Are Marketing and Advertising Necessary? Helpful Facts

Marketing and advertising are two terms commonly used in the business world. Are marketing and advertising necessary for your business? If yes, what is the reason? Let’s take a deeper look.

Are marketing and advertising necessary?

Marketing and advertising are necessary for any business to grow and prosper. Marketing is an ongoing process that ensures that your product is appealing to the customers. Advertising is a subset of marketing that creates awareness through paid promotions. The end goal of both is to generate sales and growth.

Businesses flourish when the right marketing strategies are applied. Marketing strategies also include advertisement strategies. This article will discuss marketing, advertising, their goals, and their role in business.

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Explanation of are marketing and advertising necessary

Before going into the details of “are marketing and advertising necessary,” let us repeat a few lines:

Marketing and advertising are necessary for any business to grow and prosper. Marketing is an ongoing process that ensures that your product is appealing to the customers. Advertising is a subset of marketing that creates awareness through paid promotions. The end goal of both is to generate sales and growth.

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Are Marketing and Advertising Necessary?

Break down:

We can notice four main reasons why marketing and advertising are necessary.

  1. Business Growth and prosperity
  2. Customer appeal
  3. Creating awareness through paid promotions
  4. Sales generation

We will cover all these topics in the following section. First, we would clarify the concept of marketing and advertising briefly.

What is marketing?

Marketing is a function that involves all the activities that promote buying and selling of the product and service. It also considers the needs of customers, their buying power, their demands, their satisfaction, and their accessibility. Furthermore, marketing includes all those factors that make a person buy the product or service.

Marketing ensures that the product is appealing to consumers.To make the product tempting, a marketing mix is used to help the marketing process’s overall functioning.

Marketing mix

The marketing mix uses the four Ps. These four P’s are:

Product: The first P, “Product,” engages with the needs of consumers and how a product can fulfill those needs. What is the gap in the market? Design a product that fills the gap. A suitable product is designed to meet the needs of customers.

Price: The second P “price” defines the competitive price. Determine a price according to the target audience. The price is high if the target market is the elite class. If the target is the masses, a competitive price is decided, so people can easily purchase.

Place: Place is another vital factor in the marketing mix. Where should the outlet be? A prime location is always advantageous. What are other outlets open nearby? Consider all these factors and decide on a place to sell your product. Nowadays, an online store is another outlet that has its challenges.

Promotion: The fourth P, “promotion,” is usually considered the whole marketing process. It is misunderstood that promoting a product is equivalent to marketing a product. Marketing and promoting are two different things. Promotion is a subset of marketing.

Once the first three Ps are decided, promotion comes last. It helps spread awareness about the product and service and attracts consumers through multiple strategies. One of the strategies is advertising. Another misconception is promotion is equivalent to advertising. However, you can promote a product in multiple ways, not just advertising.

Create Customer Appeal

Marketing is necessary if you want your product to appeal to the target audience. Marketing ensures that the product meets the demands and needs of a consumer. When the product fulfills the needs of consumers, they tend to make a purchase. Marketing also considers the price factor. The pricing is usually competitive.

Your competitor will also have the same kind of product and price. The outlets might as well be nearby. The question is, why would the buyer purchase your product?

You have created an interest in your product. The customers are tempted to buy it, but they need a push. What makes your product stand out is your promotion. Promotion can make or break a deal. The most common and major part of the promotion strategy is advertising.

What is advertising?

Advertising is a promotion strategy. Businesses commonly use it to create awareness and interest in the product or service. When buyers are aware and interested, they make purchases. As a result, the company reaps profits. Higher the sales, the higher the profits.

Advertising means paying different sources to buy space and display your advertisement. Ads are the short form of advertisements. Advertisments are paid promotions. They influence consumers to buy the product or service. At least tries to influence the sales decision.

Advertising helps in generating sales. It is a useful tool in increasing demand. Advertisement reaches the masses. When more people watch the advertisement, there are more chances of sales. Advertisements can be of various types. To know more about advertisements, read our article How Advertising Increase Sales?

Goals of marketing and advertising

We have discussed marketing and advertising and how they help make a product, create awareness, and tempt consumers. A major question arises: what are marketing and advertising goals?

