Advantages and disadvantages of marketing to the business edit
Marketing is traditionally the means by which an organization communicates to, connects with, and engage its target audience to convey the value of and ultimately sell its products and services. But now it has increasingly become more about companies building deeper, more meaningful and lasting relationships with their people that they want to buy their products and services.Julie,Barile(2010)marketing in the 21 century
Marketing have advantages and disadvantages to a business and this includes: you may also look at [1]
Advantages edit
Marketing creates irresistible experiences that connect with people personally and create the desire to share with other’s.Marketing also create a link between consumer and brands, and the procedures followed in the process create a brand personality designed to be compatible with the target.Debora, w (2012) Marketing romances the consumer in the hopes of establishing a long term commitment as Bill Gates stated that:”if I was down to my dollar, I’d spend it on PR.” Another advantage according to (jayme, 2012) states that”marketing creates integrated campaign to generate leads that positively influences sales, brand, value and vision. When customers are not satisfied with a certain product or service you offer, marketing is the only way that can be able to determine that customers are not proud of their products and their service offerings or otherwise if they did not carry out a marketing research they will just see their customers moving to their competitors without knowing what is happening.in short the advantages of marketing are summirised as "identifies needs and wants of consumers,determines demand for product,aids in design of products that fulfill consumers needs,outlines measures for generating the cash for daily operation, to repay debts and to turn a profit,identifies competitors and analyzes your product's or firm's competitive advantage,identifies new product areas,identifies new and/or potential customers and allows for test to see if strategies are giving the desired results".this information can be found at:[[[2]]]
Disadvantages edit
The first disadvantage is that carrying out a marketing research is very expensive since the marketing process includes many activities that have to be paid for such as advertising. Another disadvantage is that,marketing research takes long time to be carried out.(Adrian, 2012). If marketing research is not carried out than the business will not know when customers changed their preferences about their products and services which is regarded as important when it comes to marketing.(Kotler&Armstrong,2011).Disadvantages of marketing are also summarised well on:[[[3]]] as "identifies weaknesses in your business skills,leads to faulty marketing decisions based on improperly analyzed data,creates unrealistic financial projections if information is interpreted incorrectly and identifies weaknesses in your overall business plan"
To have a successful business, with high profit, large market share and economies of scale the business must take marketing into consideration
References edit
[1] julie,Barile(2010)marketing in the 21century.pg.17 [2]
- Debora,w(2012)
- jayme,s(2012)
- (Adrian,2012)
- Kotler&Armstrong(2011)marketing principles,eighth edition.pg.23
Emilly212022318 (talk) 16:55, 4 October 2012 (UTC)