Volume : VIII, Issue : VII, July - 2019

MICROECONOMICS WITH MARKETING

Alisha Mahajan

Abstract :

With increasing globalization, local retailers find themselves having to compete with large foreign players. To excel, as a market leader, the organization must form a marketing strategy. Microeconomics is one of the main fields of study in economics. Marketers use microeconomics models of consumer behaviour to measure which product characteristics are desirable, how much consumers will be willing to pay and their response to advertisements. The two fields are quite intimately linked. In many ways, marketing can be thought of as a sub–discipline of economics. Microeconomics has a direct impact on the way marketers push their products to consumers. However, it is useless to produce anything, unless it is going to be consumed. Therefore, one of the aims of microeconomics is to analyze the market mechanism. It is involved in every aspect of business, involving marketing. In other words, Microeconomics is the study of production and consumption of goods and transfer of wealth to produce and obtain those goods that involves marketing.

Article: Download PDF    DOI : https://www.doi.org/10.36106/paripex  

Cite This Article:

MICROECONOMICS WITH MARKETING, ALISHA MAHAJAN PARIPEX‾INDIAN JOURNAL OF RESEARCH : Volume-8 | Issue-7 | July-2019

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