Or so marketing practitioners claim during these tough economic times.
Having a good product is half of the battle.
However, having a good marketing strategy may ensure success in the market war.
During the two-day Agora conference of the Philippine Marketing Association, marketing practitioners gathered together to hone their skills.
With the theme "The Art Marketing Warfare," prime examples of marketing success were analyzed and dissected by resource persons from the business sector and the academe.
According to Roberto B. Dimayuga, chairman of the 4th Agora Conference, it is easy to produce a product.
However, without a marketing strategy, a good product may not necessarily reach its targeted market.
Marketing, Dimayuga further clarifies, is not limited to advertising. In fact, Dimayuga points out, marketing encompasses a much bigger concept.
It involves a good product, price, distribution and promotion.
Even without advertising, a company can still sell a product. Dimayuga explained as long as it has a good marketing strategy.
Even pricing, he said, is not the key to a product’s success.
"One can have a very expensive product and people will buy it, depending on its marketing," Dimayuga assured.
He added marketing does not necessarily apply to products alone. It also applies to services and even political personalities.
Thus, the objective of marketing, Dimayuga summed up is "to make people dig in their pockets and spend especially in these hard economic times."