Although there are many reasons in this world why an entrepreneur needs to market his business, there are only top 5 practical reasons why most successful companies continue their marketing campaigns. These practical reasons are listed in no practical order.
1. The market continues to evolve and change. Some people think that by doing business with a certain product (especially something that does not have a possible frequent repeat sales), time will come that once a particular area is saturated, no body else will buy that product. That is a pessimistic point of view.
A positive thinker knows that the market is always changing and evolving. Tell me, how many babies are being born around the world every day? How many babies are being born throughout the United States alone every day? How many people graduate from high school every year? How many people graduate from college every year? How many couples get married every year? How many people look for jobs every year?
According to one book I have read, one-third of all Americans in their twenties move each year. Go to international airports, how many new immigrants come to America every year? If these big companies stop marketing their business, they would miss out on a lot of evolving opportunities for their business. The changing and evolving market gives these successful companies new prospects year after year.
2. Continuing a company's marketing campaign gives an advantage over a competitor who ceased marketing. No wonder all these big companies seem to keep going and going with their marketing campaigns. Has Toyota ceased marketing their cars although new competitors are around the corner? Has McDonalds ceased from marketing their burgers from television ads?
Marketing therefore is a do-or-die strategy to keep the big businesses alive. Once a company ceases marketing their products, they loose. A new business will never survive in the business world without any business strategy.
3. People can quickly forget. Almost everywhere today, there are already thousands of advertisements - be it on the streets, in the print media, on the televisions shows, on the internet, etc. People need to be reminded always of your business. People need to be reminded of your existence. Otherwise, all these other
advertisements will simply bombard the minds of your customers and you'll be forgotten.
Marketing involves a business presence everywhere to tell people of your business. No wonder these big successful businesses seem to be almost everywhere. When their loyal customer needs them, they are there. Thus this successful businesses can always capture the sales and make lots of profits. Now, do you see the wisdom why there are big billboards of McDonalds along some freeways?
4. Marketing allows big businesses to continue operating. According to the business experts, marketing is the lifeblood of the business. If a company has no business marketing campaign, it won't be able to generate any sale of their products or services, and it will simply die out. Come to think of it, if no money is coming into the bank accounts of that business except for expenses and bills, what good will that business have?
Although The Coca Cola bottlers company has been in existence for quite a long time now, it still continues to market its business through different advertisements. And yet, it is not just word of mouth advertisement that they rely on, they really do active advertisements year after year.
5. The Business Competitor Won't Quit. Case scenario: XYZ company sells gas but does not put a billboard sign along the freeways; on the other hand a competitor ABC company has billboard signs along the freeways. When a travelling car is about to run out of gas and the driver searches for a gasoline station and sees the billboard signs of ABC company, where will he naturally go at first?
To buy something, people spend money, don't they? Therefore, if you don't make people aware of where you are and what you are selling, they will naturally spend their money somewhere else! On the scenario we have mentioned, the driver who was looking for a gas station finds ABC company selling gas will naturally spend his
money with ABC company. If he doesn't know the existence of XYZ company, how can he know where this company is? If he doesn't know what XYZ company sells, why will he buy gas there when he knows ABC company can provide his immediate need at that particular moment? Who wins the business and the sale? Will the competitor win when it quits marketing?
So, if successful business companies make use of marketing strategies to improve their businesses, is there any reason why small businesses and new business owners should not?
Although there are different kinds of marketing campaigns, at least you as a business owner should apply a few to make your business grow. Example, if you venture to do business on the internet, you must be able to do
internet marketing.
Remember, the growth of your business may be proportional to the marketing efforts you do for your business. Apply the wisdom of the big successful companies by marketing your business.
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Copyright by VMT Singuillo
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