(a) Marketing contributes to the economic and social development of a nation. In a developing country like India, marketing is all the more important. It helps to make fuller utilisation of untapped assets and energies. Marketing contributes to the development of entrepreneurial and managerial talent. Development of marketing leads to the integration of agriculture, industry and other sectors of the economy. Marketing in developed countries is more advanced than in developing countries. It also helps to increase exports and foreign exchange earnings of the nation. It generates employment and improves standard of living of the people. By increasing per capita income and by bringing new and better products and services to consumers marketing raises the quality of life of Indian economy. 

(b) Stages of marketing: 

1. Production oriented stage: In this stage, production and engineering departments shaped the company’s goals and strategy. The philosophy of this stage was that customers buy products which are low priced and easily available. 

2. Product oriented stage: In this stage marketers believed that customers will buy the product if its quality was good. Firms made efforts to improve product features and performance. 

3. Marketing oriented stage: The aim of marketing should be to know and understand the customer so well that the product or service fits him and sells itself. The modern concept of marketing recognizes the role of marketing as a direct contributor to profits as well as sales volume. 

4. Social marketing stage: With growing population, pollution, poverty and resource shortages, the marketing concept was expanded to include social welfare.