Table of contents
Importance of marketing to business3
Marketing has become more and more important, especially as the purposes of marketing expanded into performing marketing researches. Through marketing researches, it is asserted that marketing starts with a real customer need. Classic marketing, has, nonetheless, focused on making the need that will draw customers, and this stresses the advertising power of marketing (Woodall 2007, p.1284). This is also called the sales concept of marketing (Woodall 2007, p.1285). An example is how advertising lures people into buying a brand, because of the psychological connections it makes with customers or because of the features of the product (Morgan 1996, p.20). This paper discusses the importance of marketing to business.
Importance of marketing to business
Michael Baker suggested the notion of the new marketing, or the “real marketing” which has four essential characteristics: “1. Starts with a customer. 2. A long-run perspective, 3. Full use of company’s resources, and 5.Innovation” (Mercer 1996, 14). Marketing then is important in making the company focus on the customers, helps provide a long-term relationship with customers, assists in optimizing resources, and drives innovation. Marketing has become a strategic part of doing business, which is more than being related to selling, but ensuring that products and services are customer-centered (Hayden 2008, from Morgan 1996, p.20).
The first benefit of marketing to business is focusing on the customers and satisfying them. Marketing had been normally seen to have the “primary goal” of creating satisfied customers (Witkowski 2005, from Morgan 1996, p.20). Indeed, it is asserted that for the business to be successful, marketing should connect “all its thinking to the customer’s needs” (Felton 1959, from...