Mention five roles that marketing and advertising play in an organisation?
Answers
hey mate..
Some of the most important role of marketing in making a product successful are as follows:
1. Meets consumer needs and wants:
Needs pre-exist in market. Marketers identify the needs of the consumer and adopt their marketing strategies accordingly. They influence wants, as these are shaped by cultural and individual personalities. Their needs are satisfied through the exchange process.
2. Ensures organization survival, growth and reputation:
A business survives because of customer retention and increase in the market share. Marketing helps companies achieve their objectives because it is customer-centric. Marketing helps in satisfying customers beyond their expectations.
3. Widens market:
Marketers use mass communication tools such as advertising, sales, promotion, event marketing and PR to promote their products far and wide. Moreover, PR programmes build and protect a company’s image and product. Revolutions in media technology have made marketing more interactive.
4. Adapting the right price:
Price is a critical element in the marketing mix of a producer because it generates revenue. Marketing strategies help in setting fair prices, incorporating appropriate changes, and preparing a right approach. The exchange process move smoothly when prices are fixed in a favourable manner.
5. Better product offerings:
Most companies sell more than one product. Physical products, that is goods have to be well packed and labelled. In contrast, services are characterized by intangibility and inseparability. Thus, marketing plays an active role by designing and managing product offerings.
hope it helpz uh
Explanation:
Marketing plays an important role in establishing relationships between customers and the organizations offering to the market. ... The marketing function is also tasked with branding of the organization, participation in publicity activities, advertising and customer interaction through feedback collection.