How Marketing Creates Value

Marketing will determine your target market. The people who are most likely to want your product or service based on several criteria. Age, occupation, education, income, marital status to name just a few. Market Research will help you decide if there is truly a need for your product. Marketing will help you position your product in the minds of your target market. Using all the information from the above sources you can now create value and attach that value to your product or service.

Once you determine there is a need for your product you can begin to demonstrate that need to a target market that has that need but is not being filled by current products or services.
Marketing will show you that you have the right product, who the right customers are, where they are, and how to reach them with a message that will make them buy. Until marketing has determined all these things no advertising should take place.

Marketing matches the product to the right customers that have a need for it. This is the real value of marketing because, as I've said so many times, advertising must always be an investment, never an expense. It must produce more revenue than it costs.

Source: http://www.smalltownmarketing.com/value.html