we know that economic machine has two wheel they are production and consumption and marketing is the motive power to keep the wheel running in equilibrium or it is the vital link between these two wheels. they are important to business firm or manufacturer to the society to the nation to the consumer.
significance to the business firm or manufacturer
helpful in planning;marketing provides information to management related with planning for future program mes.it provide valuable data and information by conducting research and many other program mes.
helpful in making profit;marketing can generate revenue at a cost which will leave some surplus in the form of net profit. through marketing system firms can earn revenue by selling goods and services to the consumer. it earns profit through the creation of time place and posses ion utilities.
helpful in distribution;in business organization marketing department provides information about quantity and time means and medium of transportation etc. of delivery of good in different places.
helpful in exchanging information;marketing plays an important role of exchanging information among consumer and firms. that exchange is essential for business success because management can make effective plans and policies by using those information.
formation of goodwill; through marketing activities business organization can serve its customer according to their demand taste and habit at reasonable price. so the firm can form its goodwill.
significance to the business firm or manufacturer
helpful in planning;marketing provides information to management related with planning for future program mes.it provide valuable data and information by conducting research and many other program mes.
helpful in making profit;marketing can generate revenue at a cost which will leave some surplus in the form of net profit. through marketing system firms can earn revenue by selling goods and services to the consumer. it earns profit through the creation of time place and posses ion utilities.
helpful in distribution;in business organization marketing department provides information about quantity and time means and medium of transportation etc. of delivery of good in different places.
helpful in exchanging information;marketing plays an important role of exchanging information among consumer and firms. that exchange is essential for business success because management can make effective plans and policies by using those information.
formation of goodwill; through marketing activities business organization can serve its customer according to their demand taste and habit at reasonable price. so the firm can form its goodwill.
