Question

According to Albrecht et al. (2023), how does marketing benefit society? (Select all that apply)

Answer 1

Marketing benefits society through improved products, increased profits for businesses, and higher incomes for employees.

Step-by-step explanation:

Marketing benefits society in several ways:

1. Consumers get better or less expensive products. For example, marketing efforts can lead to product improvements or promotions that result in lower prices for consumers.
2. Businesses with better or cheaper products increase their profits. This allows them to invest in research and development, create more jobs, and contribute to economic growth.
3. Employees of those businesses earn more income. When businesses succeed, they can afford to pay higher wages and provide better benefits to their employees.

Overall, marketing contributes to economic development, job creation, and improved standards of living.