Question

it is said that marketing adds value. What is value from the perspectives of customers, producers and society?

Answer 1

Soln.

Marketing add value to customer through below mentioned ways -

• Increase visibility and awareness of brand among customers
• Develop strong and lasting relationship with customers
• Helps customer to move through the purchase decision more quickly
• Help customers differentiate between different products of similar usage

Marketing add value to producers through below mentioned ways -

• Marketing helps in positioning business as an expert in respective industry
• It creates loyalty among the existing and prospects
• Helps the producers to build authority and credibility
• Marketing brings a channel of communication through social shares and comments

Marketing add value to society through below mentioned ways -

• Marketing brings more options for the society in purchase decision
• Certain marketing brings general awareness in society
• Marketing informs and educates society
• It helps in driving consumer economy, promoting goods and services and helps in targeting consumers