Good morning friends, welcome back to my blog. I am currently going back to school for my M.B.A. Right now I am taking Marketing and I would like to share weekly post that I made to answer question from my professor.
Question of the week
Many people criticize marketing, saying that it influences consumers to buy things they don’t really want or need. Lately, the rise of minimalism and the popularity of Marie Kondo’s KonMari Method has further highlighted overconsumption. Marketers argue that consumers have choices and choose what they want that provides them the most perceived value. Discuss any of the following, drawing on your personal experiences.
- How do you think marketing impacts society?
- Is marketing good/bad for society?
- How important is marketing to society?
Here is my response
“The good news is that you are already a marketing expert!”
I think this statement holds true to all aspect of our life. We use marketing skill to advertise how good of a cook you are to your friends or to convince your boss to let you work at home by showing off your productivity and work ethic. Society is not functional without marketing. What motivates society to move forward is the continuation of creating excellent goods and services in exchange for something more profitable. A product is only bad if it doesn’t get to the right person. Someone always wants something new and improved. Nobody wants to keep riding horses forever. We want something faster, like a car. Then we want faster cars. Now we want a vehicle that can fly. So obviously there is a need. A car that can fly is not a basic necessity, but it would save people like me 2 hours of commuting, and I would pay for it.
Related: WHY CAN’T I SAVE ANY MONEY?
Marketing is good for society. It allows us to be aware of new technology, a different solution to solve our daily problems. If someone creates something great and don’t even talk about it to anyone: how can society move forward with that kind of approach. Society wants new ideas and new products daily. We want options to choose from.
There are Consumer Needs and Consumer Wants. Marketing is critical because we want to satisfy both our needs and wants. Marketing drives that effort and creates a solution for users.
Feel free to chip in and share your thought. Also, I am writing a blog about the financial burden of M.B.A school which will contain some interesting look.
