Importance of Marketing
An explanation of the importance of marketing to your selected organization’s success Marketing is a very important aspect in business since it contributes greatly to the success of the organization. Production and distribution depend largely on marketing. These two concepts are different in many aspects.
Marketing covers advertising, promotions, public relations, and sales. It is the process of introducing and promoting the product or service into the market and encourages sales from the buying public.
The goal of marketing is to make our product, Mango Power widely known and recognized to the market, marketers must be creative in their marketing activities. In this competitive nature of many businesses, getting Mango Power noticed is not that easy. Strategically, Pepsico must be centered on the customers more than the Mango Power products. Although good and quality products are also essential, the buying public still has their personal preferences. We will need to target more of their needs, they will come back again and again and even bring along recruits.
If we push more on the product and disregard their wants and the benefits they can get, we will lose our customers in no time. The hardest part is getting them back. The only means to be made known is to advertise and promote. Pepsico may be spending on the advertising and promotional programs but the important thing is that Mango Power and Pepsico information is disseminated to the buying public. Offline and online marketing make it possible for the people to be educated with the various products and services that they can take advantage of.
Pepsico must invest in marketing so as not to miss the opportunity of being discovered. If expense is to be considered, there are cost-effective marketing techniques Pepsico can embark on such as pay-per-click ads and blogging. Marketing helps boost sales and revenue growth. It will generate sales once the public learns about your Mango Power through TV advertisements, radio commercials, newspaper ads, online ads, and other forms of marketing. The more people hear and see more of our advertisements, the more they will be interested to buy.
Pepsico aims to increase the sales percentage and double the production, the marketing department must be able to come up with effective and strategic marketing plans. Pepsico and Mango Power must have the ability to conquer the general market, marketers aim to create a brand name recognition or product recall. This is a technique for the consumers to easily associate the brand name with the images, logo, or caption that they hear and see in the advertisements.
For example, McDonalds is known for its arch design which attracts people and identifies the image as McDonalds. For some companies, building a reputation to the public may take time but there are those who easily attract the people. With an established name in the industry, a business continues to grow and expand because more and more customers will purchase the products or take advantage of the services from a reputable company. In conclusion, marketing plays a very essential role in the success of a company.
It educates people on the latest market trends, helps boost a company’s sales and profit, and develops company reputation. But marketers must be creative and wise enough to promote their products with the proper marketing tactics. Although marketing is important, if it is not conducted and researched well, the company might just be wasting on expenses and time on a failed marketing approach. References: Exforsys Inc. ,Published on: 6th Nov 2009 Last Updated on: 4th Jan 2011 PEPSICO 2010 Full Annual Report