How does marketing affect the economic situation of our country?

Answer 1

I think marketing is a key piece of the economics of this country. Without marketers to stimulate the market, there would be fewer goods and services demanded, and the overall economy would not be as large. Also, as companies try to compete in an increasingly competitive market, they are compelled to improve their products and drop prices to keep up.

Answer 2

Marketing is about having the right products and services available at the right place, at the right price, and promoted so the consumers are aware of the product or service. These are known as the "4 P's" of marketing (product, price, place and promotion). If marketing is done properly, demand is increased for the product or service and there is ample supply to meet this demand. This process creates wealth by providing jobs to people to produce the goods and services which expands the economy and generates increased tax revenue for the government.