Marketing refers to the process through which businesses and organizations promote themselves and their products by communication with potential customers. Marketing includes all types of advertising, ranging from websites and television commercials to print and outdoor advertising. Businesses spend huge sums of money on marketing to improve their sales, but marketing also benefits society as a whole in several key ways.
Advertising in Business and Society
One of the ways in which marketing benefits society is by informing and educating consumers. Marketing often has a persuasive intent, but it generally begins when a company identifies a customer need and seeks to explain how its products or services meet that need. For customers with clearly defined needs, marketing provides a means of learning about new products and what they do. Marketing can also include more practical information to assist in making a purchase, such as addresses, phone numbers, product release dates, store hours and Web addresses.
Marketing drives a consumer economy, promoting goods and services and targeting consumers most likely to become buyers. Higher sales for a business that employs successful marketing strategies translate into expansion, job creation, higher tax revenue for governments and, eventually, overall economic growth. In addition, the marketing industry itself creates jobs and wealth as businesses seek new and innovative ways to promote themselves and their products. Consumer demand for marketing in new venues, such as cellphones, creates new branches of the marketing industry and furthers growth.
Marketers work to understand consumer behavior and produce advertising that is most likely to influence it. This provides a place for behavioral researchers and economic analysts to model consumer behavior. By examining marketing data and its correlation to consumer behavior, analysts can learn about how and why people make the decisions they do. This is useful in crafting awareness campaigns for major public and social issues. It also serves to advance the fields of behavioral psychology and economic forecasting.
Marketing and advertising can be a powerful force for behaviour change. They help inform people about the benefits of our products and innovations. It is also a way for us to engage with consumers on issues that matter to them. For example:
Working through our industry trade bodies, such as the World Federation of Advertisers and the International Chamber of Commerce, we have supported the development of general principles in this area and their integration into advertising and marketing self-regulatory codes and systems around the world.
Building and maintaining reputation: The reputation of your business depends on how it grows and what its lifespan is. This is where marketing comes across as a way to build the brand equity of businesses. And this happens when the expectations of the customers are met.
Building relationships between customers and business: For any business to grow, it must build a long-lasting relationship with its customers. Marketing is based on demographics, psychographics, and consumer behaviour and therefore, gives an understanding of what customers want.
First, we controlled for lots of other influences on happiness. Second, we looked at increases or drops in advertising in a given year and showed that they successfully predicted a rise or fall in national happiness in ensuing years. Third, we did lots of statistical checks to make sure the empirical linkages were strong. Fourth, people sometimes forget that causality always requires there to be a correlation somewhere. But your question is constantly in my mind as a researcher.
Business 302 is a required course for upperclassmen selected to be Business 101 section leaders. This course examines the attributes required to advance the understanding of professional responsibility in the context of an ever-changing business environment.
Richard Boateng is a Professor in Information Systems at the University of Ghana Business School and the Convenor of the BRIGHT Network. His research experience covers the digital economy, e-learning, information and communication technologies (ICT) for development, electronic governance, social media, electronic business, gender and technology, mobile commerce, and mobile health at the national, industrial, organisational and community levels.
Sheena Lovia Boateng is a Lecturer in the Department of Marketing and Entrepreneurship at the University of Ghana Business School. She is the first female to complete a PhD in Marketing from the University of Ghana. She is also the founder of the Women in Tertiary Education Network (WITE). Her research interests include online pharmaceutical marketing, influencer marketing, online relationship marketing, fashion and beauty marketing, digital business strategy, electronic learning adoption, entrepreneurship, online branding and advertising, social media marketing and structural equational modelling in marketing.
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Read moreWith research focus on the intersection of business and society, innovative teaching methods and exciting partnerships, the Hoffmann Institute takes our positive social impact to the next level.
SDG Week is an on-campus event to raise awareness on how business can drive progress towards the UN Sustainable Development Goals, or SDGs. The Week engages students, staff, faculty and our community with interactive sessions and inspiring speakers. This year, the Institute partnered with student clubs and sponsor Accenture Strategy to host 10 sessions featuring 40 speakers.
What does art have to do with social change? Find out why it plays a vital role in society next Tuesday in GBSN's Beyond virtual conference.Join Katell. Le Goulven, PhD alongside Divya Singhal, Fernanda Carreira, Okan Pala and Abby Litchfield as they explore the impact that the arts can have in human rights, climate decline, and other challenges facing people and the planet.
Join our Founding Executive Director, Katell Le Goulven, every month as she speaks to inspiring figures who have transformed their businesses and initiatives to drive positive change. What were their challenges, why did they choose to walk the talk, and what have they learned? Listen in and be inspired to drive your own mission to change.
This major provides professional education leading to positions in business, government, and other organizations, and helps prepare the student for advanced study at the graduate level. Career opportunities are in marketing management, sales management, advertising, marketing research, retailing, public policy, and consumer affairs. In addition to following a planned course sequence in general marketing management, the students may elect course work that focuses on their interests in consumer or business-to-business marketing, physical goods or services marketing, retail marketing, analytics, brand management, and for-profit or not-for-profit marketing.
The Marketing area of specialization provides business students with an understanding of the basic concepts of marketing with an emphasis on emerging techniques and technologies. This major area of specialization prepares students to practice marketing in a changing competitive environment. Specifically, it covers the 4 Ps of marketing (i.e., product/service, price, promotion, and place/distribution) from a managerial perspective. It also offers a basic understanding of how to analyze data to identify insights critical to understanding the target audience. The program is also flexible, allowing students to concentrate on specific areas of professional pursuit such as sales management, digital/social media marketing, marketing data analyst, advertising, retailing, or marketing research.
OverviewInformation and communication practices and technologies have an increasingly powerful impact on nearly every aspect of our lives. From the level of privacy in our personal lives to the way we govern our communities or manage our businesses, the legal and policy issues in the communication field are ever-changing and increasingly complex. To prepare students to navigate this dynamic and complicated world, the minor in communication policy and law combines courses in communication, law, ethics and the business of communication taught at both the School of Communication and the School of Journalism at USC Annenberg. Students can choose to focus on policy or legal issues that affect communication technologies, strategies and uses. This minor will not only enable students to understand the revolution in media and telecommunications technology and practice, it will ground them in the fundamentals of free speech, intellectual property and the local, state and federal role in the regulation of communication platforms ranging from emerging social media to the legacy media of broadcasting and newspapers. This is an ideal minor for students interested in law or advanced communication scholarship. Admission requirements are a minimum 3.0 grade point average and completion of 32 units (sophomore standing). The 3.0 GPA is a minimum standard and does not guarantee admission. 2ff7e9595c
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