Marketing is defined as the art of creating an urgent desire in the subconscious minds of the customer which further creates an eagerness to buy that particular product or service in the near future. In the field of marketing, we are selling about the ideas or what they can exactly do by using our product or service. Marketing helps to showcase our products or services to our fellow customers/subscribers in a particular manner. 

In one line if we say what is marketing exactly, it is the method of showcasing our skill set or a product or service in front of others.

Importance of Marketing

When it comes to business marketing plays a very crucial role in creating awareness about your products or services to fellow customers. Marketing plays a very crucial role in your business due to the following reasons:

1 Marketing helps to increase your customer engagement: Customer Engagement towards your business plays a very crucial role in increasing the sale of your product or service. This only happens only when you have a strong brand engagement with your fellow customers.

2 Marketing helps to increase your sale: If no one knows your product or service then nobody will buy it. Sales are the most important part of any business, without them, there will be no revenue as well as no profit. Therefore in order to increase your sale also marketing plays a very crucial role as well as in your overall branding needs.

3 Marketing improves your brand trust as well as brand visibility:  Brand Trust as well as Brand Visibility are among the two important factors which play a very crucial role in your marketing life. As in Hindi, we say “Jo Dikhta h wohi bikta h”. Therefore in a similar way, we need to increase our brand visibility as well as brand trust.

4 It enhances your brand reputation:  When it comes to the brand value of a particular business or the customer engagement of a particular brand. The brand reputation plays a key role in enhancing its overall features. Brand reputation also plays an important role in bringing new customers to your business.

5 Marketing helps to segment your targeted market: When you are trying to segment your product or service you first need to segment your targeted market in accordance with your existing product or service. The more the customer data, as well as the insights, is segmented the higher will be the chances of conversion.

6 Marketing helps to build a strong relationship between the companies and the consumers: A good product with less marketing is always better than a shitty product with good marketing. This is one of the most important fundamentals of building a great business. Therefore the product which you are creating should exactly meet the demands of the customer. Then only your business will grow. In order to do this, you need to do strong market research.

Scope of Marketing

Marketing has a very huge scope not only in the field of business but almost in every sphere of life like politics, job-hunting,  

The scope of marketing also depends upon the following factors like the type of products and services, market research,  channels of distribution, physical distribution, promotional decisions, pricing decisions, environmental analysis, and feedback from fellow customers.

While some of the other important factors which play a very crucial role in marketing like consumer needs and wants, consumer behaviour, product planning, development, pricing policies, distribution, promotion and most importantly consumer satisfaction. 

All the 4P in Marketing

Marketing holds the following pillars of growth. The following are the four pillars of marketing product, price, place and promotion.

1 Product: A product or service is one of the most important part of marketing that needs to be sold to a particular customer or a particular segment of the market.

2 Price: A price is a value that a customer pays to the business owner in the exchange of particular goods or services.

3 Place: A place is an exact area or the territory where the product is going to be marketed.

4 Promotion: Promotion or marketing is the way by which you can market your product or service to your fellow customers very efficiently as well as smartly.

I hope that this article has might added some value in your life as well as your career. Thank you for reading.