Principles and Practices of Marketing
  1. Creates utility-this is the ability to satisfy a need ie form utility-this occurs mainly when we have a change in state. Place utility-this mainly occurs in transportation. time utility-this arises in all retail outlets and procession utility-arises when we have ownership of goods.
  2. Employment creation-this arises when one gets task of designing bill boards, website designers, retailers, wholesalers, warehousing, communications as well as doctors and lawyers indirectly. a good example is in the  united states where between ¼ and 1/3 of civilian labour force is engaged in marketing activities and projections indicate that future employment in marketing will remain strong.
  3. Creates revenue to the government due to the taxes that are levied to the marketers.
  4. Earns a country foreign exchange mainly through international marketing.
  5. Entertains consumers e.g. some tv adverts.
  6. Consumers get informed about products that are prevailing in the markets-people are able to consume what they would not have consumed as there is accessibility to products due to cross-border trade, international trade etc.
  7. Widens the markets-this is mainly through advertisements, sales promotion and distribution. it is also through marketing that goods and services find their way into the trading blocks thereby increasing sales e.g. PTA.COMESA and European markets.
  8. Helps to develop brand loyalty-this arises due to the repeat purchase by existing customers and favorable accommodators by existing customers to friends, neighbors and others.
  9. Helps to introduce new products in the market therefore raising the standard of living for most people e.g. shopping at internet
  10. It generates consumers enthusiasm (become interested in something eagerly) for goods and services.
  11. Has a strong impact on beliefs and lifestyles of people-marketers are criticized as developing materialistic attitudes.
  12. Helps to improve the quality of life as well as preservation of the environment- marketers encourage firms to make safer products ie low-tar cigarettes, create public messages on energy conservation, cure diseases(e.g. usage of Dettol),driver safety ie don’t drink and drive, abuse alcohol and other topics.

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