Question

Why is marketing important to society? Why should you study marketing?

Answer 1

Marketing refers to the mechanism by which businesses and organizations promote themselves and their goods by engaging with potential customers. Marketing covers all forms of ads, from websites and television advertisements to print and outdoor advertisement. Businesses invest large amounts of money on ads to boost their profits, but ads often helps society as a whole in a variety of main ways.

One of the ways that marketing helps society is by informing and educating customers. Marketing often has a persuasive purpose, but it generally begins when a company identifies a customer's need and seeks to explain how its products or services meet that need. Marketing is a way of learning about new products and what they do for consumers with specifically identified needs. Marketing may also include more practical information to help purchases, such as addresses , phone numbers, product release dates, store hours, and web addresses.

In addition to supplying customers with valuable information on goods and services, marketing can also help to identify and control customer preferences. Consumers depend on trustworthy brands and on the continuity that comes from brand loyalty. We often use information from consumer advocacy organizations to learn which brands are most trustworthy and which represent the best values. Businesses use marketing to make consumers aware of major changes, such as mergers and transfers of ownership, which affect product offerings or seek to improve quality. Policy law forbids advertisers from making false or misleading statements.

Marketing powers the consumer economy, promotes products and services and identifies customers most likely to become buyers. Higher profits with a good marketing campaign translates into expansion, job creation, higher tax revenues with governments and, eventually, overall economic growth. In fact, the marketing industry itself generates employment and prosperity as companies pursue new and creative ways of selling themselves and their goods. Consumer demand for marketing in new places, such as mobile phones, is creating new divisions of the marketing industry and boosting growth.

Marketing is more than a focus within the core sector. Most specifically, it defines a set of skills that are valuable in any profession. Marketing, as a technical discipline, is a critical feature of every business activity. This examines consumer expectations and travel as primary sources of income. This also uses a range of data to make sound and informative business decisions. More generally, marketing skills span the corporate world and are found in other fields. Also beyond the conventional position of marketing , people profit from the awareness of the fundamental values that tie individuals, brands and businesses together.

But with the most ambitious business strategies, it is the consumers that make the rules. They drive brand equity through their different perceptions and journeys. And that means that businesses need to be closely associated with their customer base if they want their brand to expand. Similarly , the ability to understand the needs and needs of different groups of people is useful in any job. Marketing shows that customer / employee / stakeholder / patient perspective is a crucial factor in assessing success.

True expectations essentially determine the decision-making process for many customers. Marketing provides the ability to explore this cycle alongside the intricacy of design, advertising and branding. Consumers make decisions on the basis of how goods and services are packaged. This is not a judgment based on the facts, but rather on the interpretation of the facts. The ability to influence decision-making and purchasing patterns is a valuable skill, often beyond the conventional marketing position.