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Objectives of Marketing



Objectives of Marketing
Now we will study the Objectives of Marketing. It is divided in point of views of Three Major Factors for which Marketing is done. These three factors are 1) Consumer / Customer, 2) Producer / Manufacturer, 3) Society.
A. Consumer Point of View (Objective for the consumer) :
1.   Satisfactory services: Marketing help to provide satisfactory services to the consumer in other word marketing aims to make a consumer feel satisfied after consumption the product.
2.   Full fill the Demand: Marketing includes a study of the market so it helps to calculate demand and make sure that this consumer demand should be gate fulfill.
3.   Innovations :  Consumer always want something new, something unique, something innovative. A producer can identify this request from market surveys and make appropriate changes in the product.
4.   To retain consumers: Marketing is done to retain current customers and increase new customers. Marketing help people to understand the products in the market and its features, advantages, benefits, etc. so people will buy these goods.
B.  Producer point of view (Objective for the producer) :
1.   Improve performance of goods and services: Market study help producer to identify what people demand and desire most, so he can improve his product as well as provide better services.
2.   Increase the utility: To provide good quality product producer need to increase utility of a product so people will buy the product.
3.   Create Brand, Loyalty: When a product is a quality product and the demand for a product is more, then the name of the producer become a brand. People start buying the product by just reading a company name. They start to believe in the name of the producer.
4.   Increase profit and wealth: Producer get more profit with increasing demand and sale it also creates good goodwill of the company, so people will invest in a company shares.
5.   Create creditworthiness: Good brand name and goodwill make a good image of the company and create creditworthiness. Banks give a lump sum amount as a loan with fewer conditions because of this creditworthiness.
C.   Society point of view (Objective for society) :
1.   Development of society: Marketing help to develop society by providing various jobs by various functions of marketing. It identifies the needs of society and gives better results.
2.   Increase standard of living: With good products and services and creation of the employment the standard of living of people increases.
3.   Perform social responsibility: Every company must fulfill its responsibility towards society. Marketing also helps to perform such responsibility. It also called as CSR (Corporate Social Responsibility).



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