Marketing is the process by which goods and services flow from the producer to the consumer through the market by creating awareness of their availability, setting price and offering them to the market for the consumer.
Marketing concentrates on the knowledge of the goods and services to offer in the market, weaknesses and abilities of the producer, external competitions from other manufactures and which loop holes in the market that that the producer.
People responsible of marketing will ensure that thy have the full knowledge of the market structure, all competitors they are competing with, their strengths and weakness or any other business opportunity in the market so as they can out win their competitors and appear more revealing to the consumers.The whole marketing process involves sales, advertisements of goods availability and their advantage over the others and well laid strategies that equip company with the ability to shine than the others in the market.
There are many types of marketing: relationship marketing, and scarcity marketing where producers might control the amount of products in the markets, word of mouth marketing or oral where information is passed by people, transactional marketing where producers might decide customers to buy and get free goods, coupons after sales services and mass marketing where producers aims at driving large sales.
It increase fame of a product that has been or new in the market.
A frequently advertised product will have more people knowing it and talking of it than that which hasn’t been advertise.
Through marketing, company improves its trust to the people and this increases their trust to the consumers and their goods will be preferred first as their record is clean for offering the best.
Advertisements showcases the ability and power of what a company can do on its best, which gives its power on the market as its sought to be the best.
The more the products are known in the market, the more they are bought and the more profit the producer earns and this familiarity can only be increased through marketing.
Marketing identifies customer needs and wants and this is the main reason for opening any business; to satisfy needs and wants of the customers. This makes it vital to do marketing in order to understand the state of the market.
Information provided through marketing gives business power to stay providing goods and services.
Marketing is not only beneficial to the customer but also to the producer as he or she gets time and platform to showcase their prowess to their customer. This gives them power to proof to their customers how best they are and through this trust is created and a stronger bond between the consumer and producer.
Apart from companies advantage, advertisements gives customers ability to express their feelings toward certain products being marketed and the producer should formulate whatever the consumers are saying if they want to continue being relevant in the market.