Question

Is it wrong for marketers to create wants where none exist in the marketplace in order to make profits? State your position and defend your answer. Be specific. There are no wrong answers. Back up your findings with concepts, reasoning, and logic

Answer 1

Business is an activity undertaken with a profit motive. The idea of business hence, generally comprises of capturing a market share for the products or services so offered by the Business entity, to the target audience, with the view that such an activity shall reap profits for the organization. There is nothing wrong with this motive so far as the Business does not resort to unethical or malpractices to exploit the consumers in a given market. It is owing to the spirit of creating something new and offering a unique product in a market, that business strives upon innovation, quality and customer relationships, in a marketplace.

Take for example, Apple, Inc., that is known in the market for delivering of quality and sustainable products that are backed with innovation and high utility factors. It is regarded for its finest quality of products and hence they can command premium pricing for the same in their business, thereby generating a scope for higher revenues. However, in spite of this command, they are engaging in healthy competition with profit motive and hence, it is an acceptable venture. The concept of touchphone is a radical change brought in the field of cellular technology and wants were created for the same.  Apple’s products further strive upon Sustainability with Product quality leadership. This also facilitates the market share maximization of Apple and concludes that for marketers to create wants where none exist in the marketplace, in order to make profits, is fair.

It may help the society to progress with newer concepts and technology as well, that they might have not been exposed to earlier. Besides, it may further bring comfort to the consumers.