1 What is marketing and why do companies have marketing pla

1 ) What is marketing and why do companies have marketing plans that are specific to their product or service?

2) Investigate at least 2 other companies either on their website or in YouTube videos that show different marketing plans.

Compare the plans and effects of what Quiznos did to these companies.

Solution

Marketing are those actions which are taken to promote and sell the products or services. It includes advertising, promotion, market research, public relation etc.

Marketing is very essential for a success of the product and services. Everyone can create a product or service but they cannot sell it. Marketing helps in it. It carries the product or services to the customers.

It is very important for a company that the customers should know about their product and services. Hence the marketing strategies are made. Once the customer came to know about the products or services offering then there is probability that they purchase and increase the sale of the company. There are many competitors in the market. So the companies should have better strategy than the competitors.

Marketing helps in building a reputation of the company. People prefer the reputed companies.

Marketing plans helps is attracting and retaining the customers.

Marketing plans gives a road map to achieve the objectives of the business.

Marketing plans make the companies’ understand the market and the customers. What are the expectations of the customers and what do they want? It all covers under marketing plan.

Overall I would say that there are many companies offering the same products and services. You may have better product or services than them but are you able to sell to customers? in order to convert those into cash you need a marketing plan