Marketing in Different Stages of Economic Development
MARKETING IN DIFFERENT STAGES OF ECONOMIC DEVELOPMENT
MARKETING:- Marketing is about identifying & meeting human and social needs or we can say in short that marketing is meeting needs profitably. It is the activity, set of institutions & process for creating, communication, delivering & exchanging offerings that have value for customers, clients, partners and society at large. Marketing satisfy individual and social values, needs and wants- through production of goods and services with innovation and creating sense of satisfaction. This basically focus on the customers. It helps in integration of economy into society to serve human needs.
ECONOMIC DEVELOPMENT:- Economic development is generally understood to mean an increase in National Production that results in an increase in Average per Capita Gross National Product (GNP). An increase in average per capita GNP also however is not sufficient to denote the implied or expected meaning of economic development. Besides an increase in average per capita GNP, most interpretation of the concept imply a wide spread distribution of income as well. Economic development as commonly define today, acc. To KENEN (2000) also tends to means “rapid growth improvement achieved in decades rather than in centuries”. The strategies of economic development among others include Industrialization which incidentally, is the fundamental objective o most developing countries. Economic goals include following things:- * Satisfaction of such non material needs as better education for all. * Better & more effective government. * The elimination of social inequalities. * Improvement in moral and ethical responsibilities of both the public and private sectorof economy.
ROLE OF MARKETING IN ECONOMIC DEVELOPMENT:-
In order to achieve the objectives of the economic development, one should be concerned with basic institution of industrial society in general & with the management in particular.
MARKETING:- Marketing is about identifying & meeting human and social needs or we can say in short that marketing is meeting needs profitably. It is the activity, set of institutions & process for creating, communication, delivering & exchanging offerings that have value for customers, clients, partners and society at large. Marketing satisfy individual and social values, needs and wants- through production of goods and services with innovation and creating sense of satisfaction. This basically focus on the customers. It helps in integration of economy into society to serve human needs.
ECONOMIC DEVELOPMENT:- Economic development is generally understood to mean an increase in National Production that results in an increase in Average per Capita Gross National Product (GNP). An increase in average per capita GNP also however is not sufficient to denote the implied or expected meaning of economic development. Besides an increase in average per capita GNP, most interpretation of the concept imply a wide spread distribution of income as well. Economic development as commonly define today, acc. To KENEN (2000) also tends to means “rapid growth improvement achieved in decades rather than in centuries”. The strategies of economic development among others include Industrialization which incidentally, is the fundamental objective o most developing countries. Economic goals include following things:- * Satisfaction of such non material needs as better education for all. * Better & more effective government. * The elimination of social inequalities. * Improvement in moral and ethical responsibilities of both the public and private sectorof economy.
ROLE OF MARKETING IN ECONOMIC DEVELOPMENT:-
In order to achieve the objectives of the economic development, one should be concerned with basic institution of industrial society in general & with the management in particular.