Download Lesson 3- Value and Impacts of Marketing

Lesson 3- Value and Impacts of Marketing
Lesson 3- Value and Impacts of Marketing
Objectives:
• Economic Utility
• Types of economic utility
• Marketing impacts
Economic Utility
Marketing adds value; makes products more useful
Marketing adds utility to a product
•
Transformation of raw materials
and component parts into
valuable products
Types of Economic Utility
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•
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•
Information
Possession
Form
Place
Time
Impacts of Marketing
Are these impacts of marketing positive or negative?
Comparison shopping- Marketing makes it easier to locate, compare,
and buy the goods and services customers want.
Junk Mail- Many businesses use the mail to market their products.
Recipients often call this “junk mail” because they discard these
materials as un-wanted junk. This wastes the natural resources used to
make the mailing and adds to our society’s growing trash problem.
Employment- Many people are employed and earn a living through the
marketing of goods and services.
Advertisements- Many businesses feel the need to make their
advertisements stand out from all of the others. Some ads do this through
shock value or by using material that some people find inappropriate or
offensive.
Privacy- Many people do not want businesses to invade their privacy to try to
sell products. For example, they are annoyed by phone calls from sales
people selling products they have no interest in buying.
Lesson 3- Value and Impacts of Marketing
Summary:
• Economic Utility
• Types of economic utility
• Marketing impacts