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7 Major Importance of Marketing | Marketing Management

7 Major Importance of Marketing | Marketing Management   Importance of marketing can be studied as follows: (1) Marketing Helps in Transfer, Exchange and Movement of Goods: Marketing is very helpful in transfer, exchange and movement of goods. Goods and services are made available to customers through various intermediaries’ viz., wholesalers and retailers etc. Marketing is helpful to both producers and consumers. To the former, it tells about the specific needs and preferences of consumers and to the latter about the products that manufacturers can offer. According to Prof. Haney Hansen “Marketing involves the design of the products acceptable to the consumers and the conduct of those activities which facilitate the transfer of ownership between seller and buyer.” (2) Marketing Is Helpful In Raising And Maintaining The Standard Of Living Of The Community:   Marketing is above all the giving of a standard of living to the community. Paul Mazur states, “Marketing is the delivery of standard of living”. Professor Malcolm McNair has further added that “Marketing is the creation and delivery of standard of living to the society”. By making available the uninterrupted supply of goods and services to consumers at a reasonable price, marketing has played an important role in raising and maintaining living standards of the community, giving the opportunity to buy special items and goods that can help people increase the quality of their lives, better food, better technology or URBNFit exercise ball to keep them healthy. Community comprises of three classes of people i.e., rich, middle and poor. Everything which is used by these different classes of people is supplied by marketing. In the modern times, with the emergence of latest marketing techniques even the poorer sections of society have attained a reasonable level of living standard. This is basically due to large scale production and lesser prices of commodities and services. Marketing has infact, revolutionised and modernised the living standard of people in modern times. (3) Marketing Creates Employment: Marketing is complex mechanism involving many people in one form or the other. The major marketing functions are buying, selling, financing, transport, warehousing, risk bearing and standardisation, etc. In each such function different activities are performed by a large number of individuals and bodies. Thus, marketing gives employment to many people. It is estimated that about 40% of total population is directly or indirectly dependent upon marketing. In the modern era of large scale production and industrialisation, role of marketing has widened. This enlarged role of marketing has created many employment opportunities for people. Converse, Huegy and Mitchell have rightly pointed out that “In order to have continuous production, there must be continuous marketing, only then employment can be sustained and high level of business activity can be continued”. (4) Marketing as a Source of Income and Revenue: The performance of marketing function is all important, because it is the only way through which the concern could generate revenue or income and bring in profits. Buskirk has pointed out that, “Any activity connected with obtaining income is a marketing action. It is all too easy for the accountant, engineer, etc., to operate under the broad assumption that the Company will realise many dollars in total sales volume. However, someone must actually go into the market place and obtain dollars from society in order to sustain the activities of the company, because without these funds the organisation will perish.” Marketing does provide many opportunities to earn profits in the process of buying and selling the goods, by creating time, place and possession utilities. To do this, a majority of the most succeeding businesses use to manage their marketing well. This income and profit are reinvested in the concern, thereby earning more profits in future. Marketing should be given the greatest importance, since the very survival of the firm depends on the effectiveness of the marketing function. (5) Marketing Acts as a Basis for Making Decisions: A businessman is confronted with many problems in the form of what, how, when, how much and for whom to produce? In the past problems was less on account of local markets. There was a direct link between producer and consumer. In modern times marketing has become a very complex and tedious task. Marketing has emerged as new specialised activity along with production. As a result, producers are depending largely on the mechanism of marketing, to decide what to produce and sell. With the help of marketing techniques a producer can regulate his production accordingly. (6) Marketing Acts as a Source of New Ideas: The concept of marketing is a dynamic concept. It has changed altogether with the passage of time. Such changes have far reaching effects on production and distribution. With the rapid change in tastes and preference of people, marketing has to come up with the same. Marketing as an instrument of measurement, gives scope for understanding this new demand pattern and thereby produce and make available the goods accordingly. (7) Marketing Is Helpful In Development Of An Economy: Adam Smith has remarked that “nothing happens in our country until somebody sells something”. Marketing is the kingpin that sets the economy revolving. The marketing organisation, more scientifically organised, makes the economy strong and stable, the lesser the stress on the marketing function, the weaker will be the economy.

