To understand why marketing is important, let’s remind ourselves of the basic game plan when it comes to running a business.
So first up, it probably won’t surprise you to learn that the bottom line of any business is making a profit. This profit is largely the result of successful sales. These sales are the result of demand, which comes in the form of purchases, from people who have been convinced by the value of a product or service – and this is where marketing fits.
Marketing is an important business process where you must inform, attract and convince people that your offering is of real value to them. That’s why marketing is a vital component of any business because you need it to achieve sales – whether it’s large or small.
Because without marketing, you could have the most amazing product with the most demand in the world. But no one will know it exists, or understand the value of your offering to them, which means you won’t make many sales, so no revenue.