Assignment #1: Marketing Models
Integrated Marketing Communications
Marketing plays vital role in building the sound position in the competitive market. Further, organizations are also able to build competitive advantage through effective marketing strategy. In this paper, the importance of marketing for the business success is discussed. Along with this, marketing and promotion process model for the product and services has also been analyzed so that firms can make appropriate strategies to gain consumer advantages.
Significance of Marketing
In today’s competitive environment business success is majorly dependent on the type of marketing. Most of the aspects and operations of the business are based on the successful marketing campaign. Marketing covers different components such as public relations, advertising, personal selling and sales promotion. In addition to this, marketing is the process through which, business firms introduce and promote the product and services to the potential customers. Without marketing, business firms can offer the products within its industry; they cannot sell it to the potential buyers in other countries and industries (Gitman & McDaniel, 2008). Therefore, it is important for business firms to make effective strategies for marketing of products.
Due to high competition in 21st century, business firms have to do marketing in order to generate awareness among customers about their products and services. Marketing is used in order to make communication with the customers to attract them for the product and services. Further, the company is also focused towards increasing the sales through effective marketing strategies. It is important for the organizations to adopt marketing strategy, which is helpful in giving competition to the rivalry firms. In addition to this, it has been analyzed that marketing is vital for the prosperity of the business...