The chief objective of business has always been to earn profits by satisfying the needs and wants of consumers. Marketing management plays an important role in this direction by product planning and development and their value exchange. The main objectives of marketing management in light of the overall objectives of the business are as under:- Creation of demand: - Marketing tries to create demand by attracting new customers through advertisement, personal selling, sales promotion etc. A business enterprise first identifies the needs and wants of the consumers and then produces and supplies them the goods of their liking. It helps in create demand Market share: - Marketing also aims to increase the market share by following aggressive selling techniques, i.e. advertisement, personal selling, etc., necessary to survive in the competitive environment. Profitability and growth: - The long-term objective of marketing is to increase profits by satisfying the needs and wants of the consu...
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