Page 51 - Foundations of Marketing

18 Part 1 | Strategic Marketing and Its Environment

purchased at Walmart. Electronic commerce via the Internet now enables businesses of all
sizes to reach buyers worldwide. We explore the international markets and opportunities for
global marketing in Chapter 8 .

Marketing Knowledge Enhances
Consumer Awareness

Besides contributing to the well-being of our economy, marketing activities help to improve
the quality of our lives. Studying marketing allows us to understand the importance of mar-
keting to customers, organizations, and our economy. Thus, we can analyze marketing efforts
that need improvement and how to attain that goal. Today the consumer has more power
from information available through websites, social media, and required disclosure. As you
become more knowledgeable, it is possible to improve purchasing decisions. In general, you
have more accurate information about a product before you purchase it than at any other time
in history. Understanding marketing enables us to evaluate corrective measures (such as laws,
regulations, and industry guidelines) that could stop unfair, damaging, or unethical market-
ing practices. Thus, understanding how marketing activities work can help you to be a better
consumer and increase your ability to maximize value from purchases.

Marketing Connects People through Technology

Technology, especially computers and telecommunications, helps marketers to understand and
satisfy more customers than ever before. Over the phone and online, customers can provide
feedback about their experiences with a company’s products. Even products such as Dasani
bottled water provide a customer service number and a website for questions or comments. This
feedback helps marketers refine and improve their products to satisfy customer needs better.
Today marketers must recognize the impact not only of websites but of instant messaging,
blogs, online forums, online games, mailing lists, and wikis, as well as text messaging via cell
phones and interacting through Facebook. Increasingly, these tools are facilitating marketing

Marketing Connects People
through Technology
Social media sites, such as
Facebook, allow consumers to
share information on marketers’ AP Images/Paul Sakuma
successes and failures through
technology.

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