2.1 Role of marketing

The purpose of marketing within business

Marketing is about promoting a product or service to customers in dierent ways. Dierent sized businesses will have dierent budgets for this. The main purposes of marketing are to increase sales and satisfy customer needs.

Objectives of marketing

There are 3 main objectives that businesses have to do with marketing:

Identifying and understanding customers

Businesses need to collect market research to find out what customers need and how they can fulfil this.

Informing customers

If customers don't know about a product or service, they will never buy it. Usually, businesses inform customers through advertising.

Increasing sales

To increase sales, a business could:

• Introduce a new product
• Advertise a new product
• Increase your product range
• Sell in more places
• Reduce your product's price