How does marketing benefit society

Lastly it benefits society by creating models of wisdom that reflect the dreams of women and men who have succeeded in providing the product or service society needs.

Is there anything else I can do for you? Post a Comment. Sign in to start learning. Email Address. Keep me signed in. Not yet a registered user? Sign up now. It means that the firm is sensitive to change and buyer behaviour. It makes up the deficiencies in product or products and service packets. This warrants a scientific planning, creative research and paying innovation. It means that the firm is making sound and timely decisions based on the data collected, analyzed and interpreted.

It also means that the firm is diversifying in its product and service offerings. In short, it is moving along with the current. Studying and identifying the consumer needs in their various dimensions of cost, time, quality, quantity and place, encouraging innovation and accepting and implementing diversification all these lead to profit maximisation. These purposes are earned not by exploiting the consumer but by satisfying them or by toiling hard to satisfy them.

These profits are reasonable and consistent and lasting to take care of current operations and future bold programmes of growth and expansion. Profits from operations guarantee the much warranted financial success. To reiterate this pecuniary victory, it is the direct product of consumer satisfaction.

Society expects from all the business houses to make available the goods and services at reasonable prices, of improved quality, in sufficient quantity and at convenient locations. Not only that; it expects to have choosing and bargaining capacity, credit purchases, rejection or return of product if the consumer is dissatisfied. The modern marketing concept accepts these demands and works hard to mean what it says.

The standard of living of the people in a country is deeply influenced by the level of efficiency of marketing organizations working as the sub-systems of the broad economic system.

Today, marketing system is not only a structure of products and people but the agent of change and the catalyst for desired change known for value adding. It is through marketing that new ideas, new services, and new products in the form of necessities, comforts and luxuries that are introduced, multiplied and maintained. It is marketing that brings the benefits of productive efficiency to the people in terms of improved standard of living.

The opportunities and challenges in this dynamic and pragmatic field make possible development of managerial talents. Constant exposure to these ever changing challenges develops good managers to find satisfactory solutions to these problems. For instance, if one company stops producing their product, then the competitor will have to step in to fill its place because they know how much people love it!

Not only this but there is much more. Effective marketing has become a vital part of our society, and for a good reason. Beyond its persuasive intent, marketing is also much more than just informing customers about the products they are looking to purchase.

Effective marketing provides practical information such as store hours or phone numbers that allow consumers with clearly defined needs to make an educated decision on what product best suits them without wasting time browsing through all available options in their search for the perfect one - saving both themselves money and companies valuable resources spent producing items nobody will buy!

Effective marketing is such a fundamental part of the customer experience because it not only helps provide useful information about products but can also set and manage expectations. Consumers rely on trusted brands for consistency and brand loyalty. They also use consumer advocacy groups to learn which brands represent a good value in terms of quality as well as price point.

Businesses use effective marketing to make consumers aware of the huge changes, such as mergers and transfers in ownership that affect product offerings or seek to improve quality. Government regulations avoid marketers from making misleading or false claims. This makes the consumers able to make informed decisions without the risks they would face if they had an opportunity to buy without a marketer's help!

Effective marketing boosts a consumer economy, promoting goods and services to consumers in an effort to sell their products. Higher sales for businesses with successful marketing strategies translate into the expansion of the business itself as well as the creation of jobs via employment opportunities offered by these companies.

Businesses seek innovative ways that will promote themselves and their product which creates more job openings within this industry. Consumer demand for new forms of marketing like on cellphones also causes branching off from traditional advertising methods creating even more job opportunities going forward!

Marketers work in order to understand consumer behavior and produce advertising that is going to influence it.