Title: Explain the economic benefits of marketing.
Course: Introduction to Fashion Careers (19201-18) > Section: Exploring the Marketing Process

Explanation should include

- adds value and utility
- creates competition that helps to keep prices down
- increases application of technology
- stimulates a variety of new/improved products
- provides information to increase consumer knowledge (e.g., of product information, environmental issues, health concerns)
- provides a variety of jobs
- stimulates the economy.

Process/Skill Questions

Thinking

- How do the economic benefits of marketing affect the individual consumer?
- What are the different types of utility? How is each important?

Communication

- What information does marketing provide the consumer? In what ways is information provided?
- What information can the business learn about the consumer through marketing?
- How can marketing be a service to the public?

Leadership

- How can students influence what goods and services are produced?
- What effect does the apparel/accessory marketing industry have on the U.S. economy and on the global economy?

Management

- How do the economic benefits of marketing affect business? How do the economic benefits of marketing affect the consumer?
- Why should marketing managers stay current on the economic benefits of marketing to the public?