14 Importance of Marketing

you get...

• The importance of marketing
• The role of marketing in the modern economy.
• Contribution of marketing to human society

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Capital is very useful for production , and marketing is the lifeblood of production.

Consumption is the ultimate goal in the production of a product. Production is meaningless if the product cannot reach the consumer.

Marketing strengthens the production process by delivering the product to the consumer and connecting production with consumption.

It increases the speed of economic development.
That is why marketing is called the engine of economic development.

Below we describe some important aspects of marketing.

1. Mass production :
The economic development of the country depends mainly on the volume of production. The larger the market, the more extensive the production process.

As soon as the consumption of a product is ensured by marketing, the production process is promoted and expanded.

Therefore, it can be said that an improved and sound marketing system paves the way for management and mass production.

2. Development balance of agriculture and industry :
Agriculture and industry are interdependent.

Marketing provides agricultural products as industrial raw materials, and industry provides industrial products to agriculture and thus plays an important role in the balanced development of agriculture and industry.

3. Solve the problem of unemployment :
Marketing plays an important role in creating suitable and effective employment opportunities for the unemployed in the country.

A large number of people working at different levels make a living by participating in the marketing process of a company.

As a marketing system, it improves as jobs increase.

Therefore, it can be said that marketing plays an important role in solving the problem of unemployment.

4. Social Security :
Marketing is very important in society for all classes of people.

Marketing plays an important role in today's society through prevention of population explosion, vaccination of children, various social welfare strategies related to health care, transportation and distribution system.

It achieves the common good and increases the rate of economic development. With the achievement of the common good, it can be said that the speed of economic development will increase.

5. Improving the quality of life :
Marketing plays an important role in raising the standard of living of the country's population .

The American researcher Pol. M. Major has shown that effective marketing helps improve people's quality of life.

Marketing in many ways makes the economy prosperous and dynamic and contributes significantly to the national product. Marketing increases national income and quality of life through transportation, storage and other services.

6. Equal conditions for regional development :
They know that not all products are produced in all regions of the country due to geographical location or natural causes. A product type is produced in a region.

Marketing can ensure the cross-regional allocation of resources by moving products from an area of ​​surplus to an area of ​​shortage. This ensures fair regional development with inter-regional distribution of resources.

7. Development of foreign trade :
The importance of marketing in the development of foreign trade is incomparable.

The sale of goods from different countries not only brought in foreign exchange but also increased foreign trade. This makes the country's economy strong.

8. Equality of supply and demand :
The great importance of marketing is also manifested in supply and demand.

Marketing ensures equality between supply and demand by offering goods according to consumer needs.

A balance between supply and demand helps businesses withstand recessions. And crisis-free business activity accelerates economic activity and development.

9. New products market :
Marketing helps to create new markets for products. Thanks to the new product market, you can enjoy the benefits of mass production.

It is possible to expand the country's trade and commerce, which accelerates the country's economic development.

10. Continuation of production speed trend :
Marketing, on the one hand, supplies industry by obtaining raw materials from various sources, and on the other hand, maintains the rate of production by bringing manufactured goods to market as needed.

This role of marketing is equally important for society.

11. Creation of services :
Marketing creates the advantage of space, time and product ownership advantages. It accelerates the flow of consumption by ensuring the delivery of goods across the country at any time on demand.

12. Reduction of production risk :
Behind the production of the product there are costs, profits and risks for the manufacturer of the product. Manufacturers take the risk of making a product in the hope that the product will sell.

A marketing system increases the risk-bearing capacity of the producer.

13. To support the existence of the company :
A marketing system takes the necessary steps to support the existence of a business.

Without a marketing system, products could not easily reach consumers.

This disrupts production and threatens the existence of the company. Therefore, the role of marketing in maintaining a company's existence is undeniable.

14. Economic development :
The importance of marketing for the country's economic development is immeasurable. There is historical evidence that the marketing system breathes new life into economic development.

Mass production is one of the most important prerequisites for economic development. And this mass production is not possible without effective marketing. As a result, it is impossible to measure the importance of marketing to economic development.

From the above discussion it can be said that the importance and necessity of marketing is much higher in the country's overall economic development.

Undoubtedly, agriculture, trade and industry play an important role in regional development and solving the problem of unemployment, and therefore a proper marketing system plays this important role. This is great! Worthy!