The first step in establishing a successful business is getting a firsthand knowledge about marketing.
Marketing means getting the right product or service to the right people, at the right price, using the right promotion and publicity.
Marketing truly is the ability to satisfy customers needs better than your competitors in order to make a profit.
Satisfying customers in this term refers to;
— offering lower prices
— putting up positive attitude towards customers
— offering more choices
Advantages Of Understanding Marketing
(1) You are able to know your customers and target them appropriately using the right tools.
(2) It also helps you easily switch investments to meet customers needs.
Poor Knowledge About Marketing Can Cause Difficulties Such As;
(1) Unsystematic work and unclear strategy
(2) Marketing programs become sshort-term and do not support one another in creating a long-term positive effect.
(3) Thinking that marketing is solely the job of the marketing department leads to poor cordination among departments.
(4) Creates confusion between marketing and sales.
Differences Between Marketing And Sales
Selling is marketing, but marketing isnt selling.
Marketing is thinking of your brand interms of your customers needs and how you intend to satisfy them.
Sales refers to the actual exchange of your product for cash while marketing is developing a demand for your product.