Explain the Importance of Marketing for an Entrepreneur
Explain the importance of marketing for an entrepreneur – For an entrepreneur the marketing process is of course very important for them to do.
Because without marketing, target consumers will never know and recognize the products they create.
What was the discussion like? Friends, please refer to the following article.
Understanding and Importance of Marketing
Marketing which in English we know as marketing refers to the process of introducing products or services to the general public.
However, marketing a product has a very broad scope, not only at the stage of introducing the product to consumers, but in the form of a whole systematic process starting from market research, planning to evaluating the process.
The Importance of Marketing in Entrepreneurship
There are several marketing roles for an entrepreneur, including:
Sales or sales is the goal of running a marketing process. Because the goal of the process of marketing a product or service is that the success of the product or service creates sales or sales for an entrepreneur.
Marketing as we know it plays a role in promoting the products or services that an entrepreneur offers to his target market.
The goal, of course, is that the product that a production entrepreneur does not only ‘break down’ in the warehouse, but he successfully introduces it to his target consumers so as to generate profit.
Research and Product Development
Product development or development as well as research is a very important process for entrepreneurs. The products he develops must follow the existing trends.
An entrepreneur must do research first to understand the market expectations for a product. Only then can he adjust to the value of the product. This of course aims to make the products that he marketed can be well received by consumers.
Communicating a product means creating a good relationship between consumers and entrepreneurs. This is something entrepreneurs need to do in order to convey messages to consumers about the purpose of creating a product or service.
What is the Scope of Marketing
The scope of marketing refers to the elements that exist in the running of a marketing activity. Among others :
The role of the organization in marketing is to realize the marketing plan, and ensure the marketing process goes well according to the existing plan.
Organizations have responsibilities, among others, to design products, conduct market research, plan distribution channels and carry out promotions.
The definition of a product is an object that is the main actor in the creation of a buying and selling activity and also the reason for running a marketing activity.
The product is the only reason that brings entrepreneurs and consumers together. So that without products in the form of goods and services, there will be no consumers and no profit.
Maybe you often hear the word market as a place for buying and selling transactions. However, in marketing terms, the market is a group of people who are buyers or sales targets. Which then we know as consumers.
It is a nominal amount that consumers must sacrifice to obtain an item or service.
The price that the entrepreneur sets must be commensurate with the value of the product he offers, and adjust to the capabilities of his target market. Thus consumers will feel it makes sense to buy the product.
In marketing promotion is like the meaning of marketing itself. Because it is in the promotion process that a product enters the ‘consciousness’ of the target consumer. The purpose of promotion in the marketing function is how the product can be recognized by consumers and they want to have.
Thus the discussion about explaining the importance of marketing for an entrepreneur and its scope. I hope you can understand it better, thank you.