MARKETING INVOLVES THE SATISFACTION OF CONSUMER NEEDS
Marketing strives to develop products and services that appeal to its customers and satisfy them. It is gaining more importance as organizations around the world find it important to capture and retain the hearts and minds of customers.
In today's highly competitive market companies who are still concerned about their product instead of their customers are doomed to fail. Organizations choose marketing to retain the customer. Those who understand the concept of marketing and practice accordingly survive in the market and others are slowly edged out of the market. Companies that do not include the full range of all marketing components in the marketing mix are unable to remain in the market.
Since in marketing customer is considered to be the king, it has significance for the consumer. Marketers provide a variety of products to the consumers, emphasise improving the quality of the products, and control the price mechanism. Marketers want to provide the best services to users at reasonable prices to get a competitive advantage over their rivals.
1. It helps in economic development by providing employment and raising income levels.
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2. Marketing helps to improve the quality of goods and services available in the country.
3. It provides choices to the customers among diverse.
4. It helps to spread awareness about the rights of the customers.
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