Marketing drives a consumer economy, promoting goods and services and targeting consumers most likely to become buyers. Higher sales for a business that employs successful marketing strategies translate into expansion, job creation, higher tax revenue for governments and, eventually, overall economic growth.
Marketing affects all aspects of our life and has a great impact on consumer behavior. Every day we use products from advertising: from toothpaste to clothes. Marketing forms consumers buying decisions. With the help of marketing , people become more informed about different opportunities and novelties.
he role of a business is to produce and distribute goods and services to satisfy a public need or demand. Society does not exist without some form of an economy, and businesses are what make up the economic system of the world.
Marketing encourages the precise opposite, cultivating behaviours and mindsets that are completely at odds with the way our society is heading. It cultivates desire, fuels dissatisfaction and drives overconsumption; it can only encourage us to buy more. Overconsumption isn’t just a moral or psychological problem.
Marketing discovers needs and wants of society, produces the goods and services according to these needs creates demand for these goods and services. They go ahead and promote the goods making people aware about them and creating a demand for the goods, encouraging customers to use them.
The 2 Roles Of Marketing attract prospects into your sales-funnel, and. convert them into paying customers.
General Advantages of Marketing An obvious advantage of marketing is the promotion of your business; getting the recognition and attention of your target audience across a wide ranging or specific market . Going hand-in-hand with this is the enhanced brand recognition.
Marketing informs your customers about the products or services you’re offering them. Through marketing , the customers get to know about the value of the products, their usage and additional info that might be helpful to the customers. Through communication, marketing helps your business become a market leader.
Marketing is about understanding what customers want, and using this analysis to drive the business. We should listen to our customers, inform our organisations of new insight and use automated technologies to predict buying behaviour patterns in order to deliver personalised messages to stakeholders.
Do companies have a responsibility to their communities ? The resounding answer is yes! Companies, no matter the size, do not operate in a bubble. The decisions a company makes impact their employees, customers and vendors, all of whom are part of the communities they serve.
The important help businesses need from society is the market for their product. Customers and most importantly their acceptance to the product or services offered by the businesses is the very reason for the existence and survival of the businesses .
The truth is that marketing is neither good nor evil . Like so many things, it is all about the intention that underlies it. Marketing is bad if it distorts the facts or tempts people away from the good stuff they are doing.
Marketing can encourage customers to spend money on goods and services they really do not need or want. The idea that marketing creates unnecessary needs and wants and is detrimental to society is completely opposite to its true nature. Society must change the attitude that bad things happen because of other’s actions.
Yes! Marketing is a powerful force in the society . I can say this because in the meaning of marketing from Josiah Go’s book of Principles of marketing , it clearly states that marketing is the process of continuously and profitably satisfying the target customer’s needs, wants and expectations superior to competition.