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Fundamentally, Financial success of any business depends on marketing ability Finance, Operations, Accounting and other business functions may not effective if there is no sufficient demand for product and Services Marketing Managers must decide about the Marketing Mix of every product (product, price, placement, promotion) All Multinational and global firms pay special attention to their marketing departments.
Marketing is so important for businesses it have an effective role to increase your profitability of your businesses and make your results greater than your current results , and also make your brand more strong and knowen between all .
Marketing has become sensitive important science in the economically developed countries in order to identify the needs and desires of consumers and to try to satisfy them, is no longer the success of businesses depends on the engineering aspects and inventions have these aspects have reached a high degree in the developed country.
But that the success of these projects depends on solving marketing problems and distribution of products and satisfy the desires of consumers and the same applies to developing countries realize the importance of the study and application of various marketing concepts for the developed countries, the growth depends on the ability of those countries to develop processed or equipped goods regulations, the distribution of the effectiveness of the marketing of its of raw commodities resources semifinished in their local markets or foreign markets and even in the public sector, there has been interest in the application of the various concepts and ideas marketing to support the national economy and in the socialist countries became interested in marketing in order to help the local distribution systems and to compete effectively and efficiently in international markets.
But in Jordan, there are no concrete indications that industrial projects recognizes the importance of adopting modern marketing concept and as we pointed out above, it can be summed up the reasons for interest in marketing and for the following reasons:
First, that marketing works to satisfy the desires of consumers with the best possible efficiency Like all productive activity, marketing is to achieve the following benefits (and if so was the cost of production) benefit spatial -almnfh temporal - possessory benefit - ownership, contact information, benefit formalism.
Secondly, marketing is important because the cost of up to about 50% of the value paid by consumers for goods and services and if so was the cost of production is almost equivalent to the cost of marketing deserve the same care that is given to the study of production.
Third: Marketing is working to discover the needs and desires of a new and exciting old and satisfy them.
Fourth, and we see the importance of marketing and business point of where he works on the success of projects and expansion of high production efficiency and achieve profits.
Fifth: the importance of marketing also appear in the national economy and can infer the importance of this activity by looking at the number of workers in the trade sector, wholesale and retail, we will find this activity a noticeable part of our national economy.
Sixth: The importance of marketing activity through the role played by the retail and wholesale trade sector in the economic development of the State plan.
Seventh: The increased interest in marketing activity from the consumer's perspective because this activity is working on consumer protection and by identifying the prices of the goods received.
Eighth: marketing activities contribute to raising the living members of the community level to get them to the degree of luxury.
- Spatial benefit: by providing products for the consumer from the places of production to places of consumption and made available to the consumer in the right place.
- Temporal benefit: by providing consumer products at the right time and who wishes to buy a product and then store the production of end time to time it is needed.
- Possessory benefit: by transferring ownership of the goods from the producer to the buyer.
- Benefit formality: the psychological state of the consumer to the product.
It is the importance of marketing as it is considered a link between the project management and the community in which it operates, and so can the success of the marketing activity for the project from the continuation and prosperity as it well could achieve the final price of the product, through the achievement of the costs of marketing activities which contributes to effective counter about competitors.
The importance of marketing are derived from the real objectives sought to be achieved so that multiple marketing objectives and vary not only multiple and different organizations in terms of activity and size, geographical location, the technological level ... and others depending on the role of business life Businesslifecycle at the level of the national economy on the one hand and at the corporate level of the period the other in spite of pluralism and diversity in marketing for the reasons mentioned objectives in advance only that certain targets alone seeks marketing to achieve in general in any organization and even agreed upon by practitioners in the field of marketing activity, as well as researchers and writers from among these goals:
A / predict the wishes and needs of the members of the community and make the necessary activities to achieve or satisfy those associated with a particular service needs.
B / a high level of consumer or customer satisfaction.
C / maintain the competitive position of the organization's development.
D / expand the organization's share in the market or industry sales and this share is measured as follows:
E / achieve a certain number of the profits arising from the sale process, since a man is a marketing engineer basic task generate gains and profits from the sales.
