What is then the ultimate social utility of marketing?

The most recognizable Brands (think BMW, Land Cruiser, Rolex, Levis, Sony to name a few) are exactly that just because their parent Organizations have invested a lot of time and effort on creating products that have the highest quality built into them, as opposed to building and then inspecting for quality and issuing rejections coming out of the inspection process.
Why do I say this?
Because inspecting for quality inevitably has a higher cost (wastage + rework) than building for quality.

The Internet and other web based social media applications like You-tube, Facebook, Twitter, have changed the way we shop and research before we make any investment decisions on products or services we are looking for. Today, we have the opportunity to review product performance feedback and bench testing results, burn – in, Tech spec comparisons without even buying the product or service ourselves.
There are legions of users and Early adopters more than wiling to provide their personal feedback on the product or service in question, and all of this information is available to the general public almost real-time.
The other day I was at Williams – Sonoma shopping for a slow cooker – there were three brands I had shortlisted and the store salesman (knowing I was on the horns of a dilemma as to which brand to go for) suggested we look up some web reviews of the various brands I was considering…15 quick minutes later, I had made my decision based on some of the reviews and demo videos posted on the net – go figure!

So this is the brave new world of the buyers market – we are no longer constrained to wait for advertising and marketing campaigns to tell us what we should know about some product or service they are touting…the information is already available to us on the Worldwide Web…replete with actual users and early adopters all eager and willing to tell you their experiences with said product or service.

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