Importance of marketing to the society, Marketing Management

Importance of marketing

Importance of marketing to the society

1.      Delivery of standard of living to the society: main liability of the marketing is to produce goods and the services for the services according to the needs and testes at reasonable price. Marketing discovers needs and the wants to be society, producers the goods and the services according to these needs, create demand for these goods and services, encourages customers to use them and thus, improves the standard of the living of the society.

2.    Decreases in distribution cost: marketing aims at reducing the cost of the distribution as far as possible so that the commodities might be within the reach of the maximum number of customers. It increases the level of the consumption in the society. Reduction in the cost of the distribution directly affects the price of the commodity and it will also be reduced. As a result, customers who were unable to purchase t due to might high prices can now purchase the product. Even if we assume that the price of the product is not decreased by a manufacturer even on the decrease in cost of distribution, it will increase the profit of the enterprise, which will be divided among its share holders, and employers who are also consumers. Even if it is assumed that this increased profit is not distributed among these persons, it will be invested in research and development which benefit the whole society.

3.    Increase in employment opportunities: employment opportunities are directly affected by the development of the marketing. According to the estimate about 40% of the labour force in developed countries like U.S.A, Japan, Canada, Germany,  France, etc. is engaged in different activities of marketing such as marketing research, transport, communication, storage, warehousing, publicity, wholesale, and in retail trade. It is expected that in the under developed countries like India, there is great scope of increasing employment opportunities by developing marketing activities.

4.     Protection against business slump: business slump causes unemployment, slackness in the success of the business and great loss to the economy. Marketing helps in the protecting society against all these problems. Marketing includes the discovery of the new market in protecting society against all these problems. Marketing includes the discovery of the new market for the goods, modifications, and alternations in the quality of the product, and in the development of alternative uses of a product. If reduces the cost of the distribution and maintains the level of the sales volume. All this protects the business enterprises against the problem of business slump.

5.     Increase in the national income: successful operation of the marketing activities creates maintains and increase in the demand for the goods and service in the society. It results in the increased level of the production and it increases the scope and the area of the marketing. These increases, in turn, increase the national income, which is beneficial to the society as a whole.

Posted Date: 9/19/2012 3:16:55 AM | Location : United States







Related Discussions:- Importance of marketing to the society, Assignment Help, Ask Question on Importance of marketing to the society, Get Answer, Expert's Help, Importance of marketing to the society Discussions

Write discussion on Importance of marketing to the society
Your posts are moderated
Related Questions
(a) Show one movie genre of particular interest to you and give examples from relevant films to illustrate the conventions used. To what extent do you think that genre conventions

Question 1: a) What is meant by Customer Relationship Management (CRM)? b) Nestlé's products include baby food, bottled water, breakfast cereals, coffee, confectionery, da

Discuss the meaning of packaging by elaborating. The definition of packaging shows that package into the definite container or wrapper. Therefore packaging is a one of the sign

Q. Use of array in assembly language? Let's write a program to add two 5-byte numbers stored in an array. For illustration two numbers in hex can be: Let's also presu

Need of the environmental analysis: the strategies that a company may adopt are influenced by the environment. An organization cannot keep itself insulated from the environment. I

What are the requirements to make finished goods for consumers? All needs to make finished goods for consumers are as given below: i. Installations: For producing any prod

Q. Explain Different types of Headlines ? Different Forms of Headlines:- Direct Benefit Headlines Question Headlines Announcement Headlines. Provocative He

Context and Marketing Communications Organisations can be seen as open social systems (Katz and Kahn, 1978) in which all components of the unit or system are interdependent an

The management team of a four year old pharmaceutical company in Boston is developing an immunization against malaria. The team has just learned from the FDC that is has passed sta

1) What are the stages described in the model of the entrepreneurial process? What are the factors that give birth to a new enterprise and influence how it develops from an idea to