Importance of the marketing in the development of the economy:

In all developed countries of the world, marketing is considered to be the key of the economic activities for the industrial growth and the expansion. Truly speaking, a development is in greater need of the efficient marketing than underdeveloped countries because in a developed country, generally the production is carried on at very large scale through the use of the latest technology and equipment. In these countries the production is much more than the demands. Therefore, production takes place and a stiff competition is found in the market. It requires the market system to be much effective so that the produced goods and the services can be sold. In these countries, it is not also for the manufacturer to reduce the prices of their goods and their services, because their prices are already very competitive. Therefore, these countries take the help of improved techniques and make very possible efforts to capture the market.