Question

Marketing is essential for the success of a business organisation. Give five reasons to support your answer.

Answer 1

Marketing is essential for the success of a business organisation.

The reasons behind the statement are as follows:

1. Creating demand: Marketing enables the firm to determine what the customers want and then to design the product according.
2. Providing Consumer Satisfaction: Marketing effectively considers the product's pricing, transportation, warehousing, and distribution channels.
3. Co-ordination: Marketing establishes co-ordinates with other managerial departments.
4. Profit maximisation: Marketing aims to maximize profit through consumers' satisfaction. It is the only way for the firm to generate revenue and profits.
5. Goodwill: Marketing seeks to build the enterprise's reputation over time. The firm aims to establish a strong market presence by offering high-quality items at affordable costs and providing excellent after-sales support.