Through the study of marketing you will realize how important marketing is and how much it affects your life and the lives of others consumers. Its impact is more dramatic when you consider how it affects our economy and our standard of living.
Marketing plays an important role in an economy because it provides the means for competition to take place. In a competitive marketplace, businesses try to create new or improved products at lower prices than their competition. Those efforts force them to be efficient and responsive to consumers. In addition, businesses look for way to add value to a consumer’s shopping experience. Let’s look at the economic benefit of marketing to the economy and to consumers.