Advantages and disadvantages
- Marketing that is properly researched and targeted will bring new and returning customers
- Opinions of current and former customers can identify areas for improvement
- Raising brand awareness
- Allows for a more personal relationship between the business and the customer
- Increased market share
Disadvantages
- Marketing can be expensive and drain profits, especially for smaller businesses
- It's difficult to accurately assess the cost benefit of a marketing campaign
- Not all campaigns are successful because they were not carefully researched and planned
- The business may require additional staff to assist with advertising
- The cost of branded items used for advertising reduces profit margins
- The time required to keep information updated on websites and social media may require additional staff
