Question

Explain the importance of marketing to the consumers.

Answer 1

1. Promotes Product Awareness: Through different marketing activities, companies promote their products and services. This helps consumers to know about different products and services available in the market. It helps consumers make a buying decision. It also raises consumer awareness of different brands and product features available in the market.
2. Provides Quality Products: There is increasing competition in the market. Consumers have easy access to information about products and services in the market. It creates moral pressure on the businesses to provide quality goods to the consumers. Supplying defective products may create a negative image of the business which affects the consumer’s loyalty.
3. Provides a Variety of Products: Marketing creates awareness among the consumers about the product. At the same time, it encourages consumers to buy it. As customer populations and preferences broaden and competitive options expand, market segmentation has become critical to any business or marketing plan.
4. Helps in Selection: A variety of products with different brands are available in competitive markets. Marketing helps consumers choose the best products and services from the options available.
5. Consumer Satisfaction: The first and foremost objective of any sound marketing policy is to satisfy the advertising assurance of good quality products to consumers. When an offering meets the customer’s expectations, the customer is satisfied. Marketing drives consumer satisfaction through honest advertising, assurances of product quality, and the availability of innovative products. Thus, marketing makes every effort to satisfy consumers.
6. A regular supply of goods: A steady supply of goods is possible with good routes of distribution. It helps keep the balance between supply and demand. Prices stay the same because of it.