Marketing Objectives
Q. What are the marketing objectives?
Ans. Marketing Objectives: The main objective of marketing is to serve customer demand. It aims at creating, capturing, and maintaining demand through an appropriate marketing mix. As an economic activity, marketing has three objectives, which are given below:
1. Creation of Utility: This is the primary objective of marketing. It aims at satisfying the various wants of consumers. It includes utility even to the very simple articles through time, place, and possession factors. This way, the demand of the customers is satisfied. The utility may be created through three methods. These are as follows:
(a) Creation of place utility.
(b) Creation of time utility.
(c) Creation of possession utility.
2. Cost Reduction: Marketing is based upon the cost of distribution. Marketing as far as possible, tries to reduce the costs. The reduced costs give benefits to both the seller and the buyer.
3. Price Stability: Price stability is a very important factor for a growing economy like India’s. If frequent price fluctuations prevail in the market, it will demoralize the whole trade. Confusion persists in the minds of both the buyers and the sellers. Heavy losses may occur to any of the parties.
In such circumstances, marketing is the only way to keep the price stable. Marketing serves both the customers and the producers by creating utility in a time of depression.