Role of marketing in the economy

This is beneficial to the whole society. Agricultural, and particularly livestock products, are generally seasonal in supply and are more susceptible to natural shocks.

As markets and economies develop, surpluses occur more frequently in profitable activities, creating new wealth, while products are moved greater distances than before.

Low farm productivity of many developing countries is often due to factors such as inefficient methods of irrigation, lack of mechanisation in farming, inadequate supplies of fertiliser and natural disasters.

Organizations now create more marketing departments, positions and platforms in order to promote their brands. Proper incentives should exist for a subsistence farmer to produce more. In developing countries where high technology investments are prominent, the operation of these enterprises has suffered from managerial problems.

Advances in marketing with economic growth As economic growth proceeds, several changes in marketing take place. Modern marketing always aims for customer satisfaction. An example is the case where increased trade in some commodity e. Despite the fact that there is no job in the country today, the little ones that are available are marketing position.

Marketing System A marketing system consists of two major factors viz: But a community centre differs from a community development programme in two respects, fiscal responsibility and management by the community. The role of marketing in economic development Marketing and trade play vital roles in the economic growth and overall development of a nation.

In Nigeria marketing ensured that products are provided in the right forms, quantities at the place where they are needed by the consumers at an appropriate time. If all farmers can be provided with production inputs, the financial system, the market and the agricultural knowledge they can improve the agriculture.

Development specialists such as Owens and Shaw rightly pointed out that agricultural development is more a human problem than a technical problem.

In this respect developing nations may take lesson from both Japan and the United States where small businesses constitute a large part of their industry.

Direct Connections Between Marketing and Economic Development Marketing serves also as an economic driver in many ways, from job creation to influencing purchases of products and services.

Students often do not see any relationship between their educational aspirations and job aspirations. Since livestock products typically have positive income elasticities of demand, economic growth can lead directly to new opportunities for production.

Increased spending will result in increased tax revenue that can be used to improve governmental agencies and other entities that depend on government support, like schools and hospitals.

In conclusion, marketing play a significant role in Nigeria economy and it impact is glaring in all our economic activities in recent time. In this respect developing nations may take lesson from both Japan and the United States where small businesses constitute a large part of their industry.

Specialisation in activities of comparative advantage Without market facilities, areas must maintain diversified activities to produce their own food, shelter, tools and other needed goods.

These activities in so many ways have affected the lives of Nigerians positively. If all farmers can be provided with production inputs, the financial system, the market and the agricultural knowledge they can improve the agriculture.

In Nigeria marketing ensured that products are provided in the right forms, quantities at the place where they are needed by the consumers at an appropriate time. Business slump cause unemployment, slackness in the success of business and great loss to economy.

You may want to know how. A comparative advantage exists when an individual or region can produce a good, relative to the price of other goods, more cheaply than another individual or region. Specialisation in activities of comparative advantage Without market facilities, areas must maintain diversified activities to produce their own food, shelter, tools and other needed goods.

As a result of it, marketing is considered to be the most important activity in a business enterprise while at the early stage of development it was considered to be the last activity.

In Africa, the marketing of agricultural products typically suffers from limited institutional support. Important considerations may also be to improve distribution of income between sectors of the economy and to maintain some stability of supply and demand for marketed goods.

Agricultural Development and Farm Productivity:. The employees in the marketing department of an organization are responsible for communicating to customers or clients why they need to purchase the goods or services offered.

Marketing relays information to customers or clients and helps establish the overall image of the brand. One of the marketing department's biggest jobs is advertising.

The Role of Marketing in Organizations – By Timothy Mahea. the role of marketing in organizations is too important to be ignored. Today’s global economy has. In conclusion, marketing play a significant role in Nigeria economy and it impact is glaring in all our economic activities in recent time.

Each time you go online, you see people marketing one thing or. The role of marketing and trade in development Marketing and trade play vital roles in the economic growth and overall development of a nation. The major roles of marketing and trade in the national economy can be thought of in terms of.

economic development, this article focuses on the role of marketing in the development process. Against a background of the evolution and scope of marketing and its relevance and value in the development process, the function of marketing in the Third World* both as a The Role of Marketing in Economic Development.

Nov 30,  · Best Answer: Marketing plays a vital role in economic growth in the present global world. It ensures 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 Status: Resolved.

Role of marketing in the economy