What Is The Importance Of Marketing?

Marketing is important for the following reasons:
1. Creating a brand: It is through marketing efforts that you make people aware about your existence. Through marketing only you can create a brand perception in the minds of consumers and create awareness about your products.
2. Product development: You come to know about your market segment through marketing activities. Determining a target market is a very critical aspect of product development. Only when you know the audience to which you have to cater to can you develop a product that satisfies their needs.
3. Communication and building relations: It is the marketing team that communicates your brand message to the target audience and also about your product offering. It is their efforts that help you build long term relations between the consumer and the brand.
4. Maintain company reputation: The marketing team maintains the reputation of a company through various media.
5. Tackle competition: By finding the Point of Differentiation, they help you to gain an edge over your competitors. The product development team then works to provide this as their product differentiation.