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Discuss The Roles of Marketing in Economy of Your Countr1
Discuss The Roles of Marketing in Economy of Your Countr1
Discuss The Roles of Marketing in Economy of Your Countr1
Marketing leads to the increase in national income as the result of increase of national output.
Successful operation of marketing activities creates, maintains and increases the demand for goods and
services in the society. To meet this increased demand the companies need to increase the level of
production in turn rising their income. Further effective marketing leads to exports adding to the
national income. This is beneficial to the whole society.
Marketing also reduces the possibilities of businesses failure in the country. Since marketing principal
provides entrepreneurs with principals to follow so as to fit in the venture they want to start. For
instance entrepreneurs have to conduct the research before they start the venture, so that they can be
aware of the demand of the consumer so that they can produce the right quantity and quality. Thus
successful businesses and hence as the result economic growth.
Marketing act as a bridge between production and consumption. Due to the fact that, it just comprises
all processes that deliver values to customers to satisfy their need such as production, branding,
promotion, transport and taxes. Thus marketing simply refers to the delivery of customers satisfactions
at a profit. It should be understood not in the old sense of making a sale (Selling), but in the new sense
of satisfying customer needs. Since many people think of marketing only as selling and advertising. This
does not mean that selling and advertising are unimportant .Rather, they are part of a large marketing
mix –a set of marketing tools that work together to affect the market place.
Marketing plays a vital roles in economic growth in the present global world. It insures the planned
economic growth in the developing economy where the scarcity of goods, services, ideas, and excessive
unemployment, thereby marketing efforts are needed for mobilization of economic resources for
additional production of ideas, goods and services resulting in greater employment.
Following are the roles of marketing in economy of the country specifically, In Tanzania.
Marketing stimulates the aggregate demand thereby enlarge the size of the market. Since
marketing comprise many processes such as marketing research which intend to know the
peoples demand as well as creating demand in the communities, these leads to expression and
even creation of new market. Thus as the result leads to the delivery of standard of living to the
society. For instance nowadays n Tanzania marketing plays a crucial roles in all economic
sectors, specifically in agricultural sector which contributes a large percent of national GDP, as
we can see this year (2019), cashew nuts is among the highly exported good. Due to marketing,
in Tanzania infrastructures have been improve resulting to high turnover from this sector hence
improvement of living standard.
Subsistence home consumption oriented kind of production is based on the use of simple
technologies that are geared to both the production and consumption needs of the farm family.
While market oriented is the one which aims at satisfying human needs at a profit.
Following are the marketing drivers that can transform primitive societies from subsistence
home consumption oriented kind of production to market oriented societies.
Marketing creates demand, hence enlarge the sizes of the market. This can affects whole
production aims of the societies from subsistence home consumption to market oriented, since
marketing plays attention to market research, which aims to figure out what customers need
and want through surveys, test groups and feedback on social media and reviews left on
website. For instance in Africa, many societies years ago before there is interaction with other
world parts such as interaction with middle east, the productions were mainly for home
consumption but soon after interaction, many societies just had just become market oriented
hence production pattern. Minerals and agricultural crops which were not marketable before
become tradable as a result of marketing processes.
Marketing brings about entrepreneurship talents and spirit into the societies that lead to the
change of people’s mindset. Through marketing societies which are just producing for home
consumption may be changed in mindset by marketing knowledge hence start producing for
market orientation. For instance in Tanzania cashew nut is just promoted to be produced
quantities and qualities that can meet international standards since it is most demanded as it is
one of the top most exported good nowadays. So even regions which were just producing it in
subsistence form are now advised to produce for market orientation.
Conclusively. Marketing principles are very crucial when systematically followed for the
development of the economy of the any communities.
REFERENCES
kotler, Philip;Gary Armstrong, John saunders, Veronoca wong. (1999). Principle of marketing. new
jersey,USA.: Prentice hall inc.