Usually most small and medium businesses, don't really understand the real significance of marketing. In today's stringent economic climate, companies are always looking at ways to cut costs in order to remain profitable. Marketing is usually outnumbered and the first to go.
Why do marketing anyways.
I mean a penny saved is a penny earned. Correct! But let me ask you this. What is the real value or object of marketing? Marketing is not just about advertising and spending your money mercilessly. Marketing should be viewed as a collection of activities with the primary goal to generate more business and revenue or simply attract more people to buy your product or service.
Most companies don't spend enough on their marketing budgets, thinking that by not spending they save money. This is a misconception. I'm sure you must have heard this before "Spend Money to Make Money". But the real deal is that you need to spend your money cleverly on a tailored marketing plan aimed at promoting your goals. Remember that your marketing efforts are directly proportional to your revenue.