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Marketing as the Engine of Contemporary World Essay

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Updated: Jan 13th, 2022

Marketing is the engine of contemporary world. There many definitions offered by scholars on what marketing is. I would define marketing as a system that monitors and enhances the trade activities as per the purchasing power, demand, and supply. There are various industries and manufacturers that need marketing strategies in order define what to do to improve their products and increase the rates of sales. Therefore, marketing is a wonderful tool to foresee and take actions towards successful future of a separately taken business or manufacturing. Also, marketing is an amazing tool to deliver the value of the product to customers.

The hierarchy of needs is the pyramid of human desires and necessities that make the life comprehensive and full. Therefore, the first need is physiological: shelter, food, sleep, sex, etc. A good example of product that would satisfy the first need is food. Good food is what a person needs to feel well. The next need is safety which means a lot for a human and happens to meet tomorrow’s physiological needs. A good product that would ensure satisfaction of the need is a fire alarm system, for example. Or if a job is about driving around – a good vehicle mans security. The next is social need in family, friends, or relationships. Staying in touch with people you love presents a mobile phone as a good example of a product to satisfy the need like that. Self-esteem is usually satisfied by a prestigious house with an expensive car and health insurance.

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IvyPanda. "Marketing as the Engine of Contemporary World." January 13, 2022. https://ivypanda.com/essays/marketing-as-the-engine-of-contemporary-world/.

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IvyPanda. 2022. "Marketing as the Engine of Contemporary World." January 13, 2022. https://ivypanda.com/essays/marketing-as-the-engine-of-contemporary-world/.

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IvyPanda. (2022) 'Marketing as the Engine of Contemporary World'. 13 January.

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