Marketing acts as an important role in our global environment. Marketing has affected various organizations.
First and foremost, marketing costs consume a sizable portion of Buyers’ Dollars. About one-half of a buyer’s dollars goes to pay the costs of marketing. Because marketing expenses consume such a significant portion of our dollars, you should know how this money is used.
Marketing is used in non-profit organisations. Marketing is also important in organisations working to achieve goals other than ordinary business objectives such as profit. Government agencies engage in marketing activities to fulfil their mission and goals. In the private sector, non-profit organisations also employ marketing activities to create, price, distribute, and promote programs that benefit particular segments of society.
Marketing is important to business and the economy. Businesses must sell products to survive and grow, and marketing activities help sell their products. Marketing activities help produce the profits that are essential to the survival of individual businesses.
Marketing fuels our global economy. Profits from marketing products contribute to the development of new products and technologies. Advances in technology, along with falling political and economic barriers and the universal desire for a higher standard of living, have made marketing across national borders commonplace while stimulating global economic growth.
Marketing knowledge enhances consumer awareness. Studying marketing allows us to assess a product’s value and flaws more effectively. Understanding marketing enables us to evaluate corrective measures (such as laws, regulations, and industry guidelines) that could stop unfair, damaging, or unethical marketing practices.
Marketing connects people through technology. New technology, especially technology related to computers and telecommunications, helps marketers understand and satisfy more customers than ever before. The Internet has...