The need for marketing the services is explained below:
1) Formation and Expansion of Job Opportunities: Due to the rising unemployment problem, it becomes quite necessary that new employment opportunities are generated through the new plans and policies.
This fact cannot be denied that the advancement of the service sector would open more job opportunities and help explore new avenues for the advancement of untouched or partly developed sectors.
2) Optimum Utilization of Available Resources: One of the most significant aspects of development is that it would help in ensuring optimum utilization of the available resources. As the issues related to improper use/misuse of the resources are coming up, it is highly undesirable.
As per this perspective, the service sector is considered vital for the economy as its proper marketing and promotion can only help control the ineffective use of resources. Thus, for extending the service sector’s marketing, those resources can be utilized which were usually left untouched or underdeveloped.
3) Opening Doors for Formation of Capital: For overall development, it is vital to boost the process of capital formation for resolving the problems of scarcity of funds. For this purpose, the development of the service sector is quite vital.
The generation of funds helps in supporting the economy of the nation. Thus, the gainful service sectors considerably help in the development of the nation.
4) Raising the Living Standards: The primary objective of development is to enhance the living conditions of the people and raise the living standards. Those service organizations which offer better living standards for people are considered as a means of development.
The advancement of the society in qualitative terms is considerably affected by the model or structure of development of the policy designers. Indifferent attitude towards improving the living standards in India would leave India far behind the developed nations.
The people’s living standards can be raised only when, besides earning well, they know where and how to spend, what and where to eat, what to do for improving personality and maintaining good health, etc. Making people aware of these facts can help service organizations play their role in improving people’s living standards.
5) Eco-Friendly Technology: In the recent past, the importance of technology in the service sector has been realized, as technology is used in each and every sector. Specifically, the developed nations are working on this line. Undoubtedly, India is also taking strides in this direction, but it is in the budding stage.
The primary difference is that the technologies used recently have insignificant or minimum effects on nature. Though almost all service sectors such as banking, insurance, hospitality, communication, education, etc. are technology-oriented, these technologies are not harsh on nature.