Marketing has multiple goals. Some of them are increasing awareness about the product, acquiring new customers, generating high-quality leads, retaining customers, providing customer satisfaction, and increasing revenue.

All the goals mentioned above lead to increased revenue, as any business’s ultimate goal until and unless it is a non-profit organization. Anyone who starts a business; invests their time and energy wants something in return. Revenue is the return of time and effort for every business.

Besides generating revenue, marketing has other goals. It should acquire new customers and retain them. Retaining customers is a big deal. It is achieved by providing a satisfying experience. A happy customer is likelier to make a repeat purchase than an unhappy one.

On the other hand, the goal of advertising is pretty straightforward. Tell everyone about the product, entice customers’ interest and create awareness. The ultimate goal after creating awareness is that the consumers make a purchase. Making an impact on the sales decision of consumers is crucial.

A successful advertising strategy impacts the customer’s sales decision. Will the customer buy again or not? It depends on the marketing of the product. Therefore, customer retention is a marketing goal. If the product satisfies the buyer’s needs, they will buy it again. If their expectations are not met, they won’t buy again, no matter how creative the advertisements are.

Marketing and advertising are necessary for sales, revenue generation, and customer retention. Both need to work hand-in-hand to make a business flourish. Hence, the end goal of advertising and marketing is the same: generating sales.

Business growth and prosperity

Marketing and advertising are necessary for organizations unless you want your business to be stagnant. Businesses use different marketing strategies to grow and promote products. With the promotion of products and services, sales also increase. Increased sales translate into a prosperous business.

Marketing ensures the satisfaction of customers, so they become regular clients. Every customer retained means more sales. Businesses make sure that they stay relevant and updated. Organizations can know about customers’ needs from their loyal clients. Companies can fulfill the consumer’s demands when they know about their needs.

Advertising proves extremely helpful in boosting sales. Advertisement help acquires new consumers and creates awareness. Furthermore, ads attract more traffic to a website. Since most businesses have an online presence, more traffic means more sales. With the help of search engine ads and social media posts, customers are directed toward the website.

Marketing and advertising both work for business growth and flourishment. Marketing and advertising spread business to target audiences and attract their attention. Create interest in the product and influence their buying decision. Hence, work hand-in-hand for customer satisfaction and retention. Additionally, provide after-sales support and help if needed to win loyalty.

A loyal client translates into a repetitive purchase which means increased sales. Furthermore, increased sales translate into increased revenue which means business growth and prosperity.

How do marketing and advertising help businesses?

Marketing and advertising have become digital with the advancements in technology. Everything is shifted to digital media. Marketing has also moved to online media. Therefore, it helps businesses move with changing times. It also helps companies to stay relevant to the updated trends.

Marketing keeps organizations relevant so they don’t miss out on ongoing trends. Relevant businesses connect with customers. Hence, customers tend to buy from companies that connect with them. Advertising fills the gap in trends and connectivity. Ads show the latest trends that attract the population more.

When more population is attracted to a product, the chances of sales increase and ads become a source and tool to boost sales for companies. Furthermore, marketing works on developing a brand and creating a meaningful image in customers’ minds. It creates a strong brand value, and people become loyal to the brands. Brand value helps businesses in growth and expansion.

Conclusion:

Marketing and advertising are usually used interchangeably. The fact is these are two different concepts, related but different. Are marketing and advertising necessary? Absolutely yes, these two functions are necessary for business.

Marketing and advertising are necessary for any business to grow and prosper. Marketing is an ongoing process that ensures that your product is appealing to the customers. Advertising is a subset of marketing that creates awareness through paid promotions. The end goal of both is to generate sales and growth.

Marketing helps identify the customer’s need and design a product according to that need. Furthermore, set the competitive price, determine the selling place, and give the best shot to promote that product. Advertising is a major factor in promoting a product by buying media to show ads. Consequently, it creates awareness and attraction regarding the product.

Customers tend to make purchases more when they are aware of the product. Marketing and advertising aim to generate sales and growth for the business.

Writer: Iqra Shaikh