Objectives of Marketing By: Jayadatta S Faculty Lecturer in Commerce G.F.G.C Honnavar
Marketing Management is concerned with all those activities which are essential to determine and satisfy the needs of customers so as to achieve the objectives of business. Thus, the prime objective of marketing management is to achieve the objectives of the business. Thus the prime objective of marketing management is to achieve the objectives of the business. A business predominantly aims at earning reasonable long-term profits by satisfying the needs of customers.
The major objectives of marketing are as follows:1. To satisfy the customers: The marketing manager must scientifically study the demands of customers before offering them any goods or services. Selling the goods or services is not that important, as the satisfaction of the customer’s needs. Modern marketing thus always begins and ends with the needs of customers.2. To increase profits for the growth of the business: The marketing department is the only department which generates revenue for the business. Sufficient profits must be earned as a result of sale of want-satisfying products. If the firm is not earning profits, it will not be able to survive in the market. Moreover, profits are also needed for the growth and diversification of the firm.
3. To generate customer base for the business: The Marketing manager must attract more and more customers to buy the firm’s products and services. This will also result into increased sales.4. To determine marketing-mix that will satisfy the needs of the customers. Product, pricing, promotion and physical distribution should be so planned as to meet the requirements of different kinds of customers.5. To increase the quality of life of people: Marketing Management attempts to increase the quality of life of the people by providing them better products at reasonable prices. It facilitates production and distribution of a wide variety of goods and services for use by the customer.
6. To create good image: To build up the public image of firm over a period is another objective of marketing. The marketing department provides quality products to customers at reasonable prices and thus creates its impact on the customers. The marketing manager attempts to increase the goodwill of its business by initiating image building activities. If a firm enjoys goodwill in a market, it will increase the morale of its sales-force. They will show greater loyalty and will develop a sense of service to the customers. This will further enhance the reputation of the business.