Role of Marketing in the Economy

hartheehanes

New member

Marketing has a tremendous impact on an economy's growth and development.

It functions as a catalyst for a country's economic development by guaranteeing greater utilization of the country's limited resources.
Because a company's marketing efforts create income and profits, it will make better use of the nation's resources in order to increase earnings.​
Marketing identifies customers' demands and establishes the pattern of production of goods and services required to meet those wants.
Marketing also aids in the investigation of export markets.
People's living standards can be improved through marketing.
It achieves it by providing a large range of goods and services with a wide range of options.
The consumer is treated as king in marketing, and all commercial activities revolve around him.
In addition to product development, consumer satisfaction is achieved through pricing, promotion, and physical distribution of items.
Marketing functions are carried out by a huge number of individuals in modern business houses.
Marketing also encourages the creation of new job opportunities.​
To ensure that the finished product reaches the client, it passes through wholesalers, who employ a large number of people to do a variety of tasks.
 
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