Bring Out the Role of Marketing in the Economic Development of a Country ?

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Economic development is generally understood to mean an increase in national production that result in an increase in average per capita gross national product (GNP). An increase in average per capita GNP alone however is not sufficient to denote the implied or expected meaning of economic development. Besides an increase in average per capita GNP, most interpretations of the concept imply a widespread distribution of income as well. Economic development as commonly defined today, The strategies of economic development among others include industrialization which incidentally, is the fundamental objective of most developing countries. Certainly, most countries see in “economic growth”: the achievement of social as well as economic goals which among others include the following: satisfaction of such non material needs as better education for all, better and more effective government, the elimination of social inequalities; as well as improvements in moral and ethical responsibilities of both the public and private sectors of the economy. In order to achieve the above objectives, naturally, one should be concerned with the basic institutions of industrial society in general and with the management of business enterprise in particular. Definitely, one cannot successfully accomplish such activities without direct concern with marketing. Marketing as a functional discipline of business may be understood as a dynamic process of society through which business enterprise is integrated productively with society’s purposes and human values. It is in marketing, as we now understand it, that we satisfy individual and social values, needs and wants – be it through production of goods, supplying of services, fostering innovation, or creating satisfaction. Marketing, as we have come to understand it, has its focus on the customer, that is, on the individual making decisions within a social structure and within a personal and social value system. Marketing is therefore, the...
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