market

Importance of marketing can be discussed in three different headings as consumers, firms and society.
1. Importance of marketing to the consumers:
Marketing provides different information about the product and services to the consumers. It helps them to know and understand the different benefits and techniques of products through advertising, publicity and public relation. Marketing also provides satisfaction to the consumer by providing different products to meet their demand and tastes when they need.It provides different varieties, designs, colors sizes and quality of products, which facilitate customers to select the best one according to their demand and capability. Marketing develop the living standard as it provides such types of products which completely change the way of living style of the customers in the society. It also creates values of the products to the customers through the creation of place, time, quantity, utility and images.
So, the customers can get required products according to their time and place. Marketing creates the value of place through providing the goods at the required place and creates the value of the time by offering the goods and services at the time when customers required them.
2. Importance of marketing to the firms:
Marketing is also very important to the different firms. It can easily distribute the products because it suggests in applying proper and effective channels of distribution. It also suggests to manage the transportation and wire-housing systems which help the firm to delivery the product from origin of production to the site of consumption. It provides valuable information which helps them to make effective plan for future and right decision. Firm can maximize the profit through the marketing. It suggests to reduce unnecessary costs and utilize the revenue in proper way. Information of exchange among consumers and firms is important for the business organization. Exchanging information is possible only from the marketing because it accumulates the opinion and ideas of different customers and supplies to the management.
3. Importance of marketing to the society:
There is a very great importance of market and marketing in the society. It is an important source for the creation of employment opportunities in the society. Many people may involved in different activities of marketing such as production, distribution, promotion and selling. Marketing helps in developing the living standard of the customers in the society. It provides goods and services according to the demand and preferences of the customers. Such goods or services provide satisfaction to the customers. Marketing helps to utilize the different resources such as natural, financial, physical and human resources in the society. These resources help the economic development of the country.