What are the Objectives of Marketing

Manufacturers want to earn profits by fulfilling needs of buyers. In recent times, there has been a shift towards meeting societal needs as well. So we can broadly say that Marketing has three main objectives in the 21st century-

1. Meeting the objectives of the Organisation-
• To ensure that the right kind of offering is made to the byer at a profit to the company.
• To ensure the offering made is efficiently made available at the right time at the right price
• To ensure effective and efficient after sales service is provided to maintain and increase market share.
• To provide direction for future course.

2. Meeting the objectives of the buyer-
• To identify the needs of the customers. It is a continuous process where the manufacturers have to stay ahead of time in order to identify future needs of consumers as well
• To fulfil customer needs.
• To ensure the products and services are easily available.
• To ensure the buyer is educated and made aware of the offering. For example, nutritional information on food products, expiry date, handling instructions via demo, etc.

3. Meeting the objectives of the Society-
• To create needs among customers which helps the society at large.
• Invest in promoting social causes
• Marketing helps in stabilising economic condition as marketing helps in selling the products or services which keeps various organizations functioning. This helps increase employment in the society.