Advantages of Marketing

1. Marketing makes the market bigger. 

Marketing finds out what people really want, creates new demand, finds untapped markets, and finds ways to sell new goods. This makes the market bigger, which lets the makers make more money.

2. Marketing makes it easier for people to trade goods and services. 

It gives people time, place, and property utilities for the goods and services. It’s good for both suppliers and customers. The people who make things learn about the unique wants and needs of people and customers about the things they can make.

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3. Marketing helps make the best use of resources.

As marketing attempts expand the market, producers can make the most of their resources, which would otherwise only be partially used. The total cost per unit goes down because of this best use of resources.

4. Marketing speeds up other activities. 

Many other activities, like transportation, insurance, storage, banking, etc., get a boost because they are needed more to help with marketing.

5. Marketing raises the national income. 

A country’s national income is the total value of all its goods and services. After all the marketing is done, production goes up in established industries, money is put into new ones, and more services are offered. The country is getting richer because its national income and per capita income are both going up. The economy moves from a stage of not being developed to one of growing, and then to a stage of being developed.

6. Marketing to Raise the Standard of Living: 

The community has a higher standard of living because there are more necessities, comforts, and luxuries available at lower and higher prices, as well as more services and facilities. The lower prices of goods and services have made a lot more things available to everyone, even the poorest people.

According to Paul Mazur, marketing is “giving people a standard of living.” Another thing that Prof. Malcom Me Nair said was that “marketing is the creation and delivery of standards of living to society.”

7. Marketing has job opportunities that pay well:

Marketing makes it possible for more goods and services to be made and provided. It also raises social costs because more roads, warehouses, communication and transportation hubs, banks, training and professional institutions, workers, and job opportunities are needed. In addition, marketing is a complicated system with many functions and sub-functions that need different types of skilled workers. About 30% to 40% of the population is thought to be involved in some way with marketing, either directly or indirectly.

8. The economy stays strong because of marketing.

Marketing not only gets the economy going, but it also keeps it going in a way that makes everyone happy. It connects people who make things and people who buy them. It’s like a belt that connects the two wheels of a country’s economy: production and spending. Stable prices, full jobs, and a strong economy are all benefits of marketing that balances production and consumption.

9. Marketing helps people decide what to do.

When starting a business, you have to decide what to make, how to make it, when to make it, how much to make, and for whom. There were not as many problems in the past because there were local shops and a direct link between the producers and the buyers. But marketing these days is hard to understand and boring. Along with production, it has become a new specialized job. Because of this, makers depend on the way goods are marketed to decide what to make, how to make it, when to make it, and how much to make.

10. Marketing gives people everything they want.

It connects businesses and people, removes barriers to information, educates and develops people’s minds, encourages them to buy the best, and so on. In the end, it gives people everything they want.