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Marketing: What Is It and Why Do Companies Need It?

You can think of marketing as everything you do to promote your business to get customers to purchase a good or service from you. The basis of marketing is understanding your target market, creating offers, and designing appealing experiences inspire customer loyalty.

Because it’s continuously trying to understand its customer base, marketing most often focuses on the study of consumer and market behavior. The purpose is to analyze how a business can attract, acquire, and keep customers by satisfying their wants and needs. Once marketers understand what those wants and needs, they can develop a range of marketing activities, such as publicity, advertising, building a social media presence, relationship building, merchandising, and securing distribution channels.

Why do companies need marketing?
To gain customers and increase sales, you need marketing. Marketing is considering every step of delivering a product or service to a customer. The marketing mix includes:

A marketing strategy is specific to the needs of the product or service and the target audience. A good marketing strategy will help you with the following:

2. Engage consumers.
The idea of marketing is to be memorable to consumers after a transaction. You cultivate relationships with the people who have interacted with your business to turn first-time customers into long-term customers to sustain your business.

An excellent place to start is social media. Social media followers are more likely to look at a brand’s website or app after following the brand for some time. Social media marketing lets you keep in touch with your clients by retargeting them after purchases and views with social media posts or stories.

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