Marketings Role in Global Economy

Topics: Marketing, Economics, Marketing management Pages: 42 (14069 words) Published: February 3, 2012
chapter 1
Marketing’s Role in the Global Economy

When You Finish This Chapter, You Should 1. Know what marketing is and why you should learn about it. 2. Understand the difference between micro-marketing and macro-marketing. 3. Know why and how macromarketing systems develop. 4. Understand why marketing is crucial to economic development and our global economy. 5. Know why marketing special— ists—including middlemen and — facilitators—develop. 6. Know the marketing functions and who performs them. 7. Understand the important new terms (shown in red).


When it’s time to roll out of
bed in the morning, does your
General Electric alarm wake you
with a buzzer—or by playing your favorite radio station? Is the station playing rock, classical, or country music—or perhaps a Red Cross ad asking you to contribute blood? Will you slip into your Levi’s jeans, your shirt from L. L. Bean, and your Reeboks, or does the day call for your Brooks Brothers interviewing suit? Will breakfast be Lender’s Bagels with cream cheese or Kellogg’s Frosted Flakes—made with grain from America’s heartland—or some extra large eggs and Oscar Mayer bacon cooked in a Panasonic microwave oven imported from Japan? Will you drink decaffeinated Maxwell House coffee—grown in Colombia—or some Tang instant juice? Will you eat at home or is this a day to meet a friend at the Marriott-run cafeteria—where you’ll pay someone else to serve your breakfast? After breakfast, will you head off to school or work in a Kia Sportage, on your in-line skates, or on the bus that the city bought from General Motors? When you think about it, you can’t get very

far into a day without bumping into marketing— and what the whole marketing system does for you. It affects every aspect of our lives—often in ways we don’t even consider. In other parts of the world, people wake up each day to different kinds of experiences. A family in China may have little choice about what food they will eat or where their clothing will come from. A farmer in the mountains of Jamaica may awake in a barren hut with little more than the hope of raising enough to survive. A businessperson in a large city like Tokyo may have many choices but not be familiar with products that have names like Maxwell House, General Motors, and Oscar Mayer. What explains these differences, and what do they have to do with marketing? In this chapter, we’ll answer questions like these. You’ll see what marketing is all about and why it’s important to you. We’ll also explore how marketing affects the quality of life in different societies and why it is so crucial to economic development and our global economy.



Chapter 1

All bicycles can get you where you want to go, but there are many variations to meet the needs of different people.

– Marketing–What’s It All About?
Marketing is more than selling or advertising How did all those bicycles get here? If forced to define marketing, most people, including some business managers, say that marketing means “selling” or “advertising.” It’s true that these are parts of marketing. But marketing is much more than selling and advertising. To illustrate some of the other important things that are included in marketing, think about all the bicycles being peddled with varying degrees of energy by bike riders around the world. Most of us weren’t born sitting on a bicycle. Nor do we make our own bicycles. Instead, they are made by firms like Schwinn, Performance, Huffy, and Murray. Most bikes are intended to do the same thing—get the rider from one place to another. But a bike rider can choose from a wide assortment of models. They are designed in different sizes, with different frames for men and women, and with or without gears. Off-road bikes have large nobby tires, and the tires on racing bikes are narrow. Some bikes have hand brakes and others have foot brakes. Kids and older people may want more wheels—to make balancing easier; clowns want...
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