Question

Describe how you think marketing provides value to both individual consumer and to society as a whole. Include specific examples as evidence for your debate.

Answer 1

Answer :- 1). Value of marketing to individual consumer :-

Marketing provides value to individual consumer in the following ways :-

a). Satisfaction of consumer needs :- Marketing satisfies human needs and determines the pattern of consumption. Marketing helps in assessing consumer wants and facilitates transfer of ownership of goods. Modern Marketing begins and ends with consumers.

b). Makes Shopping Easier :- Marketing informs consumers about the availability of products, their sources and prices, etc. Such knowledge helps consumers to save time and effort involved in shopping. Moreover, they can get better value for their money.

c). Educates Consumers :- Marketing provides useful information for consumers about products and their uses. It helps them to develop better habits and good life-style. For example, Advertising (one form of marketing) remind children to regularly brush their teeth, housewives to use better detergents and managers to use personal computers etc.

2). Value of marketing to society :-

Marketing provides value to society in the following ways :-

i). Improves Standard of Living :- Marketing helps people of society in improving their life-styles. It provides knowledge about new and better things. Such education facilitates progress of civilization. Marketing helps to make goods available to society at the lower prices.

ii). Generates Employment :- Marketing provides direct employment to a large number of people. Millions of people in society are employed in the transportation, warehousing, advertising, selling and distribution operations. Marketing accelerates banking, research, insurance and other economic activities.

iii). Sustains the Press :- Marketing is an important source of income for newspapers, magazines, radio and television. Such income enables the press to reduce its cost of publication. It also helps the press in maintaining its free and independent status.

iv). Others :- Marketing offers also various other advantages to society like stimulating research in society, promoting art and culture, basis for decision-making in society, acting as incentive to progress etc.