Importance of the marketing in a Seller's or Buyer's market:

A seller's market is one in which the demand for goods and in the services exceeds to the supply. In such a situation there is a tendency of growing monopolies. On the other hand buyer's market is one in which the supply of goods exceeds the demand. Every firm is eager to sell its goods but only that firm succeeds which adopts the scientific ways of the marketing of goods which means adopting the designs and the quality of the goods in to the accordance with the changing tastes and linkage of the common consumer's. Thus, the importance of the marketing in both a sellers and a buyer's market is great indeed. Thus, marketing is a potential force that commands high significance. Briefly any increase in the efficiency of marketing results in a lower cost of the distribution. Lower prices to consumers mean a real increase in the national income. Low prices are a boon to the entire population. Marketing process brings new verities of useful and quality goods to consumers. This helps in to improve the standard of the living. Marketing provides wide employment opportunities. It is marketing which has counted yesterday's luxuries to today's necessaries. It converts latent demand into effective demand.