Why Do Companies Market? (Part II of III)
From last week…
“Well, whatever this idea is, I think we should name it after you,” Zoot said. “How about we call it ‘marka’-ting?”
Marka paused. “Have it your way. Marka-ting it is.”
Now, continuing with the second of our three-part series. Remember, fire = print.
“And how do you define marketing?” Zoot asked.
Marka thought for a moment and then answered: “Marketing involves a number of processes and strategies for producing, communicating, and delivering valuable products and services to customers and managing customer relationships for mutual benefit.”
Zoot nodded. “Sounds more complicated than I might’ve thought. Tell me, why would a company decide to market in the first place?” He asked.
“When products don’t sell themselves,” Marka answered.
“How about when companies introduce new products, or competitors enter the market?” Brandy asked.
“When the cost of a sales call becomes too expensive because of geography, availability of talent, profitability of product or any other reason,” Marka suggested.
Brandy and Marka rattled off more examples, including when companies:
- Experience a downturn in either sales or inquiries
- Make significant capital investments
- Increase their production workforce
- Lose customers that represent a large percentage of total business
- Buy another company or product
- Need to improve sales
- Need to communicate nearly any type of message to any audience.
- Are considering entry into a new market or product category.
Brandy raised an eyebrow. “Sound like any company you know?”
“Sounds like ‘marketing’ may be the answer to FEI’s sales challenge,” Zoot said.
“Yes!” Marka cried. Zoot was finally recognizing that direct sales are just one way to drum up new business, she thought.