Answer to Question #270187 in Marketing for nanyala

Question

It is sometimes argued that marketing is not of any value for the consumer. Respond to this assertion and also consider the benefit of marketing for the performance of the firm. 

Answer 1

The argument that that marketing is not of any value for the consumer is not true. This is because marketing is the act of facilitating the exchange of a given commodity for goods, services, and money to deliver maximum value to the consumer. From a societal point of view, marketing is the link between a society’s material requirements and its economic patterns of response.

Marketing is often a critical part of a firm’s success, but its importance must be kept in perspective. For many large manufacturers such as Proctor & Gamble, Microsoft, Toyota, and Sanyo, marketing represents a major expenditure, as these businesses depend on the effectiveness of their marketing effort. Performance marketing allows business owners to determine the amount of value they'll get out of their investment. Marketing software platforms provide real-time results and performance tracking so businesses can see what desired actions are being achieved as its happening.

Marketing informs your customers about the products or services you're offering them. Through marketing, the customers get to know about the value of the products, their usage and additional info that might be helpful to the customers. It creates brand awareness and makes the business stand out.