In this stage of competition, marketing has become an important activity. The importance of marketing for consumers, business firms, or for the entire society are discussed in this post.
- Marketing provides selection facility. It offers varieties of products and services to the potential customers.
- Marketing provides information about goods and services. Information regarding taste, manufacturing date, expiry date, warranty, price etc. are provided.
- Marketing helps rise in living standard of the people by offering standardized products and services to the users.
Marketing plays very important roles in development and expansion of business. Producers can sell their products with the help of marketing. Other intermediary, middlemen, business firms also can get benefits from it. The importance of marketing to business firms are as follows:
- Marketing provides information for planning and decision-making.
- Marketing helps in mass distribution
- Marketing increases goodwill and image of the business firm
Marketing may play significance role to society and nation also. Society or whole nation can get various benefits from marketing, they are as follows:
- Marketing breaks vicious circle of poverty
- Marketing helps rise in standard of living
- Marketing helps in creation of utility
- Marketing focus on optimum utilization of resources.
1. Importance of marketing to the consumers
The consumers can satisfy their needs and wants only with the help of marketing. In present world, people have innumerable needs and wants and they may change even within a moment. Because of marketing, consumers have got the facilities to select wanted or needed goods, buy and use them. The services and facilities provided bu marketing are as follows:
- Marketing provides satisfaction to the consumers
- Marketing provides selection facility. It offers varieties of products and services to the potential customers.
- Marketing provides information about goods and services. Information regarding taste, manufacturing date, expiry date, warranty, price etc. are provided.
- Marketing helps rise in living standard of the people by offering standardized products and services to the users.
2. Importance Of marketing To Individual Business firms
Marketing plays very important roles in development and expansion of business. Producers can sell their products with the help of marketing. Other intermediary, middlemen, business firms also can get benefits from it. The importance of marketing to business firms are as follows:
- Marketing helps in revenue generation
- Marketing provides information for planning and decision-making.
- Marketing helps in mass distribution
- Marketing increases goodwill and image of the business firm
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3. Importance of marketing to society or nation
Marketing may play significance role to society and nation also. Society or whole nation can get various benefits from marketing, they are as follows:
- Marketing creates employment opportunities
- Marketing breaks vicious circle of poverty
- Marketing helps rise in standard of living
- Marketing helps in creation of utility
- Marketing focus on optimum utilization of resources.
