What Has Marketing Provided to Our Economy and Our Lives?
Presented by Vince Rogers
Marketing is a very important aspect of both our economy and our lives, even if you don't necessarily realize that yet. Learn about what marketing has provided to our economy and our lives with help from the Principal Change Agent at Vince Rogers & Associates in this free video clip.
1. Business Success Prepared by Vince Rogers & Associates for Demand Studios
2. What Benefits Have Marketing Provided to Our Economy and to Our Lives?
3. Marketing is defined by the American Marketing Association as"the activities, institutions, and processes that create, communicate, deliver, and exchange products and services that provide value to businesses, consumers, and society at large."
4. The benefits that Marketing activities such as Advertising, Public Relations and Sales Promotion provides to businesses are pretty easy to understandThese activities help companies to Increase Revenue: Maximize Sales: Attract Customers:
5. So What’s In It For Us?
6. Marketing helps to create Competition between companies Competition between companies results in3 Major Benefits to Consumers
7. Companies use marketing activities to Promote Good Customer ServiceThey must make good on their claims of providing good customer service in order to satisfy their customers Companies know that If they promote good customer service, but don’t make good on that promise, they will lose their customers to the competition
8. Competition between firms results in the availability of an almost unlimited Wide Variety of Products and Services being produced and made available to consumersCompanies are constantly creating and promoting new varieties of products to compete for market share with their competition
9. Maybe most important to consumers is the fact that competitive marketing activities between companies results in Lower Prices for Consumers Because competing products usually have similar prices, marketing is used to promote discounts, coupons, rebates or any price incentives that will lure customers away from competing products
10. Also, companies use marketing to promote other non-price differencesbetween competitors products and services such as new features, free shipping, extended warrantiesor anything else that will appeal to targeted consumers
11. The benefits that marketing provides to businesses and consumers helps to expand the economy by making sure that consumers are provided with a wide variety of well priced products and good customer service These factors help to create a strong economy that producessuccessful businesses, low unemployment, and sufficient tax revenue to provide people with essential government services All of these factors should contribute a higher quality of life for all of us