There are several advantages of marketing as we know it. Marketing is specially formulated so that more of company A's products are bought. But in the end, through advertising the consumer ends up getting a fair amount of choice.
A typical marketing plan with a fair amount of user- oriented outcome can be listed as below:.
1. Identifies the needs and wants of the consumer.
2. Determines demand for the product.
3. Aids in design of products that fulfill consumer needs.
4. Identifies competitors and analyses a product's competitive advantage.
5. Identifies new product areas.
6. Identifies new and potential customers.
From the above, we can see that the "typical " marketing plan rests more on getting the company a good profit. But more of that later. Let us now look into some social and intangible benefits a marketing strategy offers to the individual consumer.
MORE CHOICE:.
We have seen innumerable times that a good marketing plan gives more choice to the individual. E.g. Suppose a T.V. brand X with features 1,2 ,3 and a T.V. brand y with features 4,5 and 6 are competing in a market. Their market shares are more or less divided between each other equally, because 50% of the consumers want the first set of features and 50% the other. Suppose there comes a brand Z who markets a combination of the best of the features of X and Y. Consequently the market previously unaware of such a possibility jumps to it. Thus here the third brand Z has created a choice for the consumer. In the process the brands X and Y will have to consider the consumer's perspective in order to remain competitive.
MORE CONSUMER CLOUT:.
A slew of brands for a single product also gives the consumer the right to have expectations from the brand she has bought. She now reserves much more clout as to what she wants from the brand.
MORE ECONOMIC WEALTH:.
As one can see from the success of America and the recent success of China to an extent, economic wealth of a country is directly proportional to the amount of spending by its citizens.