Relationship Among Customers: Emily organized events like cupcake decorating classes and customer appreciation days, fostering a sense of community and friendship among Sweet Delights’ customers.
Consumers Awareness: Through strategic marketing, Emily highlighted the bakery’s commitment to using locally sourced ingredients and promoting sustainable practices, creating awareness and attracting customers who valued these principles.
Provides Information: Marketing materials, both online and in-store, provided detailed information about the ingredients used, baking processes, and the story behind Sweet Delights, educating customers and building a connection.
Marketing Creates Revenue Options: Emily explored new revenue streams, such as offering custom cake designs and selling branded merchandise, tapping into diverse market segments.
Improve Business Performance: Regularly analyzing the impact of marketing campaigns allowed Emily to adapt quickly to changing trends and customer preferences, leading to improved overall business performance.
Develops Essential Business Insights: Marketing analytics provided crucial insights into customer behavior, allowing Emily to make informed decisions that positively influenced Sweet Delights’ growth.
Marketing Builds Brand: Through storytelling and consistent messaging, Sweet Delights became more than just a bakery; it became a beloved brand with a unique identity that resonated with customers.
In this story, marketing played a transformative role in Sweet Delights’ journey from a local bakery to a thriving business, showcasing the real-world impact and importance of effective marketing strategies.