Would the above mentioned microphone work with a laptop,to create audio for dubbing and podcasts?if not,then what do you guys suggest?
Audio recording quality is extremely subjective and therefore depends on your expectations. Generally, a really low cost mic like that will not do wonders in terms of sound quality, but since the reviews (I.e. On amazon) seem ok, probably it is sufficient for what you want to do. But then again you could probably use any headset mic with similar results. A lot of people even record tutorials with the built-in mics of their laptops.
Personally I'd not get a mic like that, but then again my expectations for sound quality are probably different than yours.
There are sets with mics, a stand and cable for just a little bit more (~50-60$) but like I said, depends on your expectations.
In general there is a tendency of people to think a mic shouldn't cost a lot of money while spending a lot on their camera equipment. My sound equipment was more expensive than my camera equipment and I don't regret that decision.
The product description on Amazon states explicitly...
Designed for use with DSLRs, camcorders, video cameras, audio recorders, smartphones and computers
If it doesn't work plugged in directly out of the box, there are certainly adapters that will configure the connector for virtually any consumer mic input.
The only difference between all those different kinds of gadgets is exactly how the output connector is wired. And adapters can re-configure that for most anything.