Final answer:
The statement that consumer-generated marketing has little impact is false. This form of marketing has become a significant force due to advancements in technology and globalization, enabling consumers to actively engage and influence brands and purchase behavior worldwide.
Step-by-step explanation:
The statement that consumer-generated marketing has had little impact as a marketing force is false. In recent years, consumer-generated marketing has become an increasingly influential factor in the business landscape, particularly due to the interconnectivity brought about by technology and globalization.
Consumers are no longer passive recipients of marketing messages; instead, they actively participate in the creation and dissemination of content. Examples include product reviews, social media posts, and consumer-created advertisements which have significant power to influence brand perception and consumer behavior.
The advancement of communications technology and the development of the internet have allowed consumers to order products from all over the world, escalating the level of competition among businesses. The advent of 'business-to-business' websites further exemplifies how technology has transformed market dynamics by enabling global partnerships and transactions. Additionally, the history of marketing illustrates its expansive capacity to create demand and influence social norms, further negating the assertion that consumer-generated marketing has had little impact.