Importance of Marketing :
(i) Marketing helps at achieve, maintain and raise the standard of living. Marketing means through which production and purchasing power are converted into consumption.
(ii) Marketing increases employment opportunities. It involves various functions and sub-functions like buying, selling, transport, warehousing, financing, communication etc. These functions create need for different specializations.
(iii) Marketing increases national income. More purchasing power leads to increase in national income. It helps in the integration of industry, agriculture and other sectors of the economy.
(iv) Marketing is the only source from which business can generate revenue to meet its expenses and to earn profit. The survival and growth of a business enterprise depends on the effectiveness and efficiency of marketing.
(v) Marketing helps to identify and satisfy the needs and wants of consumers. Modern marketing begins and ends with the customers.