Importance Of Marketing Strategies

INTRODUCTION

We all know today’s world is the business world. In the business world, marketing strategies is one of the most important components. Marketing has several aspects and different types like social media marketing, email marketing, video marketing, influencer marketing, etc. Marketing is used for several purposes like promoting a film, product, brand, starting a business, etc. Do you all know what marketing means? Why and how marketing is important? If no then don’t worry as I am going to discuss “Importance of marketing strategies ” in the below-mentioned context.

ABOUT THE TOPIC

Marketing strategies are those activities which a company undertakes to promote the buying or selling of a product or service. Marketing generally includes advertising, selling, and delivering products to consumers and other businesses. Marketing strategies have several important aspects due to which it is very important and crucial for a business which is mentioned below:-

1. Marketing acts as a means for transfer, exchange, and movement of goods:- Marketing is very essential for transfer, exchange, and movement of goods. Goods and services are made available to customers through various sources like wholesalers, retailers, etc. Marketing is crucial for both customers and producers. It tells the producer about the specific needs and preferences of consumers and it also tells the consumer about the specification of the product and what the manufacturer is offering.
2. Marketing helps in both raising and maintaining the standard of living of the community:- Marketing is about all giving a standard of living to the community. Marketing is considered as the delivery of standard of living. It is the creation and delivery of standard of living in the community. Marketing has proved to be the most important component in raising and maintaining the living standards of the community by making continuous availability of goods and services to consumers at a most reasonable price.
3. Marketing helps in generating employment:- Marketing looks simple but it is a complex process that engages several people in its functions in one form or the other. Marketing has several functions. Despite all this, its major functions include selling, buying, financing, transport, warehousing, standardization, etc. Each function has several activities that require hundreds of people each. This results in employing millions of people. It is found out that nearly 40% of the total population has engaged directly or indirectly in the field of marketing. This modern era of large-scale production and industrialization has marked the widened field of marketing and hence increased the role of marketing.
4. Marketing also acts as a source of income or revenue:- Marketing functions are important because it is the only way through which one can generate revenue or income and can make profits.

CONCLUSION

From the above, we can conclude that marketing is important in several aspects like employment, generating revenue, raising and maintaining living standards of the community, etc.