Marketing as One of the Most Important Sciences

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The increased importance of business peculiar to the modern world preconditions the great significance of marketing and its unique role. For this reason, numerous approaches investigate the given concept and provide the rationale for its further evolution. Besides, marketing is a science that analyses the modern business environment and provides different strategies that could be used to attain success and guarantee the acquisition of significant competitive advantage. Besides, the marketing concept could be defined as a unique philosophy according to which the most important goals vital for the functioning of a certain firm could be best achieved (Lorette par. 2). Besides, at the moment the given concept continues its evolution to guarantee the acquisition of a significant competitive advantage that is needed to win the rivalry. Besides, one should also realize the fact that numerous features peculiar to the current marketing society impact marketing activity greatly. For this reason, marketing plays a unique role as it helps to trace the latest alterations in the environment and implement new approaches that could become the most efficient ones. Additionally, every modern organization has a marketing department that is responsible for the creation and implementation of the above-mentioned strategies and their further exploration. Moreover, marketing plays a crucial role in both B2C and B2B business models, guaranteeing efficient collaboration between all members and improved outcomes (Anderson par. 5). Finally, the marketing and business functions of any new venture are closely connected as an organization aims at is further growth and development. Altogether, marketing becomes one of the most important sciences of the modern world as it creates the basis for the further evolution of different companies, their growth, and stable functioning.

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Therefore, there are numerous approaches suggested by marketing that should be implemented to guarantee companies rise and their further evolution. Thus, the theory of marketing mix that includes 7 elements, or 7Ps, is also often used to achieve overall business goals (“Marketing Theories – The Marketing Mix” par. 6). The first P states for a product. For this reason, great diversity could be observed here. Organizations suggest their products that differ in price, quality, and other important aspects. They might also impact peoples lifestyles and offer new services that could be explored. Price is another important aspect of the 7Ps model. The fact is that pricing determines the success of any company and its further marketing strategy. A companys entry into the new market should be preconditioned by the creation of an efficient marketing strategy needed for this organization to evolve. The place is the next meaningful aspect. It determines the peculiarities of supply chain management. For instance, in case a company is located not far from its suppliers, its success will be more obvious (“Marketing: Why is it Important?” par. 6). Promotion is crucial for all companies, no matter what services or products they offer. In case a brand is popular with the population, it will also be profitable. The next element is people, and it could be taken as the most important one. Individuals comprise the target audience that brings revenues and contributes to the positive outcomes. Additionally, personnel is also crucial as it preconditions the efficiency of different processes within a company and the quality of the suggested services. Finally, the physical evidence and the process are the interrelated aspects of the 7Ps model. They are used to describe the physical element of the functioning of any company and the processes peculiar to it. The alterations in the approaches to these elements condition the success or failure of a company and contribute to its further rise or collapse.

Considering the above-mentioned importance of marketing and approaches suggested by it, we could also state the unique role marketing plan plays in the evolution of a company. A standard plan includes the short and long-term goals and purposes, remedies that could be used to accomplish this task, the background for the evolution of a certain value, calculations related to the expected incomes and spending, and the list of strategies that should be explored to attain success (Dib 25). For this reason, the importance of a marketing plan could hardly be overestimated. It is directly related to the companys current objectives, the most important aspects of its functioning, and other elements that comprise its strategy. For this reason, when creating a marketing plan, a specialist can investigate a company from different perspectives and determine its strengths and weaknesses. Thus, there are numerous evaluating and monitoring tools that should be used to trace the alterations and state their impact. For instance, sales analysis shows how the strategy accepted by the company impacts incomes and the target audience. Furthermore, profitability analysis also helps to determine the expected revenues and create the basis for the further companys rise (Scott 67). For this reason, marketing planning becomes one of the most important activities of any specialist working in the given sphere as he/ she accepts the great responsibility. A marketing plan describes all aspects of a certain company and incorporates them to guarantee its further rise and evolution.

Works Cited

Anderson, Lawrence. “Basic Differences Between B2C and B2B Lead Generation – How Context Is Still Important.” Business 2 community, 2012, Web.

Dib, Alan. The 1-Page Marketing Plan: Get New Customers, Make More Money, And Stand Out From The Crowd. Wiley, 2015.

Lorette, Christie. “The Importance of Marketing for the Success of a Business.” Chron, Web.

“Marketing Theories – The Marketing Mix.” Professional Academy, Web.

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“Marketing: Why is it Important?” Marketing, Web.

Scott, David. The New Rules of Marketing and PR: How to Use Social Media, Online Video, Mobile Applications, Blogs, News Releases, and Viral Marketing to Reach Buyers Directly. Wiley, 2015.

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BusinessEssay. "Marketing as One of the Most Important Sciences." November 25, 2022. https://business-essay.com/marketing-as-one-of-the-most-important-sciences/.