Question

How does marketing makes a better society?(3-4 pages essay)

Answer 1

Marketing refers to the process through which businesses and organizations promote themseleves and their products to the potential customers.Marketing includes all types of advertising, ranging from websites and television commercials to print and outdoor advertising. Social media is another important marketing platform which helps in creating awareness to consumers about different products provided by the organizations. This include facebook, instagram etc

Marketing plays a pivotal role in making a better society in following ways:

• Informing and creating awareness among consumers. Marketing begins with analyzing the needs and wants of customers and then fulfilling those needs by supplying the required products as demanded by consumers.Marketing helps in informing and educating consumers.Marketing can also include more practical information to assist in making a purchase, such as addresses, phone numbers, product release dates, store hours and Web addresses.
• Providing Good Quality Products. Marketing not only includes providing goods and service sto consumers but it also includes providing quality goods and services to consumers. This helps in creating brand loyalty and trust among consumers about particular brands.
• Marketing is not only concerned with profit motive.Better marketing includes a wide variety of approaches, activities, and systems. It is not restricted solely to the actions of marketing managers within commercial firms. Studies that involve marketing by organizations or individuals for whom profit is not a primary motive e.g., NGOs, governments, activists, or charitable organizations.
• Economic benefits of marketing. Marketing drives a consumer economy, promoting goods and services and targeting consumers most likely to become buyers. Marketing results in high sales. This results in profits and expansion of business organizations.This further results in increased salaries to employees and providing employment to a large number of people thus improving the standard of living for society.
• Increase in National Income By creating more jobs, higher profits and expansion of business marketing plays an important role in increasing national income and promoting economic growth and development.
• Decrease in distribution cost: Another important liability of marketing is control the cost of distribution. Through effective marketing the companies can reduce their distribution costs to a great extent. Decrease in cost of distribution directly affects the prices of products because the cost of distribution is an important part of the total price of the product.
• Modeling Consumer Behavior. Marketers want to create advertisements as per the consumer behavior. This calls for behavioral research and economic analysis to model consumer behavior.By examining marketing data and its correlation to consumer behavior, analysts can learn about how and why people make the decisions they do.A common example of this can be that people buy more of a product if some discount on bulk purchase or gift is offered along with the main product.

So, to conclude we can say that Marketing has the power to improve lives, sustain livelihoods, strengthen societies, and benefit the world at large.Marketing strategies help to imprint a brand in the minds of customers. This ensures that customers seek a particular brand of a product, rather than the brand seeking out its customers.Marketing keeps the society informed, improves the standard of living, provides goods and services as required by the society.