MARKETING AND ITS IMPACT ON SOCIETY
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Marketing refers to the processes an entity puts into place and implements to plan, price, promote and distribute consumer satisfying products and services to potential consumers. It involves several activities that ensure the flow of goods and services from the producer to the customer (McKay, Hopkinson, and Hong Ng, 2018). These activities that are crucial in marketing include branding, advertising, selling, and delivering products and services to consumers. The main aim of the marketing activities in any company or organization is to ensure that the service providers or product manufacturers draw customers and maintain a positive relationship with them. It also includes keeping in touch with previous customers to get feedback. The art of marketing is usually informed by the four Ps, which mean product, price, place, and promotion (Pitts and Stotlar, 2013). The first P, which represents the product, refers to the item or service that a business offers the consumers. The product should be designed to meet the consumers’ demands to a greater extent than the existing products. In this regard, the marketers need to understand the products they are marketing as compared to the existing similar competing product in the market. This enables marketers to sell their products efficiently by focusing on the strengths of their products. The second P represents then price. Once the marketer understands the costs of the competing plans, then they will be able to run an informed marketing campaign understanding their competitive edge as compared to the competing products. The third P stands for a place; the marketer needs to understand and decide where and how to sell the product. The sales could be made through a physical store, online, or even through the distribution channels. This is important for the marketer since each scenario calls for different marketing approaches. Promotion is the fourth P, which refers to the integrated marketing campaign. Development involves various activities such as advertising, sponsorship, guerilla marketing, public relations, direct marketing, and sales. Promotions vary from one product to the other, mostly depending on the life cycle stage that the product is in.
Marketing has had a myriad of both positive and negative impacts on society. This is due to the fact that the whole idea of the marketing process is to influence the view of society towards a product or service that’s being marketed. Businesses, therefore, are prone to employing both ethical and unethical tact’s to achieve their goals of making sales (Pitts and Stotlar, 2013). To start with, we find out that marketing drives the consumer economy by promoting products and services with an emphasis on the individuals that are most likely to be the potential buyers. Effective marketing strategies result in increased sales for businesses hence higher revenues. This enables companies to grow, creating job opportunities for the population and also realizing increased revenues for the government in taxes culminating in economic growth for the society. In addition to this, the marketing industry offers massive employment opportunities for marketers (Gundlach, Block, and Wilkie, 2007). With employment comes wealth creation and improved living standards since many people can earn a living from the marketing jobs as most businesses are seeking to have a presence in the sprouting markets hence the establishment of new branches.
Understanding consumer behavior patterns is a significant task for modeling behavior marketers. This breed of marketers has to understand the behavior patterns of the target consumers to inform their advertising and product promotion approaches. The economic analysts and behavioral researchers model, consumer behavior patterns, to understand their needs and preferences (Gundlach, Block, and Wilkie, 2007). By scrutinizing the marketing data about consumer behaviors, then analysts can be able to explain how and why societies make the decisions they do. This is crucial for the governments in designing awareness programs to different communities. For instance, the government can be able to determine why lifestyle diseases are prevalent in societies that consume high volumes of processed foods hence design awareness programs for them. This also helps in economic forecasting as buying patterns can be adequately explained.
Marketing plays a pivotal role in educating society. However, with a persuasive intent, marketers give crucial information to the consumers in the process of selling their products. By explaining how a product works and its benefits, businesses enable the society to make informed decisions on what products to use while getting value for their money (Gundlach, Block, and Wilkie, 2007). It also exposes various products to the consumers giving the full range to choose from. On the other hand, marketing can be viewed as an enlightening tool for consumers with clearly defined needs. It offers an avenue for them to learn about other various products and their advantages as compared to the traditional fix.
Apart from being used as a tool for making sales and influencing the consumers preferences, marketing as an avenue of passing information. It informs the customers on which bands are the most reliable and represent the best values. Businesses also use the marketing channels to inform the public on the major changes in their enterprises that affect the product offerings. This information could be mergers, takeovers, transfer of ownership, or even move in government policies. This enables consumers to make informed decisions when choosing a brand with minimal risks.
On the flip side, marketing has some negative impacts on society, especially when the line is crossed, leading to the misinterpretation of some of the marketing strategies such as advertisements. The problem is usually a result of the excessive dramatization of the adverts with the aim of influencing the consumers hence falsely representing the product to the potential consumers. Despite regulations imposing hefty fines to businesses that cross the line, some players always find smart ways of going around the rules (Gundlach, Block, and Wilkie, 2007). This, in turn, can have a devastating effect on the consumers who misinterpret the adverts and use the products such as drugs being advertised with over expectations. The marketers focus on stating the benefits of the product while, on the other hand, presenting the downside of the product in a not so audible or visible manner. For instance, disclaimers are usually hidden in tiny prints on the product packaging or in an out of the way spot in adverts.
Some of the adverts can also promote stigmatization of some quarters in the society. For instance, they may depict that superheroes should look a certain way hence making people who appear differently feel bad about themselves. For example, most adverts represent that for a woman to be beautiful, they have to look thin hence discriminating on those who are considered as fat and making them feel bad about themselves (Raman, 2009). Other marketing campaigns show how a family should look like making those families either without children or one parent feel bad about themselves hence a negative impact on society. On the other hand, marketing campaigns promote products which are harmful to health and society. Previous research works have shown that food adverts have influenced the eating habits of children. They have been seen to prefer unhealthy processed foods that they were introduced to by adverts. Minors have also been seen to engage in the consumption of drugs and other immoral activities such as alcohol and gambling due to the influence of the massive advertising campaigns in the mainstream media. Some marketing avenues have also been used by unscrupulous characters to scam unsuspecting potential buyers. Scammers advertise mostly on social media and prey on the unsuspecting clients. This eats upon the gains of marketing.
It’s clear that marketing strategies, when properly executed, can help a business make massive sales and also maintain a healthy relationship with the customers. It’s a crucial aspect of the growth and expansion of any market. Marketing also affects the society in both a positive and negative manner spanning from the company, marketers and consumers. When implemented innovatively and ethically, it promotes healthy competition among different players hence the provision of quality products and services at the right prices.
References
Gundlach, G., Block, L. and Wilkie, W., 2007. Explorations Of Marketing In Society. Mason, Ohio: Texere.
McKay, G., Hopkinson, P. and Hong Ng, L., 2018. Fundamentals Of Marketing. Oxford: Goodfellow Publishers Ltd.
Pitts, B. and Stotlar, D., 2013. Fundamentals Of Sport Marketing. Morgantown, W. Va.: Fitness Information Technology.
Raman, K., 2009. Free Markets, Marketing and Society. Marketing ZFP, 31(JRM 1), pp.7-16.