Importance/Role of Marketing to Customer, Business Firm, Society and Nation

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Importance/Role of Marketing to Customer, Business Firm, Society and Nation

Importance/Role of marketing 

Marketing has a very important aspect in business and society since it contributes greatly to the success of an organization. Production, distribution and need satisfaction depend largely on marketing. 

Importance to the customer 

i) Standard of living
Marketing has been giving a responsibility and task of creating, rising and maintaining the standard of living of the society. It emphasizes to open customer-oriented business. It offers a variety of life style related products and services so that consumers can uplift the standard of living. In every sector of living people are enjoying comfort and convenience. People are enjoying comfort and convenience from bathroom to bedroom to kitchen.
ii) Provide information
Marketing provides information to customer about product, price, place and promotion. This promotes effective buying for customer. People learn as much from marketing as from university education. Generally, marketing provides the information of product, procedure and producer. Many people who are not educated are earning a civilized life through the information they get from marketing.
iii) Selection facility
Marketing begets competition. There is numerous organizations producing same product. Marketing offers a variety of goods and services at varying price and place. Among the available options, consumers can select those that match their needs. Marketing has generated choices in every aspects or field of life.
iv) Need satisfaction
Marketing provides satisfaction to customers and society by supplying relevant information and goods and services to the consumers according to their demand and taste. Marketing is a tool to satisfy human needs. Marketers find out the problems and difficulties of the customers and produce the goods and services accordingly. 
v) Creation of utility
To create or add usefulness in useless or less useful thing is marketing. For the exchange purpose, marketers create several utility such as place, time and form utility. Many things are of very less use, unless they get the marketing touch. For the purpose of marketing profit, marketers change the form of product and create form utility, store for future and generate time utility and distribute several location and place utility is created. 
vi) Easy accessibility 
Consumers and marketers are linked through well-designed marketing channel. Goods and services are distributed to consumers using different marketing intermediaries and distribution channels. Marketers through computer and information technology are able to satisfy more customers across the globe than ever before. Marketers make the best use of internet to reach the global customers.

Importance of marketing to business firm 

i) Demand stimulation 
Business firms or organization produce lots of need satisfying goods and services. They need to create demand for those produced product. Marketing stimulates and managers demand for the product via various promotional tools, such as advertisement, personal selling, sales promotion, public relation and publicity. These are the activities of marketing which help in informing, reminding, reassuring, persuading and image building about the product. 
ii) Product development 
Nowadays, marketing is considered as the source of invention. Marketing identifies the needs and problems of the customers through the study of consumer behaviour. Business organization generates product ideas through marketing research, public relation and competitors study. Earlier it is said that necessities are the mother of invention, but nowadays, marketing is considered as the mother of invention. 
iii) Objective achievement 
Business organization exists with the goal to generate effective revenue, earn adequate profit and achieve rapid and healthy growth. Marketing is the means to achieve these goals of the organization. Marketing helps to make the goods and services available to the consumers in effective and convenient manner. Marketing not only has to create the demand but also collect money from sales and make it available to the business firm in time. 
iv) Environmental adaptation 
The study of buyer behavior and marketing research depict the prevailing and emerging trends and mega-trends in the environment. This helps in understanding environmental changes to identify important opportunities. Consumer preferences remain shifting due to change in technological, economical, political and socio-cultural forces. Marketing helps in monitoring and handling these changes which facilitates environmental adaptation of the organization. 
v) Helps in innovation and change 
Business environment keeps changing rapidly. Business firms need to win over their competitors. Therefore, innovation and changes are required. Competition is very intense in business. Every effort of the competitors is neutralized by the competitors very quickly. They try to make their product distinct. Marketers always observe the competitors efforts and try to bring newness in the product. 
vi) Increase in goodwill 
Marketers aim at creating brand equity through brand name, images, logo or caption that the customers listen and watch in the advertisements. Business organizations are using various marketing tools to make their arch design and brand equity afterward. With an established name, it is easier for marketers to expand and grow. Companies also create reputation through innovation of products, which is possible because of financial resources generated from marketing. 

Importance of marketing to society 

i) Delivering standard of living 
Marketing provides a variety of products and services to the society from domestic and foreign sources so that the members of the society can uplift their standard of living and quality of life. Social marketing has promoted social products and ideas as contraceptives, immunization, environmental protection and consumer rights that have made the society modern. 
ii) Employment generation 
Marketing develops occupation and creates employment and income to large number of people involved in production distribution and selling activities. There may be one or few producers but thousands of sellers and the personnel engaged in product selling. Marketing offers many exciting, interesting, and challenging careers, like personal selling, advertising, transportation, packaging, marketing research, product development and design, cash and carry stores, retailing, lobbying, event management, etc. 
iii) Sponsorship 
Marketing firms sponsor various events such as sport, music and health camps from which the society directly benefits. Marketers are giving helping hand to government to manage the national activities. Marketers assists in social needs and problems through sponsorship. They join hands in social problems and progress through charity, technical assistance and sponsorship. 

Importance of marketing to nation 

i) Economic development 
Marketing is a leading contributor to the national income of every country. Marketing does not only provide direct income to the large number of people involved in the marketing process but it also contributes to the national treasury by paying huge taxes as VAT, excise duty and income tax. 
ii) Peace and development 
Social and political conflicts are the direct result of dissatisfaction, poverty and inequality. Marketing helps nation by making satisfied people with good income. It also helps to reduce inequality through social campaigns such as female literacy, education for all, anti caste campaign and so on. 
iii) International relation 
Marketing is the means by which countries manage their requirements. No country is this globe is perfect to fulfill their all needs. They exchange the excess and deficit resources with other countries and manage national needs. For commercial or marketing purpose, countries maintain good relation with other countries. 
iv) National identity 
Products are distributed in every corner of the world through marketing. The commercial products carry the details of the producer nation. This enhances the national identity in world arena. Various products have been the identical mark of the nation. Scotch is the product from Scotland. Samsung represents south korea. Apple is the prestigious product of America. Pashmina, carpets, herbs, etc. are the products of Nepal to the world. 
v) Ensure economic health 
Marketing persuades people to buy and spend more through different marketing tools. This can help to circulate money. Marketing also ensures job opportunities. Marketing facilitates smooth buying and selling which affects production, distribution and consumption pattern of the people. It ensures stable economic health. 

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