Search your Topic HERE....

December 22, 2013

Importance of Marketing - to the Society


sponsored links

Friends, in our last lesson we have discussed about the introduction and few famous definitions of marketing. In this post we shall discuss about the importance of marketing. For the sake of avoiding confusion and make the concepts simple, we have divide this topic into five sections.

Those are,
  1. The importance to the Society
  2. The importance to the Firm
  3. Importance in Developed Economy
  4. Importance in Underdeveloped or Developing Economy
  5. Importance in a Seller's or Buyer's Market. 
In this post we shall discuss about the Importance of Marketing to the Society.

Importance of marketing to the Society :

  • Delivery of Standard of Living to the Society : Main liability of marketing is to produce goods and services for the society according to their needs and tastes at reasonable price. Marketing discovers needs and wants of the society, produces the goods and services according to these needs, create demand for these goods and services, encourages customers to use them and thus, improves the standard of living of the society. 
  • Decreases in Distribution Cost : Marketing aims at reducing the cost of distribution as far as possible so that the commodities might be within the reach of maximum number of consumers. It increases the level of consumption in the society. Reduction in the cost of distribution directly affects the price of the commodity ad it will also be reduced. As result, customers who were unable to purchase it due to high prices can now purchase the product. 
    • Even if we assume that the price of the product is not decreased by a manufacture even on the decrease in cost of distribution, it will increase the profit of the enterprise, which will be divided among its shareholders, and employees who are also consumers. Even if it assumed that this increased profit is not distributed among these persons, it will be invested in research and development, which benefit the whole society.
  • Increase in Employment Opportunities : Employment opportunities are directly affected by the development of marketing. According to an estimate, about 40% of the labour force in developed countries like U.S.A., Japan, Canada, France, etc. is engaged in different activities of marketing such as marketing reserach, transport, communication, storage, warehousing, publicity, wholesale and 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. 
  • Protection against Business Slump : Business slump causes unemployment, slackness in the success of business and great loss to the economy. Marketing helps in protecting society against all these problems. Marketing includes the discovery of new markets for the goods, modifications and alterations in the quality of product, and development of alternative uses of a product. It reduces the cost of distribution and maintains the level of sales volume. All this protects the business and industrial enterprises against the problem of business slump.
  • Increase in National Income : Successful operation of marketing activities creates, maintains and increases the demand for goods and services in the society. It results in the increased level of production and it increases the scope and area of marketing. This increase, in turn, increases the national income, which is beneficial to the society as a whole.
That's all for now friends. In our next post we shall discuss about the The importance of marketing to the Firm. Happy Reading :)

Bhavya Vasudevan
sponsored links


  1. Nice to wrote a Marketing meaning in sociability of the social behavior of the personality few lines i really enjoyed this type of essay neat and clean definition of marketing i never seeing my studies, very well good keep it up, best of luck.

  2. Thank you so much for providing this material. It helps me in my clg project too.Thank you


Related Posts Plugin for WordPress, Blogger...