Patricia Baronowski-Schneider
Pristine Advisers
New York, NY
Patricia is CEO of Pristine Advisers, an IR/PR/Media Relations/Marketing firm with 33 years of experience working her way to starting her own Company a decade ago. She can be reached at pbaronowski@pristineadvisers.com
What’s the first thought that comes to mind when you hear the term “marketing?” If you’re like most people, you think of a lot of different things because marketing encompasses a wide range of activities.
No matter how you define it, however, the bottom line is that marketing is a crucial component of business success. While marketing isn’t the “sale,” the sale is the result of marketing. Additionally, marketing helps determine and create consumer need.
But there’s so much more regarding marketing – from advertising to product design to customer research – and what it means for your business and its success.
What is a Marketing Strategy for Business?
Your marketing strategy provides a roadmap that guides you toward your goals and objectives. It also helps determine the need for a product through consumer research; it includes modifying existing products or creating new ones to meet consumer wants and needs; it helps determine the best ways to reach potential customers, and it strengthens customer relationships based on loyalty programs and follow-up sales campaigns.
Why is Marketing Strategy Important to Businesses?
Customers are everything and marketing enables businesses to reach potential customers through awareness while maximizing sales and profitability.
- Marketing informs
- Marketing helps you understand your customer
- Marketing enables businesses to engage with customers
- Marketing helps you to build your brand
- Marketing boost sales
Marketing lets current and potential customers know about the products and services a company offers. It informs
them about the core value of a product while providing additional details that are important to them.
Market research is vital and helps businesses to identify a target market and then to position the product
accordingly.
Through marketing, you provide customers with relevant information about your business and keep them updated
about new products and services.
Your brand’s reputation is everything. Marketing helps you to maintain a good reputation in the marketplace
through various mediumssass, including digital platforms.
Last, but certainly not least, marketing enables you to increase sales through the various ways you promote the product or service. Whether promotion occurs through social media, direct marketing, mainstream media, your company’s website, or other channels, it’s crucial for attracting a persuading people to purchase the product.
In short, marketing for business comes in many forms: research, advertising, public relations, customer support, promotion, digital marketing, and more. A sound marketing strategy stimulates growth, customer satisfaction and, ultimately, sales.