Lesson 3- Value and Impacts of Marketing

Objectives: Economic Utility Types of economic utility Marketing impacts

Economic Utility Transformation of raw materials and component parts into valuable products Marketing adds utility to a product Marketing adds value; makes products more useful

Types of Economic Utility 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