It is a fact that even today, many companies still try to understand the importance of Marketing and the reasons behind this philosophy. According to Philip Kotler Marketing is “Satisfying needs and wants through an exchange process’.
In the past, Traditional Marketing accepted philosophy was the customers to visit the seller’s shop and buy. Nowadays, this process is reversed mainly due to the improvement of electronic communication and the power of the internet. What it works today, and it is the new and modern Marketing philosophy is taking “your business” to your customers. Therefore your customers can be informed for your business at any time, no matter where they are. The good thing about it, is that they can buy your products and services instantly and you get paid instantly too. New and advance technology provides with more tools for better and more targeted sales (groups of people with the same characteristics and interests) which leads to better sales and henceforth profits for the company.
Marketing is more important today because …
- There are more Products/Services available than before (More Suppliers offering similar products/Services to a specific market)
- Products and Services can be found in more Places that previous years
- Companies spend more in Advertising and Promotion than before
- Competition drives Products/Services in Low Pricing Strategies
- There is Stronger Competition than before
- Of Advance Technology
While thanking you for your time and interest, I remain yours,