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
What are the objectives of Marketing Information System? Objectives of Marketing Information System This comprises marketing planning system, implementation system and ma

Marketing planning: Through strategic planning, the company decides what it wants to do with each business unit. Marketing planning involves deciding on planning marketing s

1. Offer an example, real or imaginary, of firms in each of the following three situations (do not use the Wiztech case as the basis of your response). Thoroughly explain your exam

Industrial Goods All goods and services that are used in the production of other goods and services subsequently supplied to consumers. Industrial goods separated into 3 catego

What is the function of exchange in buying and assembling of marketing? Buying and Assembling in Marketing: Procurement of raw materials, finished or semi-finished product

Explain about the increased profitability in e-commerce. Increased Profitability: a. The direct cost to sale for an order taken through a web site is lower as compared to

Why is customer satisfaction so significant? Effective marketing focuses on two activities that are retaining existing customers and adding new customers. Although customer sat

1. In a perfectly competitive world of two individuals, A and B, and two goods, X and Y, if good X is a pure public good and good Y is a private good, a. Derive the Pareto Optim

Importance of media planning One significant role of the marketing manager is media planning. The media events of a business shouldn't be made 'on the spur of the moment.' Rath

Inflation The overall and general increment in price level for goods and services in a particular economy. Inflation can be viewed by a raise in the general cost of living or a