Advantages and Disadvantages of Marketing
Advantages and Disadvantages of Marketing
By
Adrian
“Marketing” is defined by Wikipedia as “the process by which companies create customer interest in goods or services… through which companies build strong customer relationships and creates value for their customers and for themselves.”
Start with a marketing plan – identifying the customer and their needs and wants. Since the essence of business is fulfilling a need it is an important to know which need you are trying to fulfil. Then you need to know how best to reach those customers who have that need.
There are many different marketing mediums and working out which is best for your business is essential, both to keep costs down and to get the most back from your marketing campaign.
There are differing advantages and disadvantages of marketing depending on your chosen medium. But there are also general advantages and disadvantages of marketing across every spectrum.
General Advantages of Marketing
An obvious advantage of marketing is the promotion of your business; getting the recognition and attention of your target audience across a wide ranging or specific market.
Going hand-in-hand with this is the enhanced brand recognition. Over time potential customers and members of the public will begin to associate your logo and your brand with your business.
Every business needs to ‘spend money to make money’. Investing in marketing is no different. The most important advantage of marketing is therefore quite simply improving the businesses profits by boosting sales.
General Disadvantages of Marketing
The first disadvantage of marketing in general is the cost. Adverting and marketing costs money. If you don’t do the proper research then you might end up throwing money away. Wasting marketing efforts by targeting the wrong audience using an inappropriate medium would be a serious and costly mistake. So it is important to do your research beforehand and keep your costs to a minimum.
As well as the financial cost,
By
Adrian
“Marketing” is defined by Wikipedia as “the process by which companies create customer interest in goods or services… through which companies build strong customer relationships and creates value for their customers and for themselves.”
Start with a marketing plan – identifying the customer and their needs and wants. Since the essence of business is fulfilling a need it is an important to know which need you are trying to fulfil. Then you need to know how best to reach those customers who have that need.
There are many different marketing mediums and working out which is best for your business is essential, both to keep costs down and to get the most back from your marketing campaign.
There are differing advantages and disadvantages of marketing depending on your chosen medium. But there are also general advantages and disadvantages of marketing across every spectrum.
General Advantages of Marketing
An obvious advantage of marketing is the promotion of your business; getting the recognition and attention of your target audience across a wide ranging or specific market.
Going hand-in-hand with this is the enhanced brand recognition. Over time potential customers and members of the public will begin to associate your logo and your brand with your business.
Every business needs to ‘spend money to make money’. Investing in marketing is no different. The most important advantage of marketing is therefore quite simply improving the businesses profits by boosting sales.
General Disadvantages of Marketing
The first disadvantage of marketing in general is the cost. Adverting and marketing costs money. If you don’t do the proper research then you might end up throwing money away. Wasting marketing efforts by targeting the wrong audience using an inappropriate medium would be a serious and costly mistake. So it is important to do your research beforehand and keep your costs to a minimum.
As well as the financial cost,