Strategic Role of Marketing Goods and Services

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  • Marketing provides consumers with choice and highlights a business or product’s competitive advantage.
  • Process of developing a product and implementing series of strategies aimed at correctly promoting, pricing and distributing the product to a core group of potential customers.
  • Marketing can create brand awareness through strong and effective campaigns.
  • Involves researching changing nature of consumer preferences and ensuring resources of the business are directed towards developing a product that satisfies its target market.
  • Marketing can increase market share and therefore sales and hopefully profitability.
  • Aims to maximize sales, increase market awareness & maximize consumer choice and satisfaction.

Extract from Business Studies Stage 6 Syllabus. © 2010 Board of Studies NSW.