Week 3 - Role of Marketing and Its Value

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Marketing can be a very helpful tool for a small business or a large company. It can help you stand out and create a successful business. It builds brand awareness, increases sales, and engages customers. However, the type of marketing strategy is really important if you want to be successful. A business has to find the right marketing formula that works for them. If they find the right one then the business could grow to newer heights.

















In the video for week 3, the narrator says that there are three distinct areas where you need to be successful if you want to grow your business. The first area of marketing and growth a business should focus on is demand generation and it’s the process in which a company increases demand for its product. They can sponsor events and just try to make people aware of their business and demand their products or services. The second area of marketing and growth a business should focus is sales conversion. It’s the process in which a customer goes through to actually buy a product or service. That process must be smooth and easy so a customer can have a good buying experience. The third area of marketing and growth a business should focus on is consumer success. Consumer success is making a customer feel so excited about their experience with your business that they go and tell people about your company. In other words, you should make their experience as a customer so great that they buy from you again and tell everyone they know. If a business is successful in these three areas then they surely will experience growth.










I found an article that lists a few reasons why marketing is so important and useful for a business. I will list some of the reasons I thought were the most important. First, marketing allows businesses to educate and inform potential customers about their product and what it does. If a customer knows what a product does and how it works, they might feel more comfortable buying it. Next, marketing allows businesses to be on a level playing field because social media and other platforms are accessible to everyone. All businesses no matter how big or small can be successful with marketing. Lastly, marketing helps a customer feel wanted and engaged when they have left your store or business. It gives that customer a sense of importance and builds a relationship. The customer feels so great from your constant engagement and marketing that they will keep coming back and maybe bring other customers with them. Marketing is the tool to use to keep your business vibrant and successful. No other tool can be more useful and that is why it’s so important. 

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