How marketing is important in the development of country economy? 

Marketing plays a crucial role in the economic development of a country by stimulating economic growth, modernizing industries, and facilitating international trade.

Key Insights

• Stimulus to Economic Development:

  • Marketing is a significant driver of economic development, helping to modernize industries and promote socio-economic transformation
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  • It broadens the criteria by which development is measured, integrating aspects like distributive justice and socio-economic transformation
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• Role in Less Developed Countries:

  • Marketing strategies are essential in less developed countries to stimulate economic activities and integrate them into the global economy
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• Sustainable Economic Growth:

  • Small and Medium Enterprises (SMEs) can leverage innovative marketing strategies to contribute to sustainable economic growth
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• Digital Economy and Marketing:

  • The digital economy, including digital marketing, plays a significant role in achieving sustainable economic development by enhancing socio-economic stability and growth
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• Impact on MSMEs:

  • The use of social media as a marketing strategy significantly affects the entrepreneurial orientation and organizational performance of Micro, Small, and Medium Enterprises (MSMEs), which are crucial for economic stability
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Conclusion

Marketing is integral to economic development, driving modernization, international trade, and sustainable growth. Its role is particularly vital in less developed countries and for SMEs, where innovative and digital marketing strategies can significantly enhance economic stability and growth.