Table of ContentsInforming ConsumersManaging Consumer ExpectationsPositive Impact: Economic BenefitShaping BehaviorBenefits Society in the Following WaysInforming ConsumersManaging Consumer ExpectationsNegative ImpactUnrealistic ExpectationsChildrenWorks CitedMarketing is the performance of business activities that direct the flow of goods and services from producer to consumer. Marketing is a total system of interacting business activities designed to plan, evaluate, promote, and distribute products and services that satisfy the desires of current and potential customers. Impact of Marketing on Society “The authors propose a political theory perspective to examine the impact of the modern aggregate marketing system on consumer well-being and society. Specifically, they suggest that the benefits that marketing offers to consumers are similar to the conditions required for representative democracy.” Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original EssayInforming ConsumersOne of the ways marketing benefits society is by informing and educating consumers. Marketing often has a persuasive intent, but generally begins when a company identifies a customer need and tries to explain how its products or services meet that need. For customers with clearly defined needs, marketing provides a means to learn about new products and what they do. Marketing can also include more practical information to facilitate the purchase, such as addresses, telephone numbers, product release dates, opening hours and web addresses. Managing Consumer Expectations In addition to providing consumers with useful information about products and services, marketing can also help set and manage customer expectations. Consumers rely on trusted brands and the consistency that comes from brand loyalty. They also use information from consumer advocacy groups to find out which brands are most trustworthy and represent the best values. Companies use marketing to raise consumer awareness of major changes, such as mergers and ownership transfers that affect product offerings or seek to improve quality. Government regulations prevent marketers from making false or misleading claims. This allows consumers to make informed decisions without the same risks they would face if they were to purchase without the benefit of marketing. It is of 2 types: Positive Impact Negative Impact Positive Impact: Economic Benefit Marketing drives a consumer economy, promoting goods and services and targeting consumers who are most likely to become buyers. Higher sales for a company that employs successful marketing strategies translates into expansion, job creation, increased tax revenue for governments, and ultimately, overall economic growth. Additionally, the marketing industry itself creates jobs and wealth as companies look for new and innovative ways to promote themselves and their products. Consumer demand for marketing in new places, such as mobile phones, creates new branches of the marketing industry and drives growth. Behavior Modeling Marketers work to understand consumer behavior and produce advertising that is most likely to influence it. This provides behavioral researchers and economic analysts with a space to model consumer behavior. By examining marketing data and its correlation with consumer behavior, analysts can learn how and why people make the decisions theythey take. This is useful for creating awareness campaigns on important public and social issues. It also serves to advance the fields of behavioral psychology and economic forecasting. Marketing refers to the process by which companies and organizations promote themselves and their products by communicating with potential customers. Marketing includes all types of advertising, from websites to television commercials, print and outdoor advertising. Companies spend large sums of money on marketing to improve sales, but marketing also benefits society as a whole in several key ways. It benefits society in the following ways Informing Consumers One of the ways marketing benefits society is by informing and educating consumers. Marketing often has a persuasive intent, but generally begins when a company identifies a customer's need and tries to explain how its products or services meet that need. For customers with clearly defined needs, marketing provides a means to learn about new products and what they want. Do. Marketing can also include more practical information to facilitate the purchase, such as addresses, telephone numbers, product release dates, opening hours and web addresses. Managing Consumer Expectations In addition to providing consumers with useful information about products and services, marketing can also help set and manage customer expectations. Consumers rely on trusted brands and the consistency that comes from brand loyalty. They also use information from consumer advocacy groups to find out which brands are most trustworthy and represent the best values. Companies use marketing to raise consumer awareness of major changes, such as mergers and ownership transfers that affect product offerings or seek to improve quality. Government regulations prevent marketers from making false or misleading claims. This allows consumers to make informed decisions without the same risks they would face if they were to purchase without the benefit of marketing. Negative impact Misrepresentations Advertising aims to present a product in the best possible light. There is some leeway in the creative process. As the Gecko says in the Geiko ads, "This is just a dramatization, of course," referring to the idea that if you ask Geiko representatives for an English muffin, they'll serve you a toasted one. with butter and jam. The problem arises when the dramatization crosses the line by misrepresenting a product. Large fines can result from deceptive advertising when imposed by the Federal Trade Commission. Unrealistic Expectations Direct-to-consumer advertising for prescription drugs has led to unrealistic expectations about the drugs' effectiveness and their side effects, according to the Food and Drug Administration study "Patient and Doctor Attitudes and Behaviors Associated with the Promotion of DTCs of prescription drugs. Voiceovers explain the negative aspects of the drug, but visual images show healthy, happy people. It is not unusual to hear that even death can be a side effect of prescription drug products of beauty and health may not deliver on their promises, resulting in wasted consumer dollars. Disclaimers are often hidden in very small print on product packaging and in out-of-the-way places in advertisements. False images Advertising is ingrained in American culture, from Saturday morning children's programs to talk shows and prime time TV. Advertising even invades movies through., 36(1), 22-50.