It is believed that marketing and promotion are the crucial factors to run a business successfully. I believe that although marketing strategies play a significant role in a business, it is not wise to rely on marketing and promotions only.
Undoubtedly, marketing is of paramount importance for businesses to compete in this modern era. To put it in other words, companies need to advertise their products to survive in a highly competitive market. To illustrate, if a company will refrain from marketing, it is highly likely that rival companies will make use of this opportunity to increase its sales, which is the reason that even big brands like Apple and Coke pour billions of dollars into marketing without getting complacent.
Moreover, promotion helps businesses to create brand awareness. As companies have to make their presence felt in the market, promotional events or programs play a major part in building a brand. For example, numerous Chinese phone companies have increased their brand value globally through large scale promotional programs.
That is not to say that marketing and promotion can solely make a business successful. A company cannot underestimate the power of other factors, such as quality of service, customer satisfaction, and innovation, because there have been many instances when businesses made a mark through aggressive marketing but disappeared overnight as these factors were underestimated. Mobile companies such as Blackberry and Nokia are the perfect examples.
To conclude, even though marketing and promotion are important to survive and create a brand name in the competitive market, the importance of other factors cannot be ruled out to run a profitable business.
It
is believed
that
marketing
and promotion are the crucial
factors
to run a
business
successfully
. I believe that although
marketing
strategies play a significant role in a
business
, it is not wise to rely on
marketing
and promotions
only
.
Undoubtedly
,
marketing
is of paramount importance for
businesses
to compete in this modern era. To put it
in other words
,
companies
need to advertise their products to survive in a
highly
competitive market. To illustrate, if a
company
will refrain from
marketing
, it is
highly
likely that rival
companies
will
make
use
of this opportunity to increase its sales, which is the reason that even
big
brands
like Apple and Coke pour billions of dollars into
marketing
without getting complacent.
Moreover
, promotion
helps
businesses
to create
brand
awareness. As
companies
have to
make
their presence felt in the market, promotional
events
or programs play a major part in building a
brand
.
For example
, numerous Chinese phone
companies
have increased their
brand
value globally through large scale promotional programs.
That is
not to say that
marketing
and promotion can
solely
make
a
business
successful. A
company
cannot underestimate the power of other
factors
, such as quality of service, customer satisfaction, and innovation,
because
there have been
many
instances when
businesses
made a mark through aggressive
marketing
but
disappeared overnight as these
factors
were underestimated
. Mobile
companies
such as Blackberry and Nokia are the perfect examples.
To conclude
,
even though
marketing
and promotion are
important
to survive and create a
brand
name in the competitive market, the importance of other
factors
cannot
be ruled
out to run a profitable
business
.