Operating a business venture is never an easy take and entrepreneurs worth their salt admit that they have to put on many hats to ensure the success of their businesses. However, these businesspeople admit that marketing is a crucial element behind success of any commercial venture. Within its ambit, marketing includes advertising, public relations, promotion and sales. Without proper marketing, people will remain unaware of an entrepreneur’s product may be regardless of how unique it may be. The lack of this critical element results in loss of revenue for the business and ultimately leads to its liquidation in the market.
George Bardwil, a prominent figure in the American textile industry and proprietor of Bardwil Industries, whose effective marketing campaigns have been instrumental in enhancing the image of company in this industry. Mr. Barwil’s grandfather founded this unique family-business in 1906 and from the very begin it was a name to reckon within this industry in the United States. Currently, this reputed textile company conducts its business operations in three prominent American states of New York, Ohio and New Jersey, which incidentally is also the headquarters of the company.
The company specializes in the manufacture of high quality textile products of outstanding workmanship for American homes from the raw material it imports from India and China. This esteemed textile company is a major wholesaler to prominent retail corporate enterprises in America apart from maintaining its own online presence for direct sales. The company employs more than sixty employees in its payroll in the three centers.
Mr. Barwil states that effective marketing is essential for the success of a business enterprise for the following reasons:
1. Getting the word around
Unless people are aware that an entrepreneur’ unique product exist, his/her business is unlikely to succeed. It is imperative for such a businessperson to create necessary knowledge and awareness about the existence of the product among potential customers to ensure progress, growth and success of his/her business.
2. Higher Sales
As soon as an entrepreneur’s product gets on the radar of his/her target audience via effective marketing strategies that creates the necessary awareness, they will start buying the product. Moreover, these people will soon start to spread the word around about the uniqueness of the product to their friends and relatives that will enhance sales.
3. Reputation of the business enterprise
The success of a business enterprise in the competitive market depends to large extent on its reputation to manufacture and sell high quality products. When such an organization exceeds people’s expectation, effective marketing becomes a catalyst in helping the entrepreneur gain a firmer foothold in the market.
4. Healthy Competition
Marketing promotes healthy competition in the marketplace as information about the quality of an entrepreneur’s product reaches not only the target audience but also his/her competitors. In comparison to companies operating in a monopoly, marketing assists in keeping prices of products competitive so the entrepreneurs can win over potential clients before the competition does.
George Bardwil suggests that entrepreneurs should devise a marketing program that is a healthy mix of various marketing forms to ensure success in the market.