What Is Marketing Plan?

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In the modern era of large scale production and industrialisation, role of marketing has widened. The reason is due to new trends and technologies where marketing is now a pillar and also all the companies whether it is local or international brands, they must do marketing thus, in other words means that there is more employment for people. This enlarged role of marketing has created many employment opportunities for people.

iii. Marketing Is Helpful in Development of an Economy

Marketing is the basics of the economy revolving. The marketing organisation, more scientifically organised, makes the economy strong and stable, the lesser the stress on the marketing function, the weaker will be the economy. This shows that more an economy has done marketing on its products, the more it is bound to have a greater impact on its annual GDP.

The reason is simply because through marketing, the country exploits more of its resources. For example, Mauritius has to do many marketing for Tourism sector, the reason is because not only it is the pillar economy of the country but also it is one of the resources that the country is more likely to exploit. The system of marketing for Mauritius is that if there is more Marketing, the more the revenue will bigger and the Gross Domestic product. It will boost up the economy of the country.

IV. Marketing Is Helpful In Raising and Maintaining the Standard Of Living of the Community

Professor Malcolm McNair has further added that “Marketing is the creation and delivery of standard of living to the society”.

The reason is that by making available the supply of goods and services to consumers at a reasonable price, marketing has played an important role in raising and maintaining living standards of the community. With evolution, in the modern times, with the emergence of latest marketing techniques even the poorer sections of society have attained a reasonable level of living standard. Today we see that even people with a lower salary can afford to have television, other electrical appliances which normally were considered as luxury in the pasts.

This is basically due to large scale production and lesser prices of commodities and services. This means that today everything is available in the market at a different price, this shows it easily available for every people as it is manufactured in a larger scale and also the price have reduced due to the fierce competition and for a company to sell more of its products, they are doing more marketing and playing with price which is a determining factors.

Marketing has in fact, revolutionised and modernised the living standard of people in modern times, this is due to a higher emphasis put by companies so as to have a better margin over its competitors. Also people are now more aware of the products which was considered as luxury in the past and today it is a basic needs, this is due to marketing with which toady there has been a revolution in the market.