Why Is Marketing Essential For A Business?

The management process responsible for identifying, anticipating and satisfying customer requirements profitably.

The chartered Institute of Marketing

Marketing is often confused with sales but these are two distinct things. Sales consists of directly convincing a customer to buy a specific product or service, hence bringing in revenue to the company. 

However, Marketing is about drawing a potential customer’s attention by understanding the current market, building brand awareness by using techniques such as advertising, promotional campaigns, etc,, creating trust with customers and also about differentiating a brand from its competitors. 

For instance, let’s take the example of Nike’s ‘Just Do It’ Campaign which has been recognised as one of the most successful marketing campaigns of all time. This campaign started in 1988 and showcased both professional athletes as well as amateurs who would share their athletic achievements on television. 

The ‘Just Do It’ campaign created such a buzz that thousands of people started to share their own stories when they made the decision to take the plunge and ‘Just Do It’ too. This campaign was so successful that even today Nike still uses the tagline, ‘Just Do it” 

What made this campaign such a hit was that it triggered an emotional connection with people. Through these meaningful stories Nike was able to connect the core values that it stands with this campaign  and people who identified themselves with the brand and the campaign reacted. 

The Nike’s ‘Just Do It’ Campaign is a great example of how to engage customers with a brand. The campaign helped in creating fresh content that connected with people. This aroused their interest in the brand. Nowadays, many brands create engagement with customers via Social Media. Using short videos and triggering an emotional connection, a brand is now able to keep its customers interested, hence creating engagement.

Indeed, through marketing, companies are able to build their company’s reputation by branding strategies, public relations (PR), effective communication strategies, social media, etc. These help in showcasing the business in a positive light to customers and potential customers. As a result, such strategies help in building trust in a brand and the business.

Indeed, a successful marketing campaign will grab customers’ attention and make them want to purchase a product or service. In fact, you’re creating a need for people to buy that specific product.

Moreover, if customers who purchased your products are very satisfied, they will start talking about it to their peers, relatives, colleagues, etc. Word of mouth is so valuable in creating an interest in a product or service and can even help in boosting sales.

It’s always important to stay on top of customers’ minds. This is why leading brands keep on coming with innovative and updated products and campaigns and stay on top of the latest trends. With so much competition on the market, it’s easy to fade out if you’re not consistent.

This is why companies keep on developing marketing strategies that are up-to-date. This helps in maintaining the connection with customers.

Marketing starts by understanding customers and the current market. By studying the marketing, the competitors and the needs and wants of customers, one can collect a lot of valuable information that can be used to develop the right product. This also helps in devising proper promotional and advertising strategies targeted at the right audience.