Importance of Marketing

Marketing helps to achieve, maintain and raise the standard of living of the society.
Marketing increases employment opportunities by engaging people in various marketing functions like; buying and selling, transport, warehousing, financing, risk-bearing, market information and standardization.
Marketing helps to increase national income by cutting down on cost and thus, charging less price for the goods and services sold in the market. Ultimately, this increases the purchasing power in the hands of people.
Marketing helps to maintain economic stability and development.
Marketing is a connecting link between the consumer and the producer.
Marketing removes the imbalances of supply by transferring surplus to the deficit areas, through better transport facilities.
Marketing helps in creation of utilities by creating possession, place, time and information utilities for the goods and services produced in an economy.