Assignment On

Is marketing and promotion important

for the success of the Business?

Yes, marketing and promotion

important for the success of the
business. Marketing is important
because it allows businesses to
maintain long-lasting and ever-present
relationships with their audience.

On the other hand, Promotion is

important to ensure that customer are
aware of the existence and positioning
of product. Promotion helps people
know that the right product at right
price is available at the right place.
Let’s further discuss in details how
marketing and promotion important
for the success of business :-

Promotions are very important factor

in a business .Promotions typically
include advertising, publicity, sales
promotions and other tactics. The key
to producing results through
promotions is ensuring that companies
target the right consumers Promotion
is the voice of a business which send
out a business brand’s message loud
and clear to the audience.

Benefits are ,Increase brand

awareness, Provide appropriate
information,
Increase Customer Traffic ,Build sales
and profits.

Without promotions, a business brand

or service would not be able to garner
the attention of pre-occupied
customers. Promotion helps in the
sales of the goods in market.

Importance of promotion

The importance of a promotion

strategy depends on your objectives.
Promotions can accomplish several
different goals:

Boost brand awareness.

Convince people to try a new product
at least once.

Provide information. If your product is

new, promotion can make people
aware of its benefits and why it’s
better than the competition.

Increase customer use. Frequent-flyer

programs are an example of this kind
of promotion. A traveler who uses
Delta or American Airlines over and
over can qualify for free flights down
the road. Using a credit card tied to the
airline gives customers more miles.
The heart of any business success lies
in its marketing. Most aspects of
business depend on successful
marketing. A business can offer best
products and services to the market
but without marketing the customer
wouldn’t know about the products and
services . Hence, sales may crash and
business may have to close.

Getting Word Out

For a business to succeed, the product
or service it provides must be known to
potential buyers. Unless a business is
known in the community and have
communication with customers readily
available, a business has to use
marketing strategies to create product
or service awareness. Without
marketing, potential customers may
never be aware of a business offerings
and business may not be given the
opportunity to progress and succeed.

Higher sales
Once the products and services is
getting known by the customers results
in increasing in sales. If the product is
satisfy and accept by the customer
then they can also tell their friends and
family members.
Company Reputation
The success of a company often rests
on a solid reputation. Marketing builds
brand name recognition or product
recall with a company. The reputation
of a company is built through active
participation in community programs,
effective communication and quality
products or services, which are created
or supported by marketing efforts.

Healthy Competition
Businesses that have a monopoly on
products and services that can charge
almost any price, marketing helps keep
pricing competitive for a business to try
to win over consumers before its
competition does. Marketing facilitates
the healthy competition that allows
small businesses and new businesses to
be successful enter and grow in the
marketplace.

Considerations
Although marketing is hugely
important for a business to succeed, it
can also be very expensive. A
marketing program that gives your
company the best chance is a healthy
mix of different forms of marketing,
such as website development, public
relations, print and broadcast
advertising, design and printing for all
print materials, trade shows and other
special events.

Shashant nagwanshi