How marketing develop the delivery of standard of living to the society is described below.
1. Creating Utility
The utility is an ability of human desire or want. Marketing creates the utility of time, place, form and thus increase the human consume. Therefore, the standard of living life of humans gets developed.
2. Adjusting Supply with Demand
Marketer equilibrium with the supply and demand of for society people. At first, marketers identify the demand of consumer and then they prepare for fulfilling this demand with balance supplying.
3. Ensuring Proper Distribution
Marketing plays an important role by supplying product at the right time in the right place by ensuring proper distribution. Consumers get the opportunity to consume foreign products or goods for proper distribution of the product.
4. Facilitating Large-scale Production
The demand is created at home and abroad by promotional marketing activities. The company has to produce large-scale production for meeting this growing demand. As a result, the price of the product is decreased. At this point, the measure of consumers consumes or uses get increased and get development the quality of life with the increasing demand.
5. Improvement of the Quality of Product
The expectations of customers growing day by day. Now, it is very important for a business to improve their product with the good quality. If the company can improve their product the consumers get attracted to this product. The improvement of the quality of product plays an important role to develop the standard of living.
7. Creation of New Product
The role of new product for attracting customers is very important for increasing the standard of living. The customers focus on product design, engineering, quality, quantity etc. The fist should select the product which it wants to produce. Then it will be the success.
8. Maintaining Economic Stability
Economic stability enables other business activities to achieve the standard of living in the society. Economic stability also creates the right environment for pricing of product and continuing consuming of customers. Thus, it plays the role of the standard of living.
9. Creating Employment
Marketing creates a lot of job opportunity. A huge amount of people are working on the different side of marketing functions. Thus, they can improve their standard of living by the earning form this job.
10. Development of Foreign Trade
Skill marketing creates a lot of demand for the product at home and abroad. For meeting this demand the marketers have to involve in foreign trade. Thus, the consumer gets the home and abroad product and they make their life standard with this foreign product. Form the above discussion, we can say, marketing meets everyone’s life. The meaning of this, by marketing a standard of living is developed and delivered to a people.