And objectives that the Foundation seeks to achieve are already lined up, because the results that the project is considered as a marketing objectives which form the basis for the management of marketing and can be inserted into these circumstances targets three main objectives:
* Profit target: the intended gain or profit is the difference between the percentage of the costs and expenses of production and revenue from the sale and there are two bases placed on the basis of which the goals of profitability in general are:
* The amount of profit * Percentage of Finance: so long as the one main purposes to do the work of the company is to make a profit and remain linked to the sales and the amount of demand in the market size, which is the main goal of marketing is generally in the economic institutions of any investigation fair profit by meeting the needs of consumers.
* Growth goal: The goal of the organization often have a greater impact on marketing goals as all companies seeking to expand and grow.
I will try to explain the importance of marketing in the context of profit seeking organizations where shareholders wealth maximization is the prime objective.
Marketing is all about searching for customers and inducing them (advertising, promotion, distribution, after sale services, etc) to buy the offerings. More precisely, creating demand and making sales is marketing.
Perhaps, among others, establishing customer awareness and loyalty is the most important elements of marketing.
If potential customers are not aware of entity's offerings, there will be no demand.
If customers do not understand how the entity's offerings differentiate from rivals', they would be indifferent in buying from entity and rivals. Again, there will be reduced demand.
Reduced demand level will affect sales, deteriorate profits which in turn will prevent the achievement of the prime objective.
(Marketing is not my core speciality, therefore, insufficiency / inaccuracy may be ignored.)
- creating awareness of the product in public
- understaning your consumer
- clinching sales.
All the answers above are very suffecient especially Mr, Georgei Assi's one.
.For a company to grow, it must build strong customer relationships , When people know your business exists, they’re much more likely to become your customers. If your marketing campaigns are doing their job properly, you’ll start to see an increase in sales shortly after you get started
“ No sales, no company.” – Mark Cuban
Importance of marketing can be studied as follows:
(1) Marketing Helps in Transfer, Exchange and Movement of Goods:
Marketing is very helpful in transfer, exchange and movement of goods. Goods and services are made available to customers through various intermediaries’ viz., wholesalers and retailers etc. Marketing is helpful to both producers and consumers.
(2) Marketing Is Helpful In Raising And Maintaining The Standard Of Living Of The Community:
Marketing is above all the giving of a standard of living to the community. Paul Mazur states, “Marketing is the delivery of standard of living”. Professor Malcolm McNair has further added that “Marketing is the creation and delivery of standard of living to the society”.
By making available the uninterrupted supply of goods and services to consumers at a reasonable price, marketing has played an important role in raising and maintaining living standards of the community. Community comprises of three classes of people i.e., rich, middle and poor. Everything which is used by these different classes of people is supplied by marketing.
(3) Marketing Creates Employment:
The major marketing functions are buying, selling, financing, transport, warehousing, risk bearing and standardization, etc. In each such function different activities are performed by a large number of individuals and bodies.
Thus, marketing gives employment to many people.
(4) Marketing as a Source of Income and Revenue:
The performance of marketing function is all important, because it is the only way through which the concern could generate revenue or income and bring in profits.
However, someone must actually go into the market place and obtain dollars from society in order to sustain the activities of the company, because without these funds the organisation will perish.”
Marketing should be given the greatest importance, since the very survival of the firm depends on the effectiveness of the marketing function.
(5) Marketing Acts as a Basis for Making Decisions:
producers are depending largely on the mechanism of marketing, to decide what to produce and sell. With the help of marketing techniques a producer can regulate his production accordingly.
(6) Marketing Acts as a Source of New Ideas:
Marketing as an instrument of measurement, gives scope for understanding new demand pattern and thereby produce and make available the goods accordingly.
(7) Marketing Is Helpful In Development Of An Economy:
Adam Smith has remarked that “nothing happens in our country until somebody sells something”. The marketing organisation, more scientifically organized, makes the economy strong and stable, the lesser the stress on the marketing function, the weaker will be the economy.
The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.
If you are selling some product/service and people are not aware of it, then you are ideally selling nothing. To create that demand and to understand the customer's requirements to match up with the products/services you offer is the essence of marketing.