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Ramuan Herba ByDrAzlan Tingkatkan Kesihatan. Triple-T bantu pesakit mendapatkan semula kualiti hidup 28 April 2016 4:00 PM Amenuddin Embok, 38, menghidap penyakit gout dan kencing manis sejak berusia 20-an lagi. Dia juga disahkan menghidap penyakit buah pinggang kronik (more…)

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FACE SOLUTION SOAP (FSS) ByDrAzlan merupakan sejenis sabun yang mampu merawat dan menghilangkan masalah muka terutamanya JERAWAT dan RESDUNG selain mendapatkan kulit wajah bersih dan polos. Kulit muka rosak !!!! Sensitif setiap kali guna produk kecantikan… Masalah resdung mengganggu kerja seharian… Kulit muka sering berminyak… Jerawat sering tumbuh merosakkan muka bersih… (more…)

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INTRODUCTION   roin laoreet iaculis placerat. Pel len tesque dictum elemen tum con sectetur. Curabitur pellen esque pretium massa in blandit tristique tortor eu vulputate tortor eu tristique pellen esque ullamcorper (more…)

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Should you buy or lease your new Toyota in Orlando?

When it’s time to get behind the wheel of a new Toyota in Orlando, you’re faced with a lot of choices. What model are you looking for? What trim-level best suits your needs? Should you add on accessories or packages? Luckily, we have a team of skilled specialists that can help you choose and customize your new Toyota for your very individual needs. However, one decision that many Orlando Toyota drivers find themselves debating is whether to sign a car lease or make a purchase! There are benefits to both leasing and purchasing your new Toyota in Orlando; the choice is unique to each driver, as you have to decide which is a better plan for you both in terms of finances and your driving expectations. Our finance team has broken it down for you and made it easy so you can see the pros and cons of both… and they’re always here to answer any questions you might have along the way! Leasing a new Toyota in Orlando Leasing is a great option for some Toyota drivers in Central Florida, but it’s not for everyone. Each driver is different, just like each driver’s needs are unique. Here are the pros and cons of leasing your new Toyota in Orlando! Pros: Car lease payments are often lower, so you might have a bit more wiggle room in your budget to lease something that you wouldn’t be able to purchase outright. Why? Because you’re not paying to own the car, you’re paying for depreciation of the vehicle. When you lease a vehicle, you’re covered in terms of routine maintenance and specific mechanical repairs. Car leases often come with great warranties, as well! You may have a lower down payment if you were to lease a new Toyota in Orlando, as well as lower interest rates. You get to change vehicles more often! After your car lease is up, you can simply return your new Toyota in Orlando to the dealership, pay any remaining fees or end of lease costs, and then hop into a new, different ride and hit the road. Cons: You don’t own the vehicle – you’re leasing it from the dealership, which means you can’t make any modifications to it. If you like to tack on new custom parts and accessories, this may not suit you. Once you’ve signed up for your car lease term, you can’t end it early without financial obligations. Some drivers may not like this lack of flexibility. If you’re planning to put a lot of miles on your car driving long distances or heavy commutes, then leasing may not be for you, as you may exceed the reasonable mileage cap. Owning a new Toyota in Orlando Owning a new Toyota in Orlando definitely has its pros and cons, too! Take a closer look at the benefits and disadvantages of buying your next vehicle. Pros: When you own a vehicle, it’s yours to modify, alter, and change. You aren’t under any stipulations to return it to the dealership in the same condition (although you should always check to make sure a modification won’t void your warranties!). You also don’t have to worry about going over your allotted mileage – if you own the car, you can drive it to Alaska and back without worrying about how many miles you’re putting on the odometer. The money that you put into your new Toyota in Orlando when you buy it transfers on – for example, you can sell your car privately or trade it in, and put that equity towards your next car. Cons: Depreciation! The minute you drive your new Toyota in Orlando off the lot, it starts to lose value. With a lease, it doesn’t matter because the car will be heading back to the dealership at the end of the lease term. However, you won’t be able to sell your purchased vehicle for as much as you bought it for several years down the road. Maintenance and repairs are on you. If you buy a new Toyota in Orlando you’re privy to ToyotaCare, but this only covers the first two years or 25,000 miles of routine maintenance. Anything after that – and any mechanical repairs you might face – are your responsibility as the owner.  

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