ROLE OF MARKETING IN DEVELOPING COUNTRY (IMPORTANCE)

  1. Industrial Development: Industrialization means development of industries in a country or region on wide scale.  In modern marketing, production is done according to customer’s needs and wants and therefore their needs are satisfied. This results into rise in demand and market expansion thereby industrial development.
  2. Development of entrepreneur: Marketing requires creativity in product development (innovation and modification), advertisement, services and promotional efforts. It also includes risk taking, challenges (to deal with competition), research, action plans and other purposeful activities.  Hence, marketing offers a great deal of experience to the potential entrepreneurs.
  3. Increases National Income: Successful operation of marketing activities creates, maintains and increases the demand for the goods and services.  To meet this increased demand, the companies need to increase the level of production in turn raising their income.
  4. Development of small-scale Industries: A small-scale industry can develop by adopting modern marketing concept & undertaking marketing activities suitable to customers’ needs.
  5. High standard of living: Marketing not only offers such products that satisfy customer’s needs but also improve standard of living of the society or customer by offering products like air conditioners, fans, refrigerator, oven, dining table, washing machines, vacuum cleaner & so on which provide comfort and easy life. Besides, due to marketing, consumers’ per capital also increases and thus they can afford such products.
  6. Employment generation: In order to perform different marketing operations or activities such as market research, production, distribution, personal selling, advertising, human efforts are required. So we can say that it generates employment opportunities.
  7. Growth of exports: Due to marketing research, a producer tries to understand the exact needs and wants of foreign consumers. Similarly, with help of advertising media and distribution channels, producers can promote and distribute their products on foreign lands.  g.: advertising products in foreign magazine, trade fair, newspaper or appointing distributors in foreign country results in to growth of exports.
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