Topic: Introduction of

Marketing
(Definition and its
Importance)
Presented By: Deepali Jain
Introduction of Marketing

Marketing is the process of converting prospective buyers into actual

customers by communicating complete information of the product or
services to the customer. The key elements which are the secret to a
successful marketing practice are thorough market survey and research,
framing a competitive strategy, designing a realistic marketing plan and
implementing different tactics to execute the plan.
Marketing is an ongoing practice to capture customer’s attention
towards a product or service. It is the core of all the business practices,
without which any business will prove to be a colossal failure.
Marketing Strategy
TV Commercial of Honda Bike
Importance of Marketing

 It informs the audience of the products and services that is being offered by a business.
It provides the value of the core product, the usage and additional details that
customers usually want to know. This helps with brand awareness as it relates to
informative advertising.
 It helps you understand your customer: During the first stages of the product life
cycle, everyone has to do market research where market segmentation is done based on
psychographics, behaviour, geographic or demographics. Once the segments have been
identified, the target market is then assessed and the product is positioned accordingly.
 It boost Sales by utilizing different ways to promote the product or service that is being
offered. This can be done through various mediums which include, word of mouth,
social media, direct marketing, press, radio, TV, point of sales, promotions, company
website and other channels that assist with attracting and persuading persons to
purchase the product or service offered. Through the use of a combination of these
mediums, there can be increased sales which positively impacts profitability.
 It Engages: Engaging your customers with relevant information about the
company and what’s new is crucial. It makes them feel like they’re in-the-
know. Marketing helps with this aspect, especially on social media, through
contests and sweepstakes or even in-store advertising or experiential
marketing.
 It gives you healthy competition based on pricing of products and services
amongst competitors; providing they are not a monopoly in which case they
can set any price. With competition other companies are given an opportunity
to exist on the market where they will try to win consumers through
competitive pricing.
 It builds your brand: Brand reputation is what makes or breaks a brand. In
order for your product or services to exist you should aim to have a good
reputation on the market through use of effective marketing mediums. When
your brand is affiliated with a certain standard you will see increase sales and
business expansion.
THANK YOU