Marketing Management 3(2+1)

Lesson 01 : Marketing

Importance of marketing

• Firstly, the customer gets an opportunity to know various products available in the market.
• It helps in sustaining economical balance as it provides employment to large number of people.
• It develops healthy competition among brands, thus increases the quality of product for a customer at affordable and reliable price. Generation of revenue is possible by other companies dependent on business.

Today with the advent of e-retailing, there is a new look in the marketing scenario which has evolved as a multi-billion dollar industry. New and innovative products at competitive prices form the strategy of the marketer who focuses in turn on R&D activities. On the other hand monopoly is avoided by few businessmen due to the existence of marketing.