Marketing Has Often Been Defined in Terms of Satisfying Customers

question 143

Essay

Marketing has often been defined in terms of satisfying customers' needs and wants. Critics maintain that marketing does much more than satisfying customers' needs and wants and, in fact, create needs and wants that did not exist before. According to these critics, marketers encourage consumers to spend more money than they should on goods and services they really do not need. What is your opinion of this on-going debate? Take a stance and defend your position using examples of companies that you perceive to have created or satisfied customer needs.

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Definitions:

Paid Within One Year

Refers to obligations or debts that are due to be paid off within a twelve-month period.

Net Property

The total value of a company’s property, plant, and equipment assets after deducting accumulated depreciation and impairment losses.

Plant And Equipment

Long-term physical assets used in the operation of a business, such as machinery, buildings, and vehicles.

Current Asset

Assets expected to be converted into cash, sold, or used up within one year or within the business's operating cycle, whichever is longer.