Question

Explain importance of marketing to the consumers.

Hint:

Entrepreneurship, marketing, and management principles are interconnected pillars that ensure business growth and consumer satisfaction.

Answer 1

Marketing plays a vital role in providing value and satisfaction to consumers. Its importance includes:
Availability of Goods: Marketing ensures goods are available to consumers at the right place and time.
Information: Through advertisements and promotions, marketing provides necessary information about products, prices, and features.
Improved Quality: Due to competition, businesses focus on providing better quality goods and services, benefiting consumers.
Consumer Satisfaction: Marketing helps in identifying consumer needs and designing products accordingly, thus ensuring satisfaction.