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Economic Benefits of Marketing (divided in (Lower Prices (when products…
Economic Benefits of Marketing
divided in
New Improved Products
Marketing generates competition, which fosters new and improved products.
for example
cellphones that became smartphones.
Economic Utility
utilities are
atributes of goods or services that make them capable of satisfaying consumers wants and needs.
economic utilities
form utility
involves
Changing raw materials into usable goods or putting parts toghether to make them more useful.
place utility
involves
Having a product where costumers can buy it.
time utility
means
hving a product or service available at a certain time or year, or a conventional time of day.
possesssions utility
means
the exchange of a product for money.
information utility
involves
communication with the consumer.
Lower Prices
when products become popular, more competitos enter the marketplace.
marketing activities increase demad, and this helps to lower prices.
concept
marketing plays an important role in economy because it provides the means for competition to take.