What is the importance of marketing to an organization? Though marketing is tied to Sales, it continues to be an expenditure that is hard to link to...

"Some 60% of
American Marketing Association member marketers say halting or
reducing spending on key marketing programs is the biggest mistake marketers can make in an
economic downturn, according to(pdf) a recent AMA survey."

In a downturn, marketing becomes even more important to
the company's bottom line, making a profit. A marketing plan is key to establishing the
dimensions of your market, where you fit according to your product and identifying where a
company should focus its marketing budget to achieve the best overall results.

In a downturn, marketing helps to identify new markets, target new customers and
determine the value of the product.  If the product that is currently in production does not
have a sustantial customer base of support, if sales are slipping and competition is securing
your former market share.  Marketing helps to identify the need for a product revitalization or
reinvention. 

"In a challenging economy, you must
find new ways to make marketing work more effectively, get more out of marketing investments,
and measure and account for marketing decisions. In short, you must make changes. Doing the same
things in an uncertain economic environment and expecting the same results is, at worst, a
definition of marketing insanity. At best it is a flawed
strategy."

Check out some of the major marketing
campaigns at the link below.

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