Importance Of Marketing And Need For Marketing Evaluation
Marketing is an essential component of every business but what exactly is marketing and what is its importance for the success of a business? Many entrepreneurs confuse marketing as the activities undertaken by a business to sell its products or services but marketing is more than that.
Marketing comprises a set of processes undertaken to understand the target audience better (via market research) while developing a valuable offer (via a marketing plan) to communicate and deliver value to satisfy the customer’s needs, and desires while making a profit. In simpler words, marketing is the process of meeting the customer’s needs at a profit.