Macro-Marketing Does NOT Cost Too Much!

Macro-Marketing

Rather than on an individual firm basis, macro-marketing concerns how the whole marketing system works. This means that macro-marketing if the influence that marketing policies, strategies, and objectives have on society and the economy as a whole. Because marketing impacts what consumers do, it ultimately impacts how businesses and individuals interact with one another. Macro-Marketing focuses on reaching consumers as a whole or mass market, while micro-marketing focuses on individuals. Macro-Marketing looks at how goods and services are distributed, and the social impacts that has.

Criticisms of Macro-Marketing

  1. Macro-Marketing helps create a monopoly or monopolistic competition leading to higher prices, restricted output, and reduction in national income and employment.
  2. Advertising is a waste of resources.
  3. Macro-Marketing makes people materialistic.
  4. Macro-Marketing elevates the wrong values.
  5. The macro-marketing system does not provide solutions to important problems.

The Truth of Macro-Marketing

While on the surface, it may seem that these criticisms have a leg to stand on, when you dig a bit deeper, you can almost always find ways to prove them wrong. In-fact, macro-marketing have proven to be much more effective than micro-marketing and should be held as much more effective than it is typically recognized for.

  1. While it is true that macro-marketing strategies aim to create separate monopolistic markets, at the end of the day, consumers do still have their own choice. They don’t HAVE to buy the new products, and typically older products drop in price to make up for the competition; therefore having an even larger appeal to those who choose not to buy the newest product. Because of this, markets come up with new investments and ultimately contribute to economic growth and higher levels of national income and employment. As well, increased profits attract competition causing profits and prices to drop as new competitors enter into the market.
  2. Again, it is true that plenty of ads are boring, obnoxious, or misleading; however, there are so many more that do prove to be effective, and overall, are worth the cost. Advertising really is the best way to reach large numbers of people efficiently. Given that the product is highly perceived by consumers, advertising can increase demand and therefore sales. This typically offsets the higher advertising costs and ultimately lowers costs.
  3. Many may argue that macro-marketing strategies cause people to be more materialistic, however, history has shown that rather than making people more materialistic, macro-marketing just enhances those innate desires that already exist. For all of time, people have looked for ways to prove themselves as higher in status or wealth than others, way before macro-marketing strategies were created. Truthfully, macro-marketing has just given a new way to accomplish what people already were and would have continued to do themselves.
  4. Critics believe that macro-marketing works to emphasize poor values and push those onto consumers. However, just like with materialism, it can be argued that those values were already held by consumers, and marketing strategies are just playing to them. One of the best ways to market is to find what’s appealing and important to your target market and play on that. With this being said, rather than marketing firms developing these values and pushing them onto consumers, it can be said that consumers already held those values, and marketing firms are just using them to their advantage.
  5. There is no doubt that businesses focus their marketing efforts towards those who have the ability to purchase what they offer. However, as competition drive costs down, it opens the opportunity for more people to be able to purchase things they really need. Again, this leads to stimulation of economic growth, creates jobs, and spreads income amongst more individuals. Ultimately, those with more money having purchasing power of more expensive goods opens up the opportunity for those will less to purchase needed products and services.

The Cost is NOT too Much

Overall, there is a lot of controversy over whether or not the costs of macro-marketing are worth the overall benefit or result of those efforts. As you should see from the dispute of several common criticisms of macro-marketing, I believe that macro-marketing does NOT cost too much. Macro-Marketing proves to be effective for society and the economy and is something that should be continued for the betterment of our macro world.

--

--

--

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

How can the Facebook Group help to Grow your Business?

Facebook Group

7 STEPS ON HOW TO START A BUSINESS BLOG FOR FREE

How To Build Your Native Advertising Strategy? 3 Ways that Work

Last Week Tonight with John Oliver

Can you supercharge your brand growth by balancing strategy and action?

106 Email Subscribers 59% Open Rate 34% Click Rate with 100% FREE Traffic!

The Art of Brand Placement

How to use a penetration pricing strategy for your online business in 2022

How To Use A Penetration Pricing Strategy for Your Online Business in 2021

Getting purpose right: Reflections on Cannes Lions 2022

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Taylor Hill

Taylor Hill

More from Medium

It’s Ok To Be Ugly

Memory Champion: Most Effective Way to Memorize Names

The Batman is So Real, But Also a Bit Embarrassing

How I planned my life now that I’m 27 years old?