Does Marketing Create or Satisfy Consumer Needs? Comment on the “Dark Side” of Marketing
Does marketing create or satisfy consumer needs? Comment on the “dark side” of marketing
I believe marketing does both by first trying to satisfy the consumer’s needs and then second use the knowledge gained from their customers to introduce new products or services that will provide the best benefits for their consumers.
“Marketing has helped introduce and gain acceptance of new products that have eased or enriched people’s lives. It can inspire enhancements in existing products as marketers innovate to improve their position in the marketplace.” (Kotler and Keller, 2012, pg. 4)
Marketers must constantly keep up to date with customer needs and the marketplace due to increasing competition. Marketers have to not only satisfy consumers but they also need to satisfy the objectives of their companies which are mainly to increase profits and capture a larger market share. In order to both satisfy consumer and owners, marketers are continually trying to introduce new or enhanced products into the marketplace. New offerings are made often in order to beat out competitors. “More than ever, marketers need to understand and adapt to the latest marketplace developments. At greatest risk are firms that fail to carefully monitor their customers and competitors, continuously improve their value offerings and marketing strategies, or satisfy their employees, stockholders, suppliers, and channel partners in the process.” (Kotler and Keller, 2012, pg. 4)
In my opinion, the creation of consumer needs stems from socio-economic conditions more than marketing abilities. If people have the financial means, they can purchase whatever they want so there will always be demand. On the flipside, if people do not have the financial means, they will be limited in what they can purchase. Marketing plays a role in providing choices to satisfy people’s needs. As an example, in this current day people are crazy over mobile devices like iPhones, iPads, android phones and
I believe marketing does both by first trying to satisfy the consumer’s needs and then second use the knowledge gained from their customers to introduce new products or services that will provide the best benefits for their consumers.
“Marketing has helped introduce and gain acceptance of new products that have eased or enriched people’s lives. It can inspire enhancements in existing products as marketers innovate to improve their position in the marketplace.” (Kotler and Keller, 2012, pg. 4)
Marketers must constantly keep up to date with customer needs and the marketplace due to increasing competition. Marketers have to not only satisfy consumers but they also need to satisfy the objectives of their companies which are mainly to increase profits and capture a larger market share. In order to both satisfy consumer and owners, marketers are continually trying to introduce new or enhanced products into the marketplace. New offerings are made often in order to beat out competitors. “More than ever, marketers need to understand and adapt to the latest marketplace developments. At greatest risk are firms that fail to carefully monitor their customers and competitors, continuously improve their value offerings and marketing strategies, or satisfy their employees, stockholders, suppliers, and channel partners in the process.” (Kotler and Keller, 2012, pg. 4)
In my opinion, the creation of consumer needs stems from socio-economic conditions more than marketing abilities. If people have the financial means, they can purchase whatever they want so there will always be demand. On the flipside, if people do not have the financial means, they will be limited in what they can purchase. Marketing plays a role in providing choices to satisfy people’s needs. As an example, in this current day people are crazy over mobile devices like iPhones, iPads, android phones and
References: Bartz, D. (2009, May) U.S. appeals court agrees tobacco companies lied, Reuters – Retrieved from http://www.reuters.com/article/2009/05/22/us-court-tobacco-idUSTRE54L44820090522 Beatty, J. (2002, March) – The Enron Ponzi Scheme – The Atlantic, Retrieved from http://www.theatlantic.com/magazine/archive/2002/03/the-enron-ponzi-scheme/3156/ Kotler, P., Keller, K. L. (2012). Marketing Management, 14th edition. Upper Saddle River, New Jersey: Prentice Hall Publishing. Rosenbloom, S. (2010, March) Calorie Data to Be Posted at Most Chains, The New York Times – Retrieved from http://www.nytimes.com/2010/03/24/business/24menu.html