Marketing is the most important thing for the well being of business, it is in the marketing that we satisfy the needs of others.
- Marketing is the focal point of all the activities involved in the business whether it is manufacturing, finance, personnel and other activities. Marketing is vital for the survival and a growth of business.
- Marketing is the main source of generating revenue for business other activities involves expenditure, marketing provides funds for all other departments by generating revenue. Efficient marketing creates demand and enlarges the market so that more revenue is earned.
- Marketing satisfies human needs and determines the pattern of consumption it helps in assessing customers want and facilities to provide same. Modern marketing begins and ends with customers.
- It improve the standard of living by providing new and better varieties of good to people it also brings knowledge about the new products and its uses, improves the quality of life of the common man. It also helps to make good available at the low price according to customer feasibility.
- Apart from customer needs marketing creates jobs for a large number of people, millions of people are involved in transportation, warehousing, advertising, selling and distribution. Marketing also accelerates economic activities.
- Marketing is the main basis for making all the business decisions, it is made on the basis of the market condition and requirement.
Marketing provides information and knowledge on the basis of its firm decides what to produce?
how to produce? and how much to produce?
Therefore marketing is helpful and deciding appropriate strategy and policies for business.
