In: Economics
The Power of Marketing
Marketers cannot create demand or make people buy things that they don’t want or need. However marketing is designed to persuade, inform, and remind people about the availability, choices, features, and advantages associated with new and existing products/services.
A friend of yours agrees with the following adage, “People don’t know what they want, they only want what they know.” Write a one-page paper expressing the extent to which you think marketers shape consumer wants, needs, and must haves.
IN YOUR OWN WORDS PLEASE!!!! NO PLAGIARISM
Marketing in an integral key function of any firm which makes it ongoing and grow. It is a continous practice that primarily involves communicating with customers, general public and other stakeholders in order to firstly inform and then persuade them to make purchases from the firms.
In markets where there are large numbers of providers it becomes very essential that marketing plays effective role as marketing will only make the firm look different which coudl attract the target market. Each brand solely demonstrate its own ideology and offers not the actual product rather asthetic components of the products which majorly shapes the consumers' choices and wants.
If a person feels hungry he wont just get satisfeied with any edible product but would like to loose his pocket only when he gets maximum of his customized wants. Such as is he is health consciuos then would look for healthy brands or if he is after taste would go for fast food brands etc. All these have become possible becaus eof the marketing that eateries are doing to persuade their target markets for not getting settle with less.
If we wont having fast food merchandies marketing day and nights and feeding into the minds of taste lovers than these people wpuld have settled for any brand selling edible goods. But now Mcdonalds, burger king and like franchises have make them feel that this is what they want, these people will spend their money on things which will make them more satisfied.
Hence it coudl be said that marketing has increased expectation of utility of each consumer in any feild or in any market.