Marketing is the process by which goods and services flow from the producer to the consumer through the market by creating awareness of their availability, setting price and offering them to the market for the consumer.
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.
People responsible of marketing will ensure that thy have the full knowledge of the market structure, all competitors they are competing with, their strengths and weakness or any other business opportunity in the market so as they can out win their competitors and appear more revealing to the consumers.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.
There are many types of marketing: relationship marketing, and scarcity marketing where producers might control the amount of products in the markets, word of mouth marketing or oral where information is passed by people, transactional marketing where producers might decide customers to buy and get free goods, coupons after sales services and mass marketing where producers aims at driving large sales.
Marketing improves recognition of a new or old product in the market, its awareness and how better it is than the others.
Improves shopping ability and visibility by increasing consumers knowledge of a product in the market as through advertisement they learn a lot of that certain product, and one will be aware what he/she is shopping for.
Marketing improves companies profile more so if their services are best, this increases the trust between consumers and them in the market giving them market for their new products.
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.
Marketing puts the business in a place that its able to understand every need and want in the market and act upon by providing good and service.
Marketing provides information that can be relevant even for years concerning the state of the market, through this information a company can stay in the market for long using this information.
Marketing is not only beneficial to the customer but also to the producer as he or she gets time and platform to showcase their prowess to their customer. This gives them power to proof to their customers how best they are and through this trust is created and a stronger bond between the consumer and producer.
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.