1. Briefly outline and explain what is your understanding of marketing?

What is marketing?

Examples of marketing

Talk about the 4ps

2. Suggest three (3) reason why companies engaging in marketing?

Three reasons why companies engage in marketing are: it increases brand

awareness, it increases sales and it assists in growing the business.

Marketing is an effective way in which companies can increase brand

awareness. Marketing Is a communication channel used to engage and inform
customers. This channel allows communication between the business and its
customers through mediums such as the radio, television, email and social
media to inform customers about the products and services that a business
offers.

Another reason why companies engage in marketing is that is increases sales.

Marketing assists in capturing the attention of customers about the products
and or services a business is offering, this can lead them to buying the good
that the business is offering. An increase in sales can lead to an increase in
profit.

Lastly, companies engage in marketing because it assists the business in

growing. Marketing not only informs current customers of the products and
services a business is offering, but it also informs potential customers.

One if the main reasons why companies engage in marketing is to raise

awareness of products to new and existing customers.

3. Briefly outline four (4) benefits of marketing to a company?

Four benefits of marketing to a company are:

 1. Increases revenue
2. Helps maintain relationships with customers
3. Improves decision making
4. Builds a good reputation for the business

Through marketing, the products and services, which are unique and of high
quality mainly capture the attention of customers and in the process, make them
esteemed consumers. The customers are the only options that can help you boost
the sales (https://www.b2bmarketing.net/en-gb/resources/blog/9-awesome-ways-
boost-sales#:~:text=Marketing%20is%20a%20definite%20way,help%20you
%20boost%20the%20sales)

Marketing is an effective way to engage customers. The marketing process involves keeping
the channel of communication open with customers by creating a relationship with their
customer base to foster brand loyalty and awareness through various marketing campaigns,
such as social media (Facebook, website), In addition, and conducting product tours to make
customers learn about your products or services. The goal is achievable by a company doing
the following: involving their customers in the product making process.

Marketing allows an organization to create and maintain a healthy relationship with its

consumers on a daily basis. It is crucial for businesses to involve its customers and marketing
allows for this communication and conversation between them. It is imperative that a
business builds a relationship of trust and understanding to establish a good relationship
with its customers. Long –term customers are less likely to leave and the longer these
relationship lasts with the customers, the more profitable they become. Once your business
can establish this trust with your clients, it creates customer loyalty. People want to know
that they are buying from a reputable company. It takes time to build the trust and
reputation for your business.  If your clients are happy with your products or services, they
will talk about your business offering a free word of mouth advertisement.  
Marketing allows you to reach new customers and helps you to expand into other areas.
According to Michaelidou et al (2011) the most popular objective of using social marketing is
to attract new customers. Marketing provides many routes to achieve growth for a company
from print advertising, social media marketing and mobile applications therefor learning
about ways to maximize these efforts will help a business move into new areas and reach
new audiences (Kent, 2020). Once you put your company out there you will always have the
potential to reach new persons to do business with you.

https://www.cogentanalytics.com/knowledge-center/importance-of-
marketing-in-business/

4. Briefly outline four (4) benefits of marketing to a company?

Increases sales