Marketing Influence On The Society

Assess the importance of marketing to society.

One of how marketing benefits society is by informing and educating consumers. Marketing often has a persuasive intent, but it generally begins when a company identifies a customer need and seeks to explain how its products or services meet that need. For customers with clearly defined needs, marketing provides a means of learning about new products and what they do. Marketing can also include more practical information to assist purchasing, such as addresses, phone numbers, product release dates, store hours and web addresses. Besides providing consumers with helpful information about products and services, marketing can also help set and manage customer expectations. Consumers rely on trusted brands and the consistency that comes from brand loyalty. They also use consumer advocacy group information to learn which brands are most reliable and represent the best values. Businesses use marketing to make consumers aware of significant changes, such as mergers and transfers in ownership, that affect product offerings or seek to improve quality.

Evaluate how marketing has changed society.

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. In addition, the marketing industry creates jobs and wealth as businesses seek new and innovative ways to promote themselves and their products.

Analyze how marketing has impacted today’s lifestyle.

Marketers work to understand consumer behaviour and produce advertising most likely to influence it. This provides a place for behavioural researchers and economic analysts to model consumer behaviour. Analysts can learn how and why people make their decisions by examining marketing data and its correlation to consumer behaviour. This is useful in crafting awareness campaigns for major public and social issues. It also serves to advance the fields of behavioural psychology.

Reference

Perreault, W., Jr., Cannon, J., McCarthy, E. J. (01/2016). Essentials of Marketing, 15th Edition. [South University]. Retrieved from https://digitalbookshelf.southuniversity.edu/#/books/1260003655/

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Marketing has evolved into a significant business function that crosses all areas of an organization. For example, marketing may advise production about how much of the company’s product to make and then tell logistics when to ship it. Accordingly, marketing influences business practices and may also have a broader influence on society.

Marketing Influence On The Society

• • Assess the importance of marketing to society.
  • Evaluate how marketing has changed society.
  • Analyze how marketing has impacted today’s lifestyle.