Importance and Uses of Marketing

Uses to the Society

(1)   Employment of Various Persons. Since the things are manufactured or produced due to marketing, hence many people get employment through the production activities. Transport, storage and wholesale and retail services cover many persons. In this way, it might be said that by marketing the employment is created.

(2)  Availability of Various Products For Use. Today, the sphere of marketing has become worldwide or international. Due to it, the products manufactured in the foreign lands too become avail­able for consumption. All this could become possible due to the growth of the marketing and its development.

(3)  Increase in the National Income of Country. If the marketing activities are efficiently undertaken and things are produced in accordance with the needs or requirements of the cus­tomers, there must be some increase in the demand of the things. The production goes up which leads to the increase in the national income.

(4)  Protecting the Economy Against the Evil Effects of Depressions. If the produced goods are not sold, there shall be piled up the unsold materials with the producers and they will fall victim to the depression effects. Thus the marketing keeps the economy safeguarded against the evil effects of the depressions.

(5)  Increase in the Standard of Living. By an efficient sys­tem of marketing, there is a fall in the prices of the products which ultimately leads to the enhancement in the consumption capacity of the society which ultimately brings reforms and improvement in the standard of living of the society.

Uses to the Producers

(1)   Helpful in Earning More Profits. Whenever any manu­facturer produces some commodity, he has to seek the help of so many people in letting the same reach.the hands of the consumers. For instance, there is the need of the middlemen, the godown­owners, the traders, the owners of transport companies, etc. By studying tl-xe marketing, more profits could be earned by being able to acquire more of knowledge and information.

(2)  Getting Information Regarding Demand. By the study of marketing, the producers are able to get information regard­ing the changing demands.

(3)  Reduction in Distribution Costs. By the wide studies of distribution, it is also known that the products be passed on to the consumers on the minimum possible costs.

(4)  Helpful in Production Planning. The producer, by studying the marketing, could plan his various policies pertaining to production.

Uses to the Consumers

Only by the study of marketing, could the consumer be able to know as to how the profits could be maximized by the limited income. While purchasing the products, the consumers must have full knowledge of the things. By the study of marketing, the consumer is able to acquire knowledge as to how the middlemen resort to their exploitation. For avoiding the middlemen's exploitation, the con­sumer co-operative societies are being promoted and developed.

Uses to the Middlemen

By the 'middlemen' is meant those persons who send the products from the producer to the consumer. The lower are the ex­penses of the middlemen, the greater is their profit. By studying the marketing, they get the knowledge as to how the expenses of dis­tribution be kept lower. Unless the middlemen possess sufficient knowledge of marketing, they can't become successful.

Uses to the Nation

With the help of marketing, in the progressive and developing countries too, good managers and entrepreneurs could be encou­raged. For resorting to the most efficient use of the resources avail­able in the country, marketing of the commodities is very necessary. By the study of marketing, the economy could be kept safeguarded against the evil effects of instability. Only due to the marketing, the processes of production and distribution continue to exist. In it the condition of full employment could be achieved. Really speaking, marketing occupies an important role in the economic development.