Marketing: A core function of the business

These days, the modern era, there is highly competitive environment where none of the business institutions can ignore the importance of marketing whether they are in small business or an international level business. The success of every business relies heavily upon the marketing efforts that an entrepreneur does along with other supporting activities. Financial position of an organization can be determined by its marketing efforts because the organization that has strong marketing compatibility has strong financial position courtesy to high sales volume.

But the question is how the marketing makes an organization a financially stronger one?

 The answer to this question is very simple. if a company is doing great job in its production department and they are producing quality products having all what a customer needs. But they cannot make the company profitable until unless these products are sold to the final consumers. Products reach to the customers only through the effective marketing such as right branding, right pricing, right distributions and right promotion. Thus the result is high sales and a financially stronger organization.

Let us have a look an example, Suppose an organization is manufacturing mobile phones. They have highly talented R&D and production function. Products are being developed and manufactured in accordance with customer needs. But this is not the end, customers will not buy these quality mobile phones until they are informed about them as well as made available to them when, where and at which price they want them to be. This is where marketing will come into play by first making the product available in the markets at the right prices and then informing the customers using various promotional tools such as advertisement, personal selling and direct marketing.

Authors: Naveed Ahmed, Raja Ahmed Jamil