Purpose of Marketing

The video explains that the main goal of marketing is to create value. This value should be generated for customers, the company, and the community. By focusing on these three groups, businesses and marketers can achieve success. The video emphasizes the importance of profit for the company and the need to ensure customer satisfaction and community benefit.

What is the primary goal of marketing according to the video?

• To create value

• To increase sales

• To expand market reach

• To enhance brand image

Why is it important to create value for customers?

• To ensure they return

• To increase product prices

• To improve employee satisfaction

• To reduce marketing costs

What does creating value for the company primarily involve?

• Increasing employee benefits

• Enhancing customer service

• Generating profit

• Expanding product lines

Which group is mentioned as the third stakeholder for whom value should be created?

• Employees

• Community

• Investors

• Suppliers

What is the outcome of successfully creating value for all three groups?

• Business and marketing success

• Higher employee turnover

• Reduced product quality

• Increased market competition