Without a doubt, there are many benefits to be gained from applying modern marketing to any company, the number one being to meet any company’s main objective, which is to make a profit. This profit, of course, comes from the ability to sell products.
Apart from this obvious benefit, there are a few more that can be seen:
1) It provides employment opportunities. As the scope of marketing expands, with it comes to the need for specialists who can assist in providing the expertise needed in a particular area. The CEO cannot do everything, and it is necessary that staff be employed to fill these gaps accordingly.
2) Companies have to pay attention to the quality of their product. In the face of modern marketing where consumers now have a variety of offerings of similar products, a company has to ensure that the quality of their offering stands out and that it will be the first choice for customers.
3) It prevents waste. When a company knows the specific product needed, it lessens the chances of them producing something that will be underutilized. This, in turn, reduces the waste of time and resources in production in the first place.
4) It encourages creativity in product design. As times change, things evolve. The pace is relatively rapid as technology advances. A company that is on the cutting edge is often defined by its creativity and innovation in its approach to product design. This innovation and creativity, however, must be driven by market research.
There are many more benefits to be experienced from Modern Marketing, but this is simply the tip of the iceberg.
By Avdhesh Kumbhar
Keywords: Marketing, Sales, Startups