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Any business by essence is a
profit making entity. But in the present day business environment, it is not
just profit motives by which the organisation should function,  it needs to be socially responsible too.

For
a company, it is the money that matters the most but there are other things as
well that hold equal importance. Every business has various assets that are of
importance to the organisation. These assets could be tangible or intangible,
monetary or non- monetary forms. Amidst various assets of a company, the
reputation and goodwill of the firm also holds great importance. It is the
reputation of a company that enables it to survive in the long run. A company
that does not enjoy fair goodwill or repute in the market will cease to exist
after sometime. After all no one would like to be associated with a company
that carries a negative image in the market.

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The importance of effective
marketing and advertising is something that cannot be underestimated in any
case in the present day scenario.

With the competition levels at their peak,
the role of an effective marketing strategy is increasing leaps and bounds. As
if the existing level of competition was not enough, there are fresh entrants
in the market each day to add on to the already fierce competition. Owing to
this cut throat competition, businesses are constantly engaged in coming up
with newer and innovative marketing strategies to reach out to their
prospective audiences. With many companies targeting the same set of customers,
this task of coming up with an appropriate marketing strategy becomes even more
challenging. The need of the hour is not just to come up with a good enough
marketing strategy but also to use something that beats the rest in the market.

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Any business by essence is a
profit making entity. But in the present day business environment, it is not
just profit motives by which the organisation should function,  it needs to be socially responsible too.

For
a company, it is the money that matters the most but there are other things as
well that hold equal importance. Every business has various assets that are of
importance to the organisation. These assets could be tangible or intangible,
monetary or non- monetary forms. Amidst various assets of a company, the
reputation and goodwill of the firm also holds great importance. It is the
reputation of a company that enables it to survive in the long run. A company
that does not enjoy fair goodwill or repute in the market will cease to exist
after sometime. After all no one would like to be associated with a company
that carries a negative image in the market.

Share This