Y mArKEtINg ????????????

 There is  confusion about what constitutes "marketing. "  Marketing entails several functions that include:

[*]Developing the products or services that customers want.
[*]Pricing the products or services correctly.
[*]Making the products or services readily available to the customers.
[*]And finally: Promoting the product or service, which if done correctly, not only convinces customers that the product or service is preferable to its competition, but that it is clearly the only choice.  This is the field of marketing "communications" and of all the marketing components, it is the one most likely to be outsourced and the one most likely to be neglected if a company is making a profit.

I think that effective marketing not only helps to increase sales - it leads to the creation of a more valuable asset - a RECOGNIZED BRAND - something you might want to sell some day.  I spend a lot of time talking about why a company should invest in marketing; this post takes a slightly different tact by going beyond the short-term reasons, and explains how a company that focuses on marketing will be more attractive to potential investors in the long-term.


1. Marketing communications creates "top of mind" awareness

2. Preferred brands command a premium price - short and long-term

3. Happy customers not only send referrals, they create perceived value

4. Planned marketing communications create a system that can be replicated
 
5. Repeat revenue streams ensure a profit now and later

6. Nothing lasts forever: marketing has to be a long-term investment

7. Employees who are "brand ambassadors" sell your company - to customers and potential buyers.

Marketing is a long term investment.  You will not create a recognizable brand (name, image, reputation, etc.) without it.  You will not develop a stable, growing business without it.  You will not beat the "lead generation" game without it.   You will not create "brand ambassadors" among your employees without it.  You will not create a company that has obvious value to a potential buyer without it.  Marketing is essential to the health and continuing prosperity of any business - including manufacturing and industrial businesses.  So what are you waiting for?