Marketing and promotion is the key to a successful business. To what extent do you agree?

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There are several keys towards business success.
However
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, some people think that
product
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promotion and marketing skills have worth penetrating a
product
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in the
market
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for a successful outcome. I partially agree with
this
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view as there are other components as well that needs to be considered. Marketing and brand promotion are essential departments of an association. If an organization have a lacking in their branding strategies,
this
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will eventually impact reputation and revenue loss.
This
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department prepares tactics to enhance adaptability by the end users and compete with other substitutes available in the
market
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.
For instance
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, Apple a renowned
company
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started their manufacturing plant on a small scale and
due to
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their focus on marketing strategies, they are now leading in mobile phones.
However
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, there are some other keys as well towards a benefit of a
company
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. amount and
quality
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play a vital role towards
company
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profit.
Due to
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the high inflation rate, clients in the
market
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have become price-conscious and they prefer products with reasonable prices and better
quality
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. So, creating a
quality
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product
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at a reasonable price is a challenge for a team as compromise can lead to a direct impact on their reputation and financial loss.
For instance
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, Nokia Brand has captured an 80%
market
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share
due to
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its robust technology and reasonable cost within a year.
Consequently
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, these factors should be considered
while
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launching a commodity or service in the
market
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.
To conclude
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,
although
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product
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marketing has its own importance for business development, a
company
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with a high
market
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share
also
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focuses on price and
quality
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. By taking certain measures and strategies, an organization can establish the desired profit.
Submitted by ned.khizar on

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Topic Vocabulary:
  • Visibility
  • Market recognition
  • Digital marketing
  • Social media
  • Search Engine Optimization (SEO)
  • Online advertising
  • Consumer behavior
  • Brand loyalty
  • Purchasing decisions
  • Brand identity
  • Ethical concerns
  • Financial burden
  • Innovation
  • Saturated market
  • Customer engagement
  • Traditional vs. modern marketing
  • Market trends
  • Feedback analysis
  • Adaptability
